In an attempt to compete with Zomato, Swiggy has launched a cheaper version of Swiggy One

Users will be eligible for further discounts, 10 free Instamart deliveries, 10 free food delivery, and a 10% discount on Genie with the membership.

The expanded Swiggy One program’s additional sector would enable the leader in foodtech to more effectively monetize its platform.

Swiggy’s shortfall increased to $545 million in 2022 from $300 million in 2021, according to Prosus, one of its largest investors, in its annual report.

A less expensive version of its membership plan, Swiggy One, has been introduced by the world’s largest food delivery service, Swiggy. At a launch price of INR 99 for three months, Swiggy One Lite offers features including free delivery, exclusive deals, and discounts.

Users will be able to receive 10 free food deliveries on orders above INR 149, 10 free Instamart deliveries on orders over INR 199, additional restaurant discounts, and a 10% discount on Swiggy’s pick-and-drop service Genie with the subscription.

At a time when Swiggy is lagging behind Zomato in the Indian food delivery business, the new sector within the bigger Swiggy One program will help the foodtech giant to better monetise its platform.

The company provides limitless free food and grocery deliveries through Swiggy One, as well as additional savings at its restaurant partners. Most users must pay between INR 249 and INR 749 for the plan over three months, but a small number of consumers can get it for less money.

Zomato Gold, the company’s subscription service, costs roughly INR 199–299 for three months and offers unlimited meal deliveries, expedited processing of Gold orders, and additional savings. However, Blinkit, a vertical in grocery delivery, is not included in Zomato Gold’s advantages.

Anurag Panganamamula, vice president of revenue and growth at Swiggy, commented on the introduction of the less expensive version of the program: “After a successful B2B launch with leading players, we’re excited to introduce Swiggy One Lite on the Swiggy platform as a pocket-friendly alternative designed to bring value to our customers, especially those who have yet to experience the unmatched benefits of the Swiggy One program.”

Nine out of ten Swiggy One users, according to Panganamamula, use two or more services. Following collaborations with telecom and banking firms, Swiggy is now offering One Lite to customers on its platform. The foodtech giant claims that companies have been including a Swiggy One Lite membership with their products.

The world’s largest provider of food technology recently came under heavy scrutiny after several users claimed it was overcharging for orders.

However, Swiggy said that no client had been overcharged and blamed a technological glitch for the problem. “We are able to confirm that no clients were overcharged and that they made the right payment. We have now fixed the technical bug that caused this. Thousands of orders are still being delivered to clients per minute, according to a Swiggy representative.

Swiggy’s loss increased from $300 million in 2021 to $545 million in 2022, according to Prosus’ annual report, one of the unicorn’s largest investors. According to Prosus’ figures, Swiggy’s entire revenue increased from $600 Mn to almost $900 Mn during the year.

According to Swiggy’s FY22 reports, revenue was INR 5,704.9 Cr, but the company’s net loss increased to INR 3,628.9 Cr.