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Zomato leads even as Swiggy closes in
Mint Mumbai
|December 04, 2023
While fans were disheartened with the outcome of the ICC Men's Cricket World Cup 2023, a certain section has benefitted. The sporting event is likely to have boosted food ordering, benefiting companies such as Zomato Ltd and Swiggy.
"The online food delivery segment is likely to have seen a 5-8% year-on-year incremental growth in quarterly gross order value (GOV) during the World Cup," said Karan Taurani, analyst at Elara Securities (India).
But which company has gained more needs to be seen. Zomato estimates its GOV growth in the December quarter to be 25-30% year-on-year. For now, Zomato and Swiggy are neck and neck in market share. Swiggy's market share in the first half of 2023 (H1 2023) was 46%, according to calculations made based on the data released by Prosus, and Zomato's disclosed metrics. Prosus holds about 33% stake in Swiggy.
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