Bajaj Markets Ventures Into Grocery & Food Delivery Via ONDC

Bajaj Markets, the digital marketplace arm of Bajaj Finserv, has forayed into grocery and food delivery services via Open Network for Digital Commerce (ONDC). 

As per the Bajaj Markets app, the company’s grocery segment is being displayed under the ‘new launch’ category. Items including oil, rice, snacks, chocolates, biscuits and spices, among others, are being offered under the new vertical.

Notably, the app claims that these items will be delivered between 30 minutes and 2 days, depending on the category of the product. Besides, the company has also ventured into the food delivery segment.

As per Bajaj Finserv’s website, customers can order food from nearby restaurants. As per Inc42 sources, this service has been launched in integration with ONDC.

However, Inc42 could not verify this independently.

The publication has reached out to Bajaj Finserv and ONDC for comments on the developments. The story will be updated based on their responses. 

This comes on the back of Bajaj Markets recently joining the ONDC bandwagon. Last month, the company announced its integration with the network to facilitate its customers with electronic appliance delivery service. 

With this integration, the company is offering mobile phones, laptops, refrigerators, washing machines and smart TVs to its customers. 

ONDC’s Online Food Ordering And Delivery Bet

Since its inception, ONDC has onboarded several buyer applications, including Pincode, Ola, Tata Neu, Magicpin and now Bajaj Markets to offer food delivery services across the country.

In 2023, it had more than 50,000 restaurants actively participating in food delivery service.

Last year, the government-backed network slashed the maximum limit of incentives granted to its network participants by 84% from the earlier INR 2.5 Cr to INR 40 Lakh. 

The network capped the cumulative subsidy given to the buyer side app, the seller side app and the logistics platform to INR 40. 

However, now the network is planning to pay out subsidies of INR 100-150 Cr to food delivery companies on the network. With this incentive scheme, the buyer platforms like Magicpin, Paytm, Ola Consumer can offer discounts to the customers.

Largely, ONDC has a presence in foodtech, consumer goods, financial services, and mobility segments at the moment.

The network claims to have crossed the 200 Mn transaction mark over 2 years after starting operations in January 2023. 

(With Inputs From Bismah Malik)