Swiggy's Toing pulling ahead of Rapido's Ownly in value food delivery, says JP Morgan
JP Morgan flags Swiggy's low-cost Toing offering is materially outperforming Rapido's Ownly on user adoption and order metrics, blunting Rapido's bid to crack the Swiggy-Zomato duopoly in value food delivery.
JP Morgan says Swiggy's new low-cost food delivery offering Toing is materially outperforming Rapido's Ownly on user adoption and order metrics, blunting Rapido's attempt to disrupt the Swiggy-Zomato duopoly in value food delivery.
Why this matters
Builds on Swiggy's user acquisition push and runway thesis citing 90% of India yet to order online, while Toing extends the brand's low-cost playbook against Rapido's Ownly challenge.
Retail-brand activity steady with 1,701 signals over the past 90 days.