Swiggy Expands ‘Bolt’ to Over 500 Cities: A Game Changer in Food Delivery

In an exciting development for food enthusiasts, Swiggy has announced that its rapid 15-minute food delivery service, ‘Bolt,’ is now live in more than 500 cities across India. Launched in October 2022, Bolt has quickly gained traction, accounting for 10% of all orders on the platform, as reported in a recent statement from the company. This marks a significant increase from the 9% reported in the previous quarter.

Customer Retention and Growth

One of the standout features of Bolt is its impressive customer retention rate. Swiggy revealed that users acquired through this service exhibit a 4-6% higher retention rate compared to the platform’s overall average. This indicates that customers are not only enjoying the convenience of faster deliveries but are also likely to return for more.

• Over 45,000 restaurant partners: Swiggy collaborates with popular fast-food chains including McDonald’s, KFC, Subway, and Burger King.
• Strategic delivery radius: Bolt focuses on dishes that require minimal preparation time from restaurants located within a 2-km radius to ensure speedy service.

CEO’s Vision for the Future

Rohit Kapoor, CEO of Swiggy Food Marketplaces, expressed his enthusiasm, stating, "It’s remarkable to see Bolt scale to over 500 cities in such a short time. This is merely the beginning." The ambitious expansion of this service not only enhances customer satisfaction but also has the potential to reduce delivery costs due to shorter distances involved.

Competitive Landscape

This announcement comes on the heels of rival Eternal deciding to phase out its Zomato Quick service due to challenges with profitability and customer satisfaction. Founder Deepinder Goyal highlighted that existing restaurant infrastructure is insufficient for delivering meals in under 10 minutes, thus leading to inconsistent experiences for customers.

During a recent analyst call, CFO Akshant Goyal mentioned that while they are working to reduce Zomato’s average delivery time from 30 minutes, they do not foresee significant improvements towards the 10-15 minute target.

Conclusion

As the food delivery industry evolves, Swiggy’s Bolt is positioning itself as a leader in rapid service, appealing to customers who crave speed without sacrificing quality. With ongoing improvements and strategic expansions, it will be interesting to see how the competitive landscape shifts in the coming months.

In the meantime, food lovers can enjoy the convenience of fast deliveries through Bolt by accessing it directly within the Food section of the Swiggy app.