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Business Standard
19-05-2025
- Business
- Business Standard
Magicpin expands quick commerce arm, MagicNow to drive 20% of food delivery
Hyperlocal retail platform Magicpin expects its rapid delivery vertical, MagicNow, to account for 20 per cent of its total food delivery business by the end of the current financial year, according to co-founder and CEO Anshoo Sharma. Speaking to news agency PTI on Monday, Sharma noted that MagicNow, launched in September 2024, currently contributes 13 per cent of food delivery volumes and is showing robust growth. 'With MagicNow—our 15-minute quick delivery vertical—already contributing 13 per cent of total food delivery orders, we're well on track to scale this to 20 per cent by the end of the financial year,' Sharma said. The service has expanded significantly in recent months, growing from operations to 20 high-density urban areas in six major metros. It has also seen stronger customer engagement, with monthly user retention 10 per cent higher than Magicpin's platform average. According to Sharma, the company has expanded its network of merchant and restaurant partners to over 21,000 from 3,000 since MagicNow's launch. The roster includes national and global chains such as McDonald's, Taco Bell, Chaayos, Wendy's, Faasos, and Burger King, alongside local eateries. Magicpin claims to provide access to 275,000 retailers and about 3,000 brands across various categories, including fashion, food, electronics, grocery, nightlife, and entertainment. MagicNow joins Swiggy, Zepto, Zomato in quick commerce race MagicNow's growth comes amid intensifying competition in India's growing quick commerce space, where platforms promise delivery within 10–15 minutes from neighbourhood fulfilment centres. Once a niche segment, it has rapidly scaled, with analysts at Bernstein estimating the sector will balloon to $35 billion by 2030, up from just $200 million in 2021. Established players are also doubling down. Swiggy has extended its 10-minute food delivery service, Bolt, to over 500 cities and introduced SNACC, an app dedicated to delivering small meals in under 15 minutes. Its grocery service, Instamart, continues to expand, now supported by larger warehouses across 100 cities. Zepto has diversified with Zepto Cafe, offering hot snacks and beverages in 10 minutes, and launched Zepto Atom, an analytics platform aimed at providing brand partners with customer insights. Zomato, meanwhile, has re-entered the race with a 15-minute food delivery service in Delhi-NCR and a pilot initiative called Bistro by Blinkit, enabling ultra-fast service via its quick commerce arm.
Time of India
01-05-2025
- Business
- Time of India
Zomato 'quietly ends' the food delivery service it started just 4 months back
Zomato Q4 Results: Eternal (formerly Zomato) saw its net profit fall by 78% year-on-year (YoY) to Rs 39 crore in the March 2025 quarter. Zomato has reportedly discreetly removed its 15-minute food delivery tab, Quick, from its main app just four months after its launch, signaling a potential shift in its ultra-fast delivery strategy, according to Money Control. The feature, also part of Zomato Everyday , was prominently promoted but is now unavailable in cities like Bengaluru, Gurugram, Hyderabad, and Mumbai. Zomato may rework and relaunch the feature later. Quick, accessible via Zomato's explore page, offered ready-to-eat meals from select restaurants within a two-kilometer radius but is no longer visible. Zomato reportedly did not respond to Money Control queries on the same. Incidentally, Zomato CFO Akshant Goyal previously suggested the feature's limited impact, stating, 'All these initiatives (10-minute delivery in India) are still at a very early stage and are not likely to move the needle,' during the Q3FY24 results announcement. Quick reportedly accounted for 8% of Zomato's order volume around March. This marks Zomato's second failed attempt at quick deliveries. Its 2022 venture, Zomato Instant , promised 10-minute deliveries in Bengaluru and Delhi-NCR but shut down by January 2023. It was succeeded by Zomato Everyday, which has also vanished from the app. Zomato has now pivoted to Bistro by Blinkit , a separate service leveraging Blinkit's dark stores to deliver snacks and small meals quickly. Swiggy countered with its Snacc app. However, Zomato's CEO Deepinder Goyal admitted to Money Control last October that scaling quick deliveries is challenging due to difficulties in securing restaurant partners. He noted, 'Zomato Instant was not the right product market fit. Zomato Everyday…has a slightly better model,' with plans to include simple items like samosas and puffs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your Finger Shape Says a Lot About Your Personality, Read Now Tips and Tricks Undo Amid rising competition from Zepto Café, Blinkit's Bistro, and others like Magicpin and BigBasket, Zomato seems to be redirecting its quick-delivery efforts to Bistro by Blinkit , separating fast snacks from its core restaurant delivery app to streamline operations. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
