Zomato-backed Magicpin, a participant on the Open Network for Digital Commerce (ONDC), said it was now processing 30,000 orders a day and was the largest seller app on the network that has giants such as Paytm, PhonePe and several others.
Clocking a growth of 50 percent month-on-month (MoM), order volumes at the Gurugram-based company have increased from 20,000 in the previous month.
"By the fifth week, which was early last month, we saw a massive leap to 20,000 daily orders, and now just another four weeks on and we have breached the 30,000 orders a day milestone on the network, all that in just nine weeks of joining the network,” said Anshoo Sharma, CEO and co-founder, Magicpin, which fulfils all backend logistics related to ordering and delivery on ONDC.
At present, retail orders mostly consist of the food & beverages category and a small volume of grocery.
Discounts are back
All the participants, like Paytm, Phonepe’s Pincode and uEngage, will offer exclusive discounts starting June 18, 2023 to celebrate ‘Super Save Sundays’ where users can avail a discount of around 50 percent on orders from across popular restaurants, the players said in a joint statement on June 16.
"We are thrilled to see this Sunday initiative by network participants, as it will propel more and more consumers to try this new way of digital commerce," said T Koshy, MD & CEO at ONDC. "We applaud such initiative by our Network Participants as well as sellers and their exclusive offers, which will create a vibrant experience that transcends traditional online shopping."
The announcement was after ONDC revised its incentive scheme for network participants from this month, to reduce the dependency on discounts for adoption, largely putting to rest questions around the network's potential to end the duopoly of Zomato and Swiggy.
Also, the maximum incentive spend per order has been capped at Rs 100, from around Rs 125 earlier. Importantly, all prices included, overall discounts should not exceed 50 percent of the total order value.
In the past few weeks, the number of daily retail orders have hovered around the 9,000-10,000 levels as discounts on the network sharply declined. The previous peak was achieved on May 8 when it had crossed the 25,000-mark for the first time.
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