Swiggy Expands into Professional Services with New App
Swiggy has introduced a new app, Pyng, signifying its venture into the professional services marketplace. This launch follows the debut of Snacc, Swiggy’s dedicated food delivery application. Currently in its pilot stage, Pyng empowers professionals such as:
- Fitness coaches
- Yoga instructors
- Dance instructors
- Language tutors
- Educational coaches
These professionals can use the platform to:
- List their services
- Schedule bookings
- Track payments
- Adjust availability
- Update product offerings
However, details regarding the pricing structure for professionals remain unclear. It is uncertain whether Pyng will implement a subscription model, a commission-based system, or any alternative pricing framework.
While various established players dominate the services marketplace in categories such as:
- Home improvement
- Personal care
- Cleaning services
the market for specialised white-collar consulting roles appears to be relatively underserved.
Swiggy’s Competitive Landscape
Swiggy’s recent offerings, including Snacc in the rapid food delivery sector, paired with its 10-minute delivery feature Bolt and Swiggy Cafe service, position the company in direct competition with food delivery giants such as Zomato’s Bistro by Blinkit and Zepto Cafe. Additionally, Zomato has begun pilot testing its own 15-minute delivery service in select locations.
Previously, Swiggy intensified its focus on becoming a Super app, providing a range of services like food delivery, Instamart, and Genies within a single application. Nevertheless, the launch of two separate apps signifies a strategic shift. Swiggy maintains standalone applications for DineOut and Minis, a marketplace for direct-to-consumer brands.
Recently, Bernstein, in its research note, categorised Swiggy’s stock as ‘Outperform’, projecting a 25% increase in target price, anticipating that Swiggy will continue to solidify its position in the competitive quick commerce and food delivery sectors.