Swiggy introduces 'Scenes' for live event booking, challenging Zomato's 'District'
What's the story
Swiggy has launched a new feature called "Scenes" to let users book tickets for live events. The move comes as a direct challenge to Zomato's recently launched standalone app, "District." However, unlike District, Scenes is integrated into the main Swiggy app, something that reflects the company's unified app strategy. Now, you can book for events at popular restaurants, NYE parties, and culinary events, through Scenes.
Market potential
Capitalizing on rising experimental spending
The introduction of Scenes comes at a time when experimental spending in India is seeing a major uptick. A YES Securities report predicts the live events market in India will hit new highs by 2026. Just in 2023, concerts raked in over ₹350-400 crore in revenue. Zomato also expects its "going-out" gross order value (GOV) to exceed ₹10,000 crore by FY26.
Market analysis
Analysts see opportunity in live events market
Analysts are bullish on the prospects of this market owing to supply constraints. Brokerage firm Jefferies saw Zomato's launch of District as a passive foreseeing opportunity coming out of a supply-constrained market. This indicates that there is plenty of room for growth and competition in the live events and experiences space, something that Swiggy's latest move with Scenes has highlighted.
Diversification strategy
Swiggy's diversification includes sports and service marketplace
Swiggy's diversification strategy goes beyond Scenes. The company recently set up a subsidiary for sports and recreation. It is also testing "Yello," a service marketplace connecting users with professionals like lawyers and therapists. Further, Swiggy has also launched One Blck, an invite-only program promising faster delivery and dining perks, expanding its bouquet of services even further.