As the largest food delivery service provider and leading start-up in India, Zomato plans to expand its service base in the wake of its huge IPO in the Indian stock market.
Zomato plans to go beyond food delivery to start selling groceries and invest in Groppers. Zomato said it was leaving the trading plan today, much to the delight of investors
Everyone knows that Zomato has been trying to get into the grocery business for the last few years. It was through this that Grovers planned to acquire the company in bulk a few months ago and then decided to acquire only a few percent of the shares.
Zomato and Croppers
It is expected that the Zomato and Groppers alliance will soon launch grocery sales through the Zomato App. While many companies are already in the segment, Zomato’s arrival is expected to make a big difference as Zomato’s rival, Swiggy, has recently started selling groceries.
But what is happening now is completely different, something no one expected. Zomato has withdrawn from the grocery sales program for the 2nd time in the last two years. This was stated in a statement issued by Zomato. It is no exaggeration to say that this announcement has made a huge impact among the Zomato customer.
Test program in the NCR area
To this end, Zomato has been implementing a 45-minute grocery delivery program in the NCR region as a pilot project since July. The test project ends next September 17th. Zomato plans to run this grocery delivery program on Market Place.
Zomato has announced that it is facing a series of changes in the supply of goods in the grocery delivery business in this pilot project and is facing a greater impact on meeting customer demand and poor customer experience.
Closure of the Neutroacutical Trade
Following this, Zomato announced the closure of its Nutraceuticals business, which sells its health and fitness products. This segment operates in a program that sells food items with health or medical benefits. It is noteworthy that last year Zomato COO Gavrav Gupta stepped down from his post to expand and promote the division’s business.
While Zomato customers are saddened by these two announcements, it is no exaggeration to say that they have been well received among investors. It is no exaggeration to say that the closure of non-profit or non-trading segments has increased the confidence of stock market investors in the company.
Getting into new trading in general is a favorite of private investors, but Zomato is currently listed on the stock exchange. Zomato has been learning through the company’s role activities over the past month to keep every step relaxed and responsible.
Shares of Zomato traded up 0.74 per cent at Rs 142.60 in today’s trade. In today’s trade, it has risen to a high of 143.70 rupees.