Swiggy is one of the duopolists in Indian food delivery market & a leading player in the grocery delivery market.
They have recently launched a new separate app “Pyng Now” which helps “When ou’re planning an event, improving your health, growing your business, or learning something new—Pyng helps you find the right expert, faster.”. Using Pyng Now, users can instantly talk to AI bot of the experts/professionals & can hire their services if found relevant.
Pyng Now seems to be a random experiment with no synergies with their current businesses. What could Swiggy be seeing with Pyng Now which is not visible to naked eye?
What could Swiggy be seeing with Pyng Now which is not visible to naked eye?
Swiggy’s decision to launch Pyng Now could be driven by several factors, including potential synergies with their current businesses, unexplored market opportunities, and strategic vision to expand their product offerings beyond food delivery. Some possible reasons for Swiggy’s interest in Pyng Now could include:
Diversification into new markets: The success of Swiggy’s grocery delivery service may have inspired them to explore other opportunities within the on-demand app market. By introducing Pyng Now, Swiggy could be venturing into the “gig economy” or service marketplace segment, where customers can access various experts and professionals on demand.
Leverage existing customer base and technology: Pyng Now could be an attempt by Swiggy to tap into their vast existing customer base for their food and grocery delivery services and utilize their established technology infrastructure and AI capabilities to power Pyng Now’s AI chatbot. This could help them to quickly establish themselves as a leader in the on-demand expert/professional marketplace.
Synergies with Swiggy’s core value proposition: While Pyng Now may seem like an unrelated venture, it could still align with Swiggy’s core value proposition of providing convenience and time-saving services to its customers. By offering instant access to experts and professionals, Pyng Now could enhance Swiggy’s brand image as a one-stop solution for all customer needs.
Potential for revenue generation: With Pyng Now, Swiggy could tap into a potentially lucrative market for on-demand expert services, generating additional revenue streams and diversifying their business portfolio. This could also help them to reduce their dependence on a single market and strengthen their overall position in the current competitive landscape.