Food delivery giant Swiggy launched its "99 Store" on Monday, offering single meals at a flat ₹99 with free delivery across more than 175 Indian cities, marking the company's most aggressive push into the budget dining segment as competition intensifies in the sector.
The new service targets Gen-Z consumers and budget-conscious users with quick-prep dishes spanning biryani, rolls, noodles, burgers, pizzas, and regional cuisines, all delivered free through Swiggy's "Eco Saver" mode with a minimum order value of ₹99.
The launch comes as ride-hailing startup Rapido prepares to enter the food delivery market within two weeks, offering restaurants a commission-free model with curated items in the ₹100-150 range12. Unlike Swiggy and rival Zomato, Rapido plans to charge restaurants flat subscription fees rather than commissions on orders1.
"At ₹99, this isn't just a price point—it's a promise," said Rohit Kapoor, CEO of Swiggy's food marketplace34. "Whether you're on a college budget or just looking for a fuss-free lunch, this is Swiggy's most value-driven offering yet."
The 99 Store is integrated within Swiggy's main app and features a dish-forward layout highlighting top-selling items for easier discovery45. Cities include major metros like Bangalore, Delhi, and Hyderabad, as well as tier-2 hubs such as Patna, Dehradun, and Mysore34.
According to brokerage firm Bernstein, Swiggy currently holds a 42% share of India's food delivery market, which remains only 8% penetrated with significant room for growth1. The firm expects Swiggy to maintain its position despite rising competition, citing the company's customer acquisition efforts and innovative features1.
Food delivery platforms face mounting pressure to drive frequency and retention amid slowing growth in recent quarters2. The budget-focused initiative could help Swiggy boost order volumes by targeting users who typically hesitate due to delivery fees or prefer smaller-value meals2.
Swiggy's shares closed 3.44% lower at ₹491 on the NSE following the announcement1. The stock has fallen 27.26% year-to-date but remains up 0.88% over the past 12 months2. Of 23 analysts tracking the company, 17 maintain "buy" ratings with an average price target implying 7.5% upside potential2.
"We've worked closely with our restaurant partners and delivery teams to make everyday meals more affordable without cutting corners," Kapoor said34. "This is a big step in making Swiggy a true everyday choice for millions."
