Swiggy's 10-minute food delivery service 'Bolt' expands to 500+ cities
What's the story
Swiggy's speedy food delivery service, Bolt, has managed to expand its footprint to more than 500 cities in India.
The expansion comes after Zomato shut down its 15-minute food delivery service, "Quick," just four months after launching it.
Introduced in October 2024, Bolt provides a range of ready-to-eat meals from partner restaurants within a 2km radius and promises a quick 10-minute delivery time.
Growth
Accounting for 10% of Swiggy's orders
Since its launch, Bolt has emerged as a major contributor to Swiggy's business, contributing to more than one in every 10 orders on the platform.
The service has also partnered with over 45,000 restaurants, including popular fast-food chains such as KFC, McDonald's, Burger King, Subway, Faasos, and Curefoods.
Rohit Kapoor, CEO of Swiggy Food Marketplace, said that "seeing it scale to 500-plus cities in just a few months has been incredible."
Usage
Bolt boosts user acquisition and retention for Swiggy
Not just expanding Swiggy's reach, Bolt is also improving its user acquisition and retention.
The service has demonstrated a 4-6% higher monthly retention rate than the platform average for new users.
This suggests that Bolt is turning out to be a pretty effective strategy for attracting and keeping customers on the Swiggy platform.