Bengaluru-based food and grocery delivery platform Swiggy has recently launched a new feature called ‘Pocket Hero.’ This innovative addition aims to cater to cost-conscious users, primarily targeting students and newcomers to provide them with more affordable food delivery options.
The platform has collaborated with select restaurants to offer enhanced discounts and free deliveries for new customers.
Launched in late November, the ‘Pocket Hero’ pilot is currently available in approximately 15 cities. Swiggy intends to make food delivery more accessible and value-driven for users who may find online food delivery less cost-effective.
Sidharth Bhakoo, Vice President and National Business Head at Swiggy, shared his thoughts on the new feature, saying, “Pocket Hero aims to make food delivery accessible to a set of users who today may find online food delivery less value for money. True to its name, Pocket Hero delivers the best of discounts from our partner restaurants and gives free delivery on top of it to give our customers a taste of convenience without having to think much about their pockets.”
As a company committed to continuous innovation, Swiggy has introduced several new features in pilot mode throughout the year. In April, it launched the ecommerce service ‘Maxx,’ promising to deliver utility goods such as pet care supplies, electronics, and stationery items within an hour.
In early 2023, Swiggy expanded into the premium grocery market through an exclusive invitation-based offering called ‘Handpicked,’ promising next-day delivery. Subsequently, in March, the company rebranded its morning grocery delivery service in Bengaluru, continuing the service under the name ‘InsanelyGood,’ while keeping it in pilot mode.
Notably, Swiggy is also preparing for a public listing between July and September next year, according to sources.
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Meanwhile, Zomato introduced its ‘Everyday’ program in February to provide affordable home-cooked meal options.
Analysts have observed that food delivery platforms have been focused on profitability and increased usage among their medium-to-high frequency customer base through loyalty programs. However, new customer acquisition has taken a backseat in favor of extracting more orders from existing customers.
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Both Zomato and Swiggy have been experiencing growth from an expanding base of transacting users who place orders at least every month. Zomato, for instance, is seeing nearly 40% of its gross order values for food delivery coming from high-frequency customers who have subscribed to its ‘Gold’ loyalty program.
