Sriharsh Majeti said that it is not like Swiggy and Zomato are the only ones competing in the fast commerce market. (Rep/PTI file)
The days of ordering goods from e-commerce companies for delivery within a day or two are almost over. The new era is one of fast commerce, delivering goods within 10 minutes of your order.
Recently, Swiggy Instamart CEO Sriharsh Madjeti said that as strange as it may sound, netizens usually order the most bedsheets on the e-commerce platform.
Speaking at the CNBC-TV18 Global Leadership Summit, Majetti said, “What do you think people want to order most in 10 minutes? Who would believe if I said that people order the most bedsheets on Instamart? But, it is true that on our platform, most bedsheets are ordered for quick delivery.”
He added that earlier people were mostly looking for batteries and now there has been an increase in orders for bed sheets. The line between e-commerce and e-commerce is blurred. Other e-commerce companies are also moving towards faster delivery.
“Our company may not be everywhere, but other players are also jumping into the field and there is competition for faster delivery,” he said.
Speaking about his challenges as CEO, Majeti said, “Ever since we started the company, the biggest challenge I faced was getting everyone together. It became more difficult as we progressed, but taking people along has become the secret of our success today. It’s not always easy, but as the company grows, it becomes the foundation.”
Majeti said it is not that Swiggy and Zomato are the only competitors in the market.
“When Swiggy was launched in 2014, there were more than 19 players in the market. Today the e-commerce market has grown to $5.5 billion (roughly Rs. 50,000 crore). Initially, it was used for delivery of grocery items. Now it has started delivering electronics, clothes and sports equipment,” Majeti said.