Swiggy has launched a pilot project in Bengaluru to deliver medicines in just 10 minutes, partnering with e-pharmacy company PharmEasy. This new initiative is an extension of Swiggy Instamart’s existing service, which already provides basic over-the-counter (OTC) medicines, like pain relief sprays, through its quick commerce platform. By working with PharmEasy, Swiggy can now expand its offerings to include prescription drugs, without requiring additional regulatory permissions.
Customers can order a wide range of medications, from pain relievers to fever medicines, by uploading a prescription through the platform or opting for a consultation with a PharmEasy doctor to obtain one. Swiggy’s move into e-pharmacy is seen as a strategic push to attract new users, increase average order values, and boost profitability.
This service aligns with the trend in quick commerce to diversify into new sectors, with competitors like Blinkit already ahead in average order values in the quick delivery space. With plans to go public, Swiggy is intensifying efforts to improve profitability through expanded services, even as it recently reduced its valuation target and increased platform fees for its food delivery services.
Swiggy reported a 36% rise in revenue to Rs 11,247 crore for FY24, while losses reduced by 44% to Rs 2,350 crore. However, its recent quarterly financials show a 27% rise in expenses, with the company aiming to counterbalance these costs by capturing more market share through diversified quick commerce services like this new 10-minute medicine delivery.