Food and grocery delivery platform Swiggy’s business has recovered fully from the effects of the COVID pandemic, pointed out Prosus, one of its biggest investors, pointed out in its annual report.
Swiggy’s gross merchandise value (GMV) grew 76% to $2.3 billion in FY22. Prosus said in its report, Swiggy heavily focussed on reactivating users, increasing monthly frequency and returning user conversion to levels they were at prior to the pandemic. “This strategy paid off as Swiggy has more than 195 000 active restaurants on its platform (+110% of pre-Covid-19 level), achieved 55% growth in daily orders; and 76% growth in GMV to US$2.3bn," the report said.
Swiggy also focused on expanding its quick commerce Instamart business, which performed well, increasing daily orders 10 times year on year.
This resulted in accelerated growth in the groceries vertical coupled with continuous growth in the restaurant food delivery business vertical, it further pointed out.