Open Network for Digital Commerce’s (ONDC) internal study based on market intelligence datasets has shown that the e-commerce initiative has captured about 3% of Swiggy and Zomato’s food-order volumes.
The government-backed ONDC facilitates 60,000 orders daily in the food domain as compared to Swiggy and Zomato which receive 20 lakh orders each.
Its total order volume including mobility bookings was nearly 400,000 in a day. On July 7, 2024, ONDC marked a record 38,000 orders per day in Bengaluru’s food domain, which is 17% of the 220,000 orders volumes of Swiggy and Zomato individually. The platform’s food and beverages order count was 5.78 million from February 2023 to March 2024.
ONDC is a government initiative piloted in January 2023 to combat the oligopoly of e-commerce companies Amazon and Flipkart. The network might also partner with the National Restaurants Association of India (NRAI) for order tracking, connectivity, and discoverability, as the latter is associated with over 500,000 restaurants.
An Equity Research report on banking, financial services and insurance by Equirus Securities India, ONDC’s total transaction count was 10 million in June with 6.1 million non-mobility transactions and 3.9 million mobility transactions.
The report also stated that most of the growth came on account of non-mobility orders with 6 million transactions in June as compared to 3.6 million in March. Its transaction count has been increasing by a monthly rate of 1 million as noted in the last two months.
Reportedly, ONDC has also reduced volume-linked financial incentives for network participants by nearly 75% second quarter of the current financial year onwards.
