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'Zomato Market' likely to shut down after 2 months of testing
June 08, 2020
Zomato launched its grocery delivery service two months back and apparently it has come into notice it plans to shut down this medium due to revenue problems.
This service was launched in 80 cities and planned to provide essential necessities in whatever way possible to the people.
The source close to the Financial Express Online said,” This perhaps is not working out for them. Hyperlocal delivery, as we know, needs heavy cash burn with very little margin. Also, I don’t think the response to this (grocery business) was the way the company expected.”
After unlocking 1.0 lockdown relaxations, Zomato is said to focus on spending making its food delivery the safest and most loved on in town, as stated by its spokesperson.
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