SWIGGY, ZOMATO, UBER EATS REDUCE DISCOUNT OFFERS DUE TO SLOWDOWN!

After eighteen months of growth, food delivery market is experiencing slowdown, reports Economic times. The market saw exponential growth in order numbers for the past one and a half year.

Affected by slowdown in customer spending, the monthly growth across the sector has falled to 1-2%. Multiple investors and industry executives reportedly told Economic Times that Zomato, Swiggy and Uber Eats reduced discounts hurt by the slowdown.

In January, average daily orders were 1.82 million for the top 3 companies. By june, it went to 3 million orders, according to RedSeer Consulting, reports Economic Times.

However, since then, the growth has slowed down as October number reveals a flat growth chart between 3.2 and 3.4 million.

Fluctuations are mostly due to increased weekend orders. Sources also say that food ordering goes through dip seasonally. “For October, it was a 1-2% growth in order numbers because of festivals like Navratri, Dussehra and Diwali, but our business has been steadily growing before and after that,” said a Zomato spokesperson in an email to Economic Times.