swiggy: Swiggy is piloting premium grocery retailer with Handpicked

Grocery and grocery supply startup Swiggy has ventured into one other grocery retailer known as Handpicked with a pilot launch in Bengaluru, in response to sources and screenshots verified by ET.

Premium merchandise, both imported or regionally made, are listed on the platform.

These embrace Coca Cola’s Cherry Cola, out there in markets like the US, Kombucha, made by native startups in Bengaluru, and Gujarat’s Methi Khakhra. Spreads and ready-to-cook meat from Italian, German and Mexican delicacies are additionally included.

“The thought is to construct a ‘nature’s basket’ within the cloud,” stated a supply. “These are merchandise which are extraordinarily tough to seek out in native shops or on e-commerce channels.”

A spokesman for Swiggy additionally confirmed the event to ET.

“Swiggy Handpicked, an invitation-only providing from Swiggy, helps prospects uncover and store for distinctive and attention-grabbing meals, starting from international favorites to regional delights and native legends that are not simply accessible. Handpicked is presently being examined with choose customers,” it stated in a press release.

In contrast to its fast commerce retailer Instamart, the merchandise listed on Handpicked solely ship the following day, and customers can solely entry the service by invitation. The group engaged on Handpicked is distinct from his Instamart group, and each corporations function as separate entities, the supply added.

Handpicked is one other diversification of its e-commerce enterprise from its core grocery supply enterprise, the place progress has slowed.

ET was the primary firm to report on Could 26 that Swiggy is creating a market for direct-to-commerce manufacturers known as Minis.

Handpicked is one other addition to the corporate’s checklist of latest companies this yr, which incorporates Minis and on-line restaurant service Dineout.

The corporate purchased Dineout in Could from Instances Web — the digital arm of Bennett, Coleman and Firm Ltd (Instances Group), which additionally publishes that newspaper — for $120 million in an all-stock deal.

Dineout, the place prospects can uncover eating places and get reductions by paying by the app, is a key component in Swiggy’s loyalty program, Swiggy One, which affords free meals and grocery supply.

Different companies embrace meat supply and Genie pickup and drop-off, which it was compelled to shut in Could this yr because of an absence of supply companions.

The event additionally comes amid layoffs at Swiggy.

ET reported on Dec. 9 that the corporate plans to put off about 250 workers throughout all features in December. Extra layoffs are imminent.

On Nov. 24, investor Prosus introduced that the corporate’s core grocery supply enterprise noticed order progress and gross merchandise worth (GMV) progress of 38% and 40%, respectively, in the course of the first six months of calendar 2022.

Swiggy’s Instamart fast commerce enterprise noticed orders and GMV develop 20x and 15x, respectively.

(Graphics and illustrations by Rahul Awasthi)

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