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Despite Heavy Discounts, Swiggy Losing Market Share To Zomato: Jefferies
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Despite Heavy Discounts, Swiggy Losing Market Share To Zomato: Jefferies
30 October 2024
The report noted that Swiggy grew 40% while Zomato's growth was 55% during H1 FY23. Swiggy’s $315 Mn losses in H1 FY23 were six-fold higher compared to Zomato’s standalone losses of $50 Mn. Together, Zomato and Swiggy operate in a near-total duopoly, accounting for 90-95% of the total food delivery space
The report noted that Swiggy grew 40% while Zomato's growth was 55% during H1 FY23. Swiggy’s $315 Mn losses in H1 FY23 were six-fold higher compared to Zomato’s standalone losses of $50 Mn. Together, Zomato and Swiggy operate in a near-total duopoly, accounting for 90-95% of the total food delivery space
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