Amid heated competition in the quick commerce market, the second largest player Swiggy Instamart won’t be adopting a discount heavy approach to gain further market share. During Swiggy’s Q3 earnings call, Swiggy management opined that the strategy of “buying growth” via discounting often leads to customers switching platforms without loyalty rather quickly. While outlining the company’s bid to secure and retain market leadership, Instamart CEO Amitesh Jha underlined that this cannot be achieved by pouring money into discounts alone. Instead, it would require a focus on long-term structural growth driven by better SKUs and a sharper understanding of customer needs. “We believe the level of irrational competition in the market is so high that it is leading to customers switching from one platform to another without any real loyalty. What we see as healthy growth is when customers stick to the platform and come back again and again, rather than chasing whatever others are offering at any given point,” Jha said. As per him, what works in this case is the value proposition the company offers to the end consumer. “Our assortment, our approach to understanding what customers actually need, and ensuring that we deliver that assortment, is the right… Read MoreInc42 Media
Home Uncategorized Swiggy Instamart Says It Won’t ‘Buy Growth’ With Discounts Amid Quick Commerce...
