Zomato flags slowing food delivery demand

Food delivery major, Eternal’s (formerly Zomato) founder and CEO Deepinder Goyal on Thursday flagged a slowdown in the company’s food delivery business, attributing the trend to growing competition from quick commerce platforms and a dip in discretionary consumer spending. While announcing the firm’s January-March results, Goyal said that “growth does remain below our expectations for now,” noting that the rise in packaged food orders through services like Zepto Cafe, Swiggy Snacc, and Blinkit Bistro is “leading to a drop in the demand for food delivery from restaurants”.