As per company’s job posting linkedin and GetWork, the SoftBank-backed unicorn looking to establish a vertical that will focus on “community group buying”. Groceries, including fresh supplies, with the possibility of adding more categories in the future.
Swiggy is piloting a combination of external as well as internal hiring to create the vertical – which includes multiple technical roles.
“Swiggy Bazaar is our latest foray into the trillion-dollar Grocery market and there will be a community group purchase Destination. Over the past year in lockdown, consumers have discovered new ways to access better foods and some of these behaviors have proven resilient, creating tailwinds that the market will aim to ride out,” said a manager. According to a descriptive post related to the position the professional social network LinkedIn.
Bengaluru-based startup, which
In talks to raise funds from Invesco and others at a valuation of $10 billion, your non-food delivery verticals – such as hyperlocal grocery and
essential delivery service instamart – which contributes about 25% to its total revenue.
The company did not immediately respond to ET’s queries seeking comment. The news portal was Entrackr
to report first development.
Swiggy is foraying into the grocery-led group-buying category at a time when some well-funded players are trying to capture the market.
Social commerce platform DealShare uses a community group buying model and Meesho, also backed by SoftBank, joined the group earlier this year to buy groceries through Farmiso.
ET had reported last month that Meesho, who
Raised $570 million led by Fidelity and Bee Capital, is planning to use some of the fresh capital to grow its grocery business.
DealShare, Joe
Recently raised $144 million from New York-based investment firm Tiger Global, is also in talks to raise $150-$200 million as competition in the space intensifies.
It is one of three models commonly used by social commerce platforms, along with the reseller model pioneered by Meesho and live commerce by Trail.
Earlier this year, Walmart-owned Flipkart also
Stepped into social commerce through Shopsy, which claims to have garnered over 250,000 sellers since its launch three months ago. Shopsy isn’t available for Grocery yet.
A handful of social commerce startups such as Meesho, DealShare, Otipy and CityMall have attracted investors this year, especially those focusing on fresh groceries and packaged goods.
According to an analysis by market research firm RedSeer, the group buying market in India is estimated to be $50 million by 2020.
In a community buying group, a “local influencer” or community leader works with the platform and usually receives a commission for each order. These local influencers are well-connected in their communities and trusted by people in the neighborhood, which helps attract more customers to the platform.
Local influencers are responsible for ordering and delivering orders in their locality. Social commerce companies encourage them through monetary benefits, as these influencers help them tap into Tier 2 cities and beyond.
according to swiggy
Post At LinkedIn, the manager role will include experimenting with community-based marketing initiatives across social channels, including building and leading a team of “community leaders.”
According to the job posting, “Being a social commerce business, Marketer will experiment with novel community-based marketing strategies that you will help conceptualize and execute.”