Latest News | MagicNow to Contribute 20 Pc to Total Food Delivery Biz This Fiscal: Magicpin CEO
Get latest articles and stories on Latest News at LatestLY. Hyperlocal e-tailer magicpin expects its quick commerce arm magicNow to contribute 20 per cent to the overall food delivery business this fiscal, a top official of the company said on Monday.
New Delhi, May 19 (PTI) Hyperlocal e-tailer magicpin expects its quick commerce arm magicNow to contribute 20 per cent to the overall food delivery business this fiscal, a top official of the company said on Monday.
Launched in September 2024, magicNow contributes 13 per cent to the overall food delivery business of the company, magicpin Founder and CEO, Anshoo Sharma told PTI.
"With magicNOW - 15 minute quick delivery vertical already contributing 13 per cent of our total food delivery orders, we're well on track to scale this to 20 per cent by the end of the financial year ," he said.
magicpin has expanded magicNow services from 6 metros to 20 high-density cities since its launch.
" magicNow is showing 10 per cent higher monthly retention than the magicpin's platform average. We have received a strong response from both consumers and restaurant partners, especially local merchants, and will continue to double down on this high-growth vertical," Sharma said.
Sharma said that magicNow has scaled up merchant and restaurants network from 3,000 to over 21,000 since inception which includes brand stores such as McDonald's, Taco Bell, Chaayos, Wendy's, Faasos, Burger King and local eateries.
Overall, magicpin claims to have a network of 2,75,000 retailers and around 3,000 brands across categories - fashion, food, electronics, grocery, nightlife, and entertainment on its platform.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)