Zomato’s CEO Deepinder Goyal highlighted the potential impact of prompt food delivery
In an interview, Zomato’s CEO, Deepinder Goyal, discussed the evolution of the food delivery market, particularly the potential impact of 10-minute deliveries on the industry
Reflecting on Zomato’s challenging journey during the COVID-19 pandemic, Goyal recounted the company’s drastic loss of business in March 2020, leading him to seek emergency funding. Goyal emphasized that Zomato’s success isn’t due to any particular strategy but rather a consistent focus on customer satisfaction and operational improvements. “We just stuck to our jobs and continued moving forward daily. I can’t see anything special we have done, to be honest,” he stated, noting has matured by prioritizing customer love over competition. When discussing the competitive landscape, Goyal acknowledged the challenges of quick commerce and emphasized the company’s adaptability. He admitted that it has historically been “late to the party,” whether in food delivery or quick commerce. However, he has learned from past acquisitions and focused on executing its current strategies effectively.
On the topic of 10-minute food deliveries, which have gained traction with competitors like Swiggy launching similar offerings, Goyal recognized the changing consumer expectations for speed. He pointed out that while Zomato Instant didn’t achieve the desired product-market fit, its new service, Zomato Every Day, aims to meet the demand for faster deliveries by offering simpler, canteen-style foods which can be prepared quickly. Goyal believes this shift towards quicker delivery times could redefine the food delivery landscape, as customers increasingly expect faster service, influenced by the quick commerce market. He suggested that the future could see more restaurants adapting to these expectations by offering quicker, more straightforward food options to satisfy demand. Overall, Goyal’s approach is grounded in a flexible, day-by-day strategy, focusing on nurturing talent within Zomato while remaining responsive to market changes.
