Latest news with #Zomato
The Hindu
an hour ago
- Business
- The Hindu
Platform fees now an ‘industry standard,' an ‘inevitable' development
What started off as a small experiment — a ₹2 'platform fee' on Swiggy in 2023 — has now grown into an industry standard across e-commerce and quick commerce platforms alike. The fee is no longer ₹2 either: Swiggy now charges ₹10 as a platform fee. There is GST applicable on top of this: one user fumed on social media site Reddit two years ago: 'There's now a GST on platform fee. A fee Zomato/Swiggy invented.' The fees are netting relatively modest sums — Zomato said in its report for the 2023–24 fiscal that the line item earned the firm ₹83 crore that year. But they may be setting the stage for something larger: platform fees are now being charged across all major food and grocery delivery platforms, like BlinkIt, Swiggy, Zomato and Zepto. Even Amazon has started charging a ₹5 'marketplace fee,' something it doesn't appear to charge users in other countries. Spokespeople for Swiggy and Zepto did not respond to a request for comment. A Zomato spokesperson said, 'This fee helps us keep the app running smoothly, invest in product improvements, and continue delivering a smooth and convenient experience for our users. GST is applied as per government regulations and the restaurant's confirmation.' Amazon said in a blog post when it started charging this fee last month that the surcharge is a 'common industry practice,' and that it wouldn't be applicable on bill payments and digital purchases. Platforms generally have multiple sources of revenue in a single order: while food delivery players make money from restaurants by charging a commission of 15–25%, grocery delivery apps own the inventory they're selling, pocketing the margins of the products flying out of their dark stores. But margins remain slim, Digvijay Ghosh, Partner of Consumer Products and Retail at EY-Parthenon told The Hindu. Mr. Ghosh said it was 'inevitable' that such fees would start being charged by platforms. 'Obviously all the platforms are looking to have a focus on profitability and build on that,' he said. 'Traditionally, there have been a lot of investments which the platforms have made in the shape of discounts, and in building the tech infrastructure which drives these platforms.' Why not buff up prices elsewhere instead of adding a fee at checkout? Comparison shopping of sticker prices discourages that, Mr. Ghosh said, as consumers may tend to compare pre-checkout prices and shop based on that. The strategy has some risk of attracting buyers' ire, Mr. Ghosh said: 'I'm pretty sure that some of this will go through a bit of hit or miss depending on where they see consumers reacting adversely.' The fees are a 'growing concern from a consumer point of view,' Amol Kulkarni, director of research at the Consumer Unity and Trust Society (CUTS), a consumer advocacy group and think tank, told The Hindu. 'If it is becoming an industry standard, and all the players are in tandem appearing to increase their prices, there is a concern around anti-competitive practices and entities and platforms acting as a cartel to increase prices for consumers when a product is sold on platforms.' There is a 'transparency and information asymmetry' problem too, Mr. Kulkarni said. Conceding that players were free to increase prices — 'I'm not suggesting for a second that we should regulate prices,' — Mr. Kulkarni says that there is nonetheless a need for 'clear transparency in terms of what are the charges and the consumer should know them' upfront.
NDTV
a day ago
- Business
- NDTV
Man Ties The Knot At His Viral Sandwich Shop Before It Closes For Good
A man in the United States decided to mark the last day of his sandwich shop in a unique way: by getting married there and throwing a big party for everyone around. Josh Amidon, owner of Gino's Steak & Onion in Fayetteville, New York, tied the knot with his partner Joe on July 14, 2025. The couple had planned to marry later in the year at their co-owned restaurant only. However, when their lease renewal fell through at the last minute, they decided to say goodbye to the establishment and start their new lives together on the same day. The news has received a lot of attention because their shop went viral in 2023 for its "Malibu Barbie Dream Drizzle" pink-cheesesteak. It was inspired by the 2023 Barbie film, which had become a global sensation at that time. In a long post on Facebook, Josh announced the closing of Gino's and also invited people to attend his wedding party. Talking about why he had to shut shop, he wrote, "It's not because of the economy, or slow sales, or because people suddenly lost their appetite for cheesesteaks. It comes down to something a lot simpler: our landlord chose not to renew our lease. We'd been in talks for months. It always felt like we were right on the edge of getting a new deal done. It dragged closer and closer to our lease's end date, but I was assured it was basically a formality. Then, just three days before the lease ran out, I got word: the landlord decided not to move forward. No explanation. And you know what? That's commercial real estate. It's a tough, cutthroat game, and sometimes you're the one left standing without a chair when the music stops." Also Read: Zomato Agent's Priceless Reaction To Surprise Birthday Bash By Customers He speculated about possible reasons why his lease fell through and concluded that it wasn't due to a personal reason. Although it was a big blow, he said, "At the end of the day, I can't hold bitterness. The landlord did what he did, and I can't change it. I only wish it had played out in a way where this all wasn't happening at the last minute." He then went on to explain that he has been with the restaurant's co-owner, Joe, for 16 years. He revealed, "He's always been more reserved than I and never wanted to be named in these stories, and I mostly respected that. Sort of. All those times I talked about 'the accountant'? That was Joe. We had planned to get married this fall, right here at the restaurant. When that suddenly wasn't in the cards anymore, we decided to fast-track it." Through this Facebook post, he invited people to come and enjoy free food and drink from 5 to 8 pm the next day. It would be a part of their wedding celebration as well as a farewell event for the establishment."We didn't get a whole lot of notice that this was happening, and we've gotta clear out the coolers anyway. This felt like the most fun, most 'on-brand' way to close. Once we run out, we run out." Instead of wedding gifts, he encouraged attendees to leave cash tips, which would then be shared with the shop's staff to help them during this sudden transition. Also Read: After the final service, the shop's contents will be moved to two storage units. Josh expressed being open to new ventures, although he isn't sure what the next chapter is for him. "Another location? Maybe. A new concept? Possibly. A future partnership? Who knows. I'm open to anything and everything that comes my way. In the meantime, I'll finally have a chance to finish my book, maybe start a podcast. You know, typical midlife crisis stuff brought on by crushing trauma," he concluded. The post, the couple and their shop received a lot of love in the comments section.
Mint
2 days ago
- Business
- Mint
Zomato Q1 Results: Eternal board to meet on THIS date to consider June quarter results; check details
Zomato Q1 Results: Deepinder Goyal-led food delivery platform Eternal Ltd informed exchanges today, July 16, that its board will meet next week to consider the financial results for the first quarter of the financial year 2025-26 (FY26). The company told exchanges that its board meeting to consider and approve the Q1 FY26 results for the quarter ended on June 30, 2025 will be conducted on Monday, July 21. 'Pursuant to Regulation 29 of Listing Regulations, we wish to inform you that the meeting of the board of directors of the Company is scheduled to be held on Monday, July 21, 2025, to inter-alia, consider and approve the unaudited financial results (standalone and consolidated) of the Company for the quarter ended June 30, 2025,' Eternal said in an exchange filing.
Time of India
2 days ago
- Entertainment
- Time of India
Zomato celebrates India's spirit of grit in new campaign
Zomato has launched its latest campaign, titled ' Fuel Your Hustle ', celebrating the quiet grind behind some of India's loudest names. Featuring icons like Shah Rukh Khan , Mary Kom , AR Rahman and Jasprit Bumrah , the film highlights their journeys, marked by humble beginnings, no shortcuts and unwavering discipline. The film features archival footage from their childhood and early days of struggle, bringing their authentic and inspiring stories to life. Some of the footage has never been seen before, while some is behind-the-scenes footage from India's iconic films and matches. It's tied together by a music track by Kalmi (Nikhil Kalimireddy), best known for his hit 'Big Dawgs'. In a world that celebrates quick successes, Fuel Your Hustle is a tribute to the consistent effort behind greatness. The film reveals the relentless pursuit of progress that defines icons like Shah Rukh Khan, who overcame early struggles as a young actor, and Mary Kom, who defied the societal norms around motherhood. It also spotlights the unseen hours and discipline of AR Rahman, and the relentless practice on and off the pitch of Jasprit Bumrah. These icons show us that wins are forged through persistence, despite doubts and setbacks. Sahibjeet Singh Sawhney, marketing, Zomato, said, 'This campaign is for a new generation of doers, a reminder that even the stars they look up to started small, stumbled, and kept going. It's a cheer for the millions of Indians building something, following dreams, caring for loved ones and for themselves, even when it's hard and no one's clapping.' 'We're rooting for those chasing what they care deeply about and showing up for it consistently. Food is just their fuel and we're glad to be a small part of their journey,' he added. Zomato has launched a 360-degree campaign across digital, outdoor, social media platforms, and print media. Shah Rukh Khan said, 'I've only ever truly believed in hard work. Long hours, late nights, they don't feel heavy when it's for something you love. It's not about doing it because you have to, it's because you want to give it your all.' Mary Kom said, 'Most days weren't about winning. They were about showing up — for training, for my family, for myself. It wasn't always perfect, but I knew what I was fighting for. I didn't start out strong, I became strong, slowly, one day at a time.' A R Rahman said, 'Every day is day one. Even now, I feel like I'm just getting started. It's a joy to be part of an inspiring narrative—alongside people I genuinely admire and cheer for.' Jasprit Bumrah said, 'Nothing comes easy. You've got to put in the work — every single day. Every session, every rep, even when no one's watching. Hustle is part of every journey, but no one sees it. Zomato is showing the world a sneak peak of that grind.' Watch the video here:
Mint
2 days ago
- Business
- Mint
Zomato co-founder Deepinder Goyal-backed LAT Aerospace buys Bombardier jet? All you need to know
Zomato co-founder Deepinder Goyal has issued a clarification after a report on Wednesday said LAT Aerospace, a company backed by him, has bought a Bombardier Global jet. 'For those who want facts more than clickbaity headlines – LAT is a startup, and has not bought any private jet. LAT is about making planes for regional aviation, and is not in the business of buying plane,' Goyal said in a post on X. 'And, I don't own one personally either. Will be nice to have one though,' he further clarified. As per the report by Moneycontrol quoting multiple sources, Bombardier Global series aircraft was scheduled to start operations from July 16. The jet has been seen parked in the Delhi airport's VIP bay since June 2025. The exact model of the aircraft could not be ascertained by the report. The registration of the aircraft, as well as the purpose of its flight today were also not known. As per the report, Indamer MJets Airport Services and Bird Execujet Airport Services are responsible for the ground handling and engineering of the Bombardier Global jet. Earlier in June, LAT Aerospace co-founder Surobhi Das confirmed that Deepinder Goyal is eyeing the regional air travel segment with the aircraft startup. "While building Zomato and flying across India, Deepinder and I kept circling back to the same question: Why is regional air travel still so broken - expensive, infrequent and mostly out of reach unless you live in a metro? India has 450 airstrips - but only 150 see commercial flights. That means nearly two-thirds of our aviation potential is being wasted. Meanwhile, millions in Tier 2 and 3 cities spend hours - sometimes days - traveling by road or rail," Das said in a LinkedIn post. Goyal's bet on the aviation venture could redefine regional air travel in India which is at a nascent stage, as uncertainty remains over regulatory clearance, technological capability and public adoption. The reported development on LAT Aerospace comes days after Deepinder Goyal bought a nearly 11,000 sq ft apartment in DLF's ultra luxury project in Gurugram for ₹ 52.3 crore. According to Zapkey, the Zomato co-founder bought this apartment in 'DLF Camellias' project from DLF Ltd in August 2022. The registration of the house was done in March this year.
