Swiggy has restarted Daily, a homestyle food service, in select years, as per a report by Moneycontrol. It has been four years since the company shut down the operation.
Daily was first introduced in 2019 to give a wide variety of homestyle meals and tiffin services to customers. The service was first available in Gurugam.
One could schedule their meals in advance or book them on a weekly or monthly basis based on demand. During the time of the launch, Sriharsha Majety, CEO, Swiggy, said, as per Mint, “There is a growing demand for quality and affordable everyday meals. With a mix of organized vendors and home chefs, Swiggy Daily will cater to this latent demand for homestyle meals that are an affordable, long-term solution for our daily food needs.”
In 2020, due to the pandemic, Swiggy closed daily because of a drop in demand. Speaking to Entrackr about the closure, a source said, “The app never got decent traction, and its demand further plummeted because of the closure of offices and educational institutions.”
The company closed Swiggy Daily since most of its users were working from home during the lockdown and the service was mainly used by office workers. However, the business hopes to revitalize the service and take advantage of the market that Zomato Everyday already dominates, as most people have returned to working from the office multiple days a week.
Read: Swiggy Launches Smart Links To Boost Orders For Restaurants With A Digital Presence
With the intent to deliver home-cooked meals, in 2023, Zomato launched Zomato Everyday. Speaking about the launch, Zomato CEO Deepinder Goyal said, “Zomato Everyday will bring you closer to home by serving you meals that make you feel at home."
Goyal added, “Our food partners collaborate with home chefs, who design each recipe with love and care to serve you home-styled, wholesome food at the best prices within minutes.”
To keep the service affordable for daily use, both Zomato and Swiggy decided to offer food services ranging from around Rs 89 to Rs 150. Speaking about Swiggy’s intent to resume operations, a source told Moneycontrol, “Swiggy has matured more as a company since 2020, in terms of supply chain and cost efficiencies, and it thinks Daily is a promising category to be present in—the conviction is high. It is targeting people living as paying guests (PGs), hostels, and regular office goers through Daily.”
Swiggy is gearing up for its IPO debut. The platform has already filed its draft IPO papers with the Securities and Exchange Board of India (SEBI), as reported by Moneycontrol. The company intends to raise up to Rs 6,664 crore (about $800 million) as an offer-for-sale (OFS) component and up to Rs 3,750 crore (around $450 million) through a fresh issue.
