large scale image
LCP Image

Back to TSCFM News

'Zomato Market' likely to shut down after 2 months of testing

June 08, 2020

'Zomato Market' likely to shut down after 2 months of testing

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.

Important Links:

Recommended for you ...

Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services
Modi, Mauritius, and Sri Lanka Leaders Unveil Digital Payment Services

February 12, 2024

Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices
Public Sector Banks Surpassing Private Peers, Investors Reconsidering Choices

February 12, 2024

Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices
Indian Banks Seek RBI Permission for Global Bond Trading Ahead of Inclusion in Indices

February 12, 2024

Enquire Now
REQUEST A CALLBACK
Chat on WhatsApp