Swiggy partners with PharmEasy for 10-minute medicine delivery in B'luru

NT Correspondent Bengaluru: Swiggy has reportedly partnered with PharmEasy to launch a 10-minute medicine delivery service, as the food tech giant seeks to expand into the online pharmacy market. This pilot program is being tested in Bengaluru, allowing customers to order pain relievers, fever medications, and other prescription drugs with rapid delivery. Swiggy’s quick commerce arm, Instamart, already offers basic over-the-counter (OTC) medications, including pain relief sprays and AYUSH products from FMCG brands.

However, this new partnership with PharmEasy aims to broaden Swiggy’s reach in the e-pharmacy sector by offering prescription drugs, setting the company on track to capture a share of India’s growing online healthcare market. This expansion is part of a larger trend where quick commerce platforms diversify their product ranges to drive higher average order values (AOVs) and order volumes. Swiggy’s current AOV is lower than competitors like Blinkit, which leads the quick commerce segment with an AOV of Rs 625 as of June 2024. The news follows Swiggy’s recent decision to reduce its IPO valuation target to $12.5-$13.5 billion.

Additionally, Swiggy recently raised its platform fee from Rs 7 to Rs 10 per order, indicating a push to improve profitability. This move into e-pharmacy aligns with Swiggy’s broader goal of becoming a comprehensive service platform and increasing its presence in India’s quick commerce sector.