Swiggy's new Market Intelligence Dashboard offers restaurants data on performance, customer behaviour, and marketing effectiveness.
The tool provides a score out of 100 for overall menu quality at both brand and outlet levels.
Restaurants can use the dashboard to benchmark against industry standards and identify areas for improvement.
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Days after IPO-bound Swiggy launched marketing tool ‘Smart Links’ to help restaurants widen online reach and boost orders, the foodtech major has now unveiled a new data tool for restaurant partners to gauge their marketing performance against peers.
The new tool ‘Market Intelligence Dashboard’ shows information about order growth, average order value and how efficiently the restaurant is operating, the company said in a statement.
It also offers insights into customer behaviour like the number of people placing orders after taking a look at the menu. Besides, it helps restaurants to track their marketing efforts on Swiggy.
The dashboard offers restaurants with a score on a scale of 100 at both brand and individual outlet levels on their overall menu quality.
“It effectively helps partners benchmark their performance versus the best in class, understand their areas of improvement or strength and make informed business decisions,” said Deepak Maloo, assistant vice president for supply at Swiggy.
The company further said that the new tool allows restaurants to benchmark their performance against industry standards, identify areas for improvement and make data-driven decisions.
Swiggy’s move mirrors similar efforts by its rival Zomato. Last year, the foodtech giant introduced ‘Zomato Food Trends’, an open platform providing insights on food trends in specific localities.
The new offering comes as the foodtech gears up for its much awaited $1 Bn public listing on the bourses later this year. In April, Swiggy turned into a public limited company, saying the transition would help it raise funds from the public, including through an IPO.
In preparation for the market debut, it has been streamlining and consolidating operations. Earlier this week, Swiggy strengthened its quick commerce business Instamart with four new vice president appointments across various roles.
Back then the Bengaluru-based startup said that these new appointments would further enhance the efficiency of its on demand services across India. This also comes at a time when ecommerce giant Amazon India has reportedly approached Swiggy for a potential deal involving Instamart.
In March, Swiggy also merged its premium grocery vertical InsanelyGood with Instamart.
Swiggy reported a loss of $207 Mn (INR 1,720 Cr) in the first three quarters of the financial year 2023-24 (FY24). In the entire FY23, its net loss stood at INR 4,179 Cr.
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