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Blinkit bets on inventory model
Mint Chennai
|May 05, 2025
Attracting more shoppers
Eternal Ltd's food delivery business Zomato has seen a linear drop in growth for all quarters in FY25. The net order value (NOV) growth of 14% year-on-year for the March quarter (Q4) is nearly half of 27% in Q1. The situation isn't too different for gross order value (GOV). True, the profitability ratio based on NOV is higher, but that's just because of a lower denominator, given that NOV is nothing but GOV minus discounts.
The management cited softness in discretionary spending among the reasons for the slowdown in food delivery. Plus, there was a temporary shortage of delivery partners. Also, it delisted 19,000 restaurants due to poor hygiene and misleading business practices. Also, Q4FY24 had one more day owing to the leap year, which weighed on growth.
Zomato is shutting down its 10-minute food delivery business 'Quick' due to inadequate restaurant density and a lack of good kitchen infrastructure. The homely meals service 'Everyday', too, is being discontinued, as scaling up beyond office locations would be tough.
This story is from the May 05, 2025 edition of Mint Chennai.
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