Zomato Gold or Swiggy One: Who’s winning the loyalty programme race?
29 October 2024
Zomato’s revamped Gold membership programme, which it rolled out in January, is showing initial signs of success with the foodtech unicorn recovering some of its lost ground from archrival Swiggy.
A report by HSBC Global Research indicates that Gold, which was relaunched at an introductory price of Rs 149 for three months, has enabled Zomato to eat into Swiggy’s market share in this quarter (Q4FY23). “Zomato has started to reclaim some of the market share it lost in H2CY22, thanks to the launch of Zomato Gold. We expect it to continue to gain market share from Swiggy, led by an aggressive go-to-market strategy,” HSBC stated in its report.
Zomato’s revamped Gold membership programme, which it rolled out in January, is showing initial signs of success with the foodtech unicorn recovering some of its lost ground from archrival Swiggy. A report by HSBC Global Research indicates that Gold, which was relaunched at an introductory price of Rs 149 for three months, has enabled Zomato to eat into Swiggy’s market share in this quarter (Q4FY23). “Zomato has started to reclaim some of the market share it lost in H2CY22, thanks to the launch of Zomato Gold. We expect it to continue to gain market share from Swiggy, led by an aggressive go-to-market strategy,” HSBC stated in its report.
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