Swiggy One’s Members and Sponsored Events Sales Performance for 2022 - 2023
Jan 16, 2024
The Indian food delivery landscape has undergone significant changes in the past two years, with Swiggy, one of the leading players, showing remarkable growth. Vumonic Datalabs comprehensive analysis of Swiggy's data for 2022 and 2023 reveals fascinating trends in consumer behaviour and sales patterns. This blog delves into the key findings from this study and what it means for the food delivery industry.
Swiggy's Sales Growth
One of the standout insights from the analysis is the consistent growth in sales that Swiggy experienced over the two-year period. In 2023, the company saw almost 20% increase in overall sales compared to 2022. This growth trajectory is even more impressive considering that in 2022 itself, Swiggy had a steady quarter-on-quarter growth of 1.2 times. This indicates a robust and growing market for food delivery services in India, driven by changing consumer habits and the convenience offered by these platforms.
Swiggy One Member vs Non-Member Split
The Swiggy One membership program has played a pivotal role in driving sales. In 2022, 40% of transactions came from Swiggy One users, a figure that impressively rose to 60% in 2023. This spike underscores the effectiveness of loyalty programs in retaining customers and encouraging more frequent orders.
Swiggy’s Performance from Sponsored Events
Sporting events significantly influenced Swiggy's sales. During the 2022 IPL period, the company saw 15% of its annual sales, while the T20 World Cup accounted for 20%. In 2023, these figures interestingly reversed, with the IPL contributing to 20% of sales and the ODI World Cup to 15%. This data highlights the impact of major events on consumer behaviour and the potential for targeted marketing strategies.
Swiggy’s Average Order Value
Despite the variations in sales volumes, the average order value remained relatively stable over the two years – 370 INR in 2022 and 390 INR in 2023.
Swiggy’s Average Discount
The average discount per order also remained consistent at around 100 INR for both years. This consistency is crucial for business predictability and indicates a balanced approach to pricing and promotions.
Vumonic Datalabs' analysis of Swiggy's two-year performance offers valuable insights into the evolving food delivery industry in India. The steady growth in sales, the significant impact of loyalty programs, and the influence of major sporting events paint a picture of a dynamic market responsive to innovative strategies and consumer trends. As the industry continues to evolve, Swiggy's approach of balancing consistent pricing with strategic marketing during key events sets a precedent for success in this competitive landscape. With a keen understanding of consumer behaviour and market dynamics, Swiggy is well-positioned to maintain its growth trajectory in the coming years.
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Disclaimer: The information provided in this blog is based on the data analysis conducted by Vumonic Datalabs and is subject to market dynamics and fluctuations.
Vumonic Datalabs is a global consumer intelligence platform. We provide high-quality, deterministically linked, large structured data that can be used to derive deep consumer, business, and market insights. Our proprietary data pipelines deliver unbiased actual transaction data collected in a privacy secure manner via large global panels.