Magicpin Emerges as India’s Third-Largest Food Delivery Platform
Magicpin expands its food delivery footprint with value-driven offerings, hyperlocal focus, and rapid growth, positioning itself as India’s third-largest food delivery app
sheetal
Amid a competitive market dominated by Swiggy and Zomato, Magicpin is carving its niche as India's third-largest food delivery platform, leveraging rapid expansion and innovative strategies.
The hyperlocal discovery platform recorded a stunning fifteen-fold growth, scaling from 10,000 daily orders in May 2023 to 1.5 lakh by September 2024 on the Open Network for Digital Commerce (ONDC).
Rapid Market Penetration and Competitive Pricing
Anshoo Sharma, Co-founder and CEO of Magicpin, highlighted their success in capturing 10% of the food delivery market in regions like Delhi and Bengaluru. Sharma credits this growth to their value-driven model, offering cashbacks and discounts to consumers while supporting local commerce.
Magicpin's competitive pricing strategy plays a pivotal role. For instance, a McDonald’s burger costs Rs 50 less on Magicpin compared to competitors, driving word-of-mouth growth and user acquisition.
Dominance on ONDC and Festive Boost
Magicpin dominates ONDC, fulfilling 90% of the network’s food orders. During the November 2024 festive season, Magicpin slashed its platform fee to Rs 5 per delivery, contrasting with Swiggy and Zomato’s Rs 10 fee, leading to 5 lakh orders over the festive weekend.
Diverse Offerings and Marketing Creativity
Beyond food delivery, Magicpin connects users with local merchants across fashion, furniture, and more, competing with platforms like Myntra and Tata Cliq.
Magicpin’s content-driven marketing approach shines through out-of-home (OOH) campaigns, like its witty take on Swiggy’s IPO or cricket-themed taglines, reinforcing its brand identity.
Future Plans and Expansions
For FY23, Magicpin reported Rs 315 crore revenue, a 40% advertising expense reduction, and plans to invest Rs 100 crore in onboarding one lakh new restaurants.
With operations in 12 cities, Magicpin aims to expand across the top 20 cities, solidifying its presence in India’s hyperlocal ecosystem.
By prioritizing local commerce, competitive pricing, and consumer rewards, Magicpin continues to position itself as a one-of-a-kind hyperlocal super app.
