Global restaurant search and discovery app, Zomato, has just announced that its online food ordering service has already clocked over 2 million orders in the month of March 2017. In comparison, Swiggy clocked around 1 million orders last year in May.
Zomato’s online food ordering service was launched in 2015 and in only about two years, the company has come up to process 2 million orders in one month. Zomato has a heavy presence in India and the UAE, and these volumes are a combination of both the countries.
The company is already profitable in India and the Middle East, and it continues to show in their financials. Zomato credits this achievement to a number of things, including the marketing budget for food ordering that still hovers around $50,000 per month.
From 12,000 restaurants a few months back, the number has grown to 18,000 restaurants now partnering with Zomato for online food delivery. There has also been an increase in the customer retention through improved customer experience and service.
What are the Key Statistics?
In the month of March 2017, online food ordering increasing by more than 23% over February 2017, which is a huge number. While there is no specific reason for this increase, it could be driven by the larger acquisitions and increase in options on the app.
Android contributes to ~48%, iOS to ~36% and Web to ~16%, which shows the dominance of the app over the web page. The share of restaurant-delivered orders is close to 90%, and average order value was ~Rs. 430 in India and ~AED 62 in the UAE. The average delivery time was ~38 minutes, only a little over the time promised by Dominos itself.
Zomato’s net margins on an average order are closer to 55%, which is an impressive number and shows that the company is moving in a positive direction. The online food ordering business has now captured almost 20% of the company’s revenue.
With the same enthusiasm, the company is looking to expand into 13 new countries outside India. In no time, Zomato has become a global brand, with strong presence in the Middle East and South-East Asia.
Look out for Zomato Gold which is going to be launched in India by the mid of this year, as the company now plans to become more than just a restaurant search and food delivery app. The company is aiming to involve every activity related to food and going out.
Source: Zomato
