Swiggy's Bolt accounts for one in every 10 orders: Food Marketplace CEO
Bolt, Swiggy's 10-minute ready-to-consume food delivery service, is currently available in more than 700 cities and now accounts for one in every ten orders on the platform, revealed Rohit Kapoor, CEO, Swiggy Food Marketplace.
Speaking at the launch of the 'How India Eats' report by Swiggy and Kearney on Thursday, November 27, Kapoor added that Swiggy expects Bolt to remain a key driver of its food services growth, having already reached 10% of total deliveries.
“It will continue to play a strong role... It’s not like it is going to be the only channel,” Kapoor told reporters when asked about the growth trajectory of the 10-minute service. He added that the demand for quick food delivery is being fuelled by customers wanting specific items at specific times, and restaurants curating offerings to meet that need.
On whether Bolt’s expansion would increase the company’s cash burn, Kapoor said it would not, noting that it has no “big impact” on Swiggy’s economics.
“In fact, it's good for frequency, good for uptake. It is not likely to consume any cash from our side. Each order is profitable for sure,” he added.
Kapoor did not provide a specific growth outlook for Bolt but reiterated Swiggy’s overall guidance of 18–20% year-on-year growth in gross order value (GOV).
Asked about internal changes following the government’s recent labour code announcement, he said the company is studying the developments. “When the time comes, we'll be ready for it.”
For businesses at scale, he added, clear legislation is more important than any short-term cost implications, responding to analyst concerns that the new code could raise costs for aggregators, which might then be passed on to consumers.
(With inputs from PTI)
Edited by Jyoti Narayan
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