Swiggy, the hyperlocal food and grocery delivery platform, has introduced a new and more affordable version of its Swiggy One membership program, known as Swiggy One Lite. This move is aimed at attracting price-conscious consumers to its platform. Swiggy One Lite offers a range of benefits, including free deliveries, exclusive offers, and discounts, all at a launch price of just Rs 99 for three months, as announced by the company in a recent blog post.
With a Swiggy One Lite membership, users can enjoy 10 free deliveries on food orders exceeding Rs 149 and an additional 10 free deliveries on Instamart orders above Rs 199. Moreover, members will receive up to 30% extra discounts across a vast network of over 20,000 restaurants, in addition to the regular offers. Additionally, Swiggy One Lite members can benefit from a 10% discount on Swiggy Genie deliveries for orders exceeding Rs 60.
Swiggy is also planning to offer the Swiggy One Lite subscription plan as part of business-to-business (B2B) memberships by bundling it with products from brand partners in the telecom and banking sectors. This strategy leverages the popularity of the membership program to enhance the value proposition for customers and potentially increase subscription numbers.
Swiggy initially launched Swiggy One in November 2021, offering users unlimited free deliveries from select restaurants, free deliveries for Instamart orders, and the elimination of surge fees, among other features.
Anurag Panganamamula, Vice President of Revenue and Growth at Swiggy, expressed excitement about introducing Swiggy One Lite, highlighting its affordability and value for customers, particularly those who have yet to experience the benefits of the Swiggy One program.
In July, Swiggy collaborated with HDFC Bank to launch a co-branded credit card, expanding its presence in the financial services sector. The company has been actively exploring various avenues for growth and expansion, including diversifying its offerings and enhancing user experience. In March, Swiggy rebranded its morning grocery delivery service as InsanelyGood and ventured into e-commerce with Maxx, offering one-hour delivery services. The integration of artificial intelligence (AI) in its platform also enables features like voice typing and personalized recommendations.
Additionally, Swiggy is reported to have resumed its initial public offering (IPO) plans, with a target to list the company on Indian stock exchanges by July-September 2024, as per a Reuters report from August.
