Every modern brand recognises the importance of marketing in enabling its growth story, and Zomato is unquestionably one of them. Zomato’s marketing strategy has been outstanding from its inception. Zomato is an India-based on-demand food delivery mobile application that spread its services over 24 countries with over one million eateries worldwide and receives 1.25 million orders every day.
It is reported that this food aggregator has consolidated a net loss of ₹186 crores for the quarter that ended June 30. The loss lessened 48 per cent from ₹359.7 crores of the same time last year. But, its revenue rises to 75% from the same quarter. The cause of this low QoQ (quarter-on-quarter) growth in 2022(Q3FY22) is people are more going out for dining. Based on the recent scenario, The CEO of Zomato, Deepinder Goyal has recently established a brand new business strategy that ensures Zomato will be Profitable soon. Before discussing Zomato’s new business Strategy, we’ll see what is Zomato and how it works.
What is Zomato?
Zomato is one of the most comprehensive and user-friendly on-demand food delivery apps, allowing users to search for nearby restaurants and cafés, buy meals online, and have them delivered right to their door. Furthermore, it delivers factual restaurant information by providing menus, reviews, and ratings. Users can then place orders and enjoy exquisite food at their leisure. Zomato has altered its business model. The market is thinking that Zomato will be Profitable with this new strategy business.
How Zomato works?
To understand Zomato’s new business Strategy, you need to know how it works. The workflow model is very simple.
Step 1: From the desiccated app solution or website, consumers can browse restaurants and place orders.
Step 2: When a restaurant owner receives an order request, he or she begins cooking a dish.
Step 3: Once the meal is ready for dispatch, it is given to delivery services.
Step 4: The dinner is delivered to the customer’s desired location.
Step 5: Customers can make purchases and provide evaluations based on their experience using the payment options provided. This ease of use encourages foodies to order food online.
If you are currently in a food delivery company and want to expand your reach, you need to build an app for your business. But, make sure that you’ve hired the Food App Development Company for that purpose.
How Zomato Started?
Deepinder Goyal and Pankaj Chaddah, two Delhi IIT graduates, started Zomato in 2008. Zomato was previously known as “Foodiebay” until November 2010. They noticed their coworkers looking for menus from several eateries in order to purchase food. That’s when the idea came to them to turn these manual menus into a digital format. Zomato has expanded its wings around the globe by 2012 and began to publish the number of eateries in the market. If this story inspires you to launch your on-demand food delivery app, you need to contact a reputed Food App Development Company that can build your app with desired features.
Zomato’s new business Strategy:
Zomato is undergoing internal rebranding by transitioning to multiple chief executive structures for its businesses, which will be housed under a larger organisation named Eternal. Zomato Multiple CEO Model- Eternal will include many companies that have different services. Presently, it is incorporated with Zomato (delivery + dining out), Blinkit, Hyperpure, and Feeding India. Deepinder Goyal, the company’s founder and CEO, described “Zomato’s new business Strategy as “boundless, timeless, undying, endless, and permanent.” He is very hopeful about Zomato’s future and believes that Zomato will be Profitable soon.
What is Zomato Multiple CEO Model?
In Zomato Multiple CEO Model, Depender Goya, The CEO of Zomato will co-operatively lead the business with other CEOs under the same roof of the brand “Eternal”. Apart from Mr Goyal, Eternal incorporates Albinder Dhindsa the Co-Founder and CEO of Blinkit, Rahul Ganjoo is the CEO of the start-food up’s delivery segment, Vishal Kumar, Mohit Gupta oversees new business development and Leader of Feeding India, a non-profit-acquired-by Zomato in 2019. In this model, all the CEOs are acting as peers to each other and working as a super team to build a single large and seamless organization. Zomato entered into the grocery business to compete with Big Basket through its grocery channel Hyperpure. This company is also included in “Eternal”.
Since the food tech supports fitness platform Curefit, hyperlocal discovery business Magicpin, and logistics provider Shiprocket, the “Eternal” umbrella may incorporate a Reliance Retail-style investment organisation (which invests in other businesses).
How Zomato will be Profitable soon?
Now, the question is will Zomato Multiple CEO Model help this company to make a profit or not? Zomato has faced a loss in the share market. Zomato’s share has dropped 76% in NSC in the last quarter of 2022. Simultaneously, QoQ (quarter-on-quarter) growth became low. These scenarios prompted the CEO of Zomato to launch Zomato’s new business Strategy in June 2022. According to Mr Goyal, Zomato has progressed from running a single business to running many significant businesses with this Zomato Multiple CEO Model. As it is going to run many vital businesses based on peoples’ demands, this model will help Zomato to generate more revenues after compensating for its net loss in the last quarter. So, the on-demand food delivery app Zomato will be Profitable soon with Zomato’s new business Strategy.
Zomato has changed its business strategy and launched Zomato Multiple CEO Model. Zomato’s new business Strategy brings a revolution in business. Understanding this change in the industry, market researchers think Zomato will be Profitable soon. Many entrepreneurs and business organizations are inspired by Zomato’s new business Strategy. If you’re one of them and have a plan to launch your food delivery app following Zomato Multiple CEO Model, you need to contact a reputed Food App Development Company. The experts of the company will guide you to launch a fully–functional, profitable app at the best price.