Hyperlocal e-commerce platform magicpin has significantly cut its platform charges to Rs 5 per delivery, half the fee of its competitors. This disclosure was made by Anshoo Sharma, the founder and chief executive officer of magicpin, on X.
This change comes just weeks after Zomato and Swiggy increased their platform fees by 42 per cent to 67 per cent. Zomato raised its fee from Rs 7 to Rs 10 per order, while Swiggy increased its charge from Rs 6 to Rs 10.
Sharma confirmed that magicpin will maintain this Rs 5 platform fee for food deliveries throughout the remainder of 2024, indicating there will be no further increases for the rest of the year. Prior to Diwali, magicpin had been charging Rs 7, but this reduction of approximately 29 per cent has resulted in a two-fold increase in orders compared to the previous year.
Since 2015, magicpin has been transforming the offline shopping experience in India. It claimed that it brings alive the joy of shopping and savings from local stores, which are the lifeblood of the economy. By connecting retailers big and small with customers, magicpin creates value for all in the hyperlocal retail ecosystem and allows them to leverage the fast-growing digital world.
Magicpin claims that it drives the discovery of brands and retailers across categories like fashion, food, electronics, grocery, pharmacy, home delivery, spa, nightlife, entertainment and more. It builds engagement and visibility for retailers and brands to help boost demand and offers an omnichannel platform to connect with relevant local customers.
