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Valentine's Day 2024: Data Shows Record-Breaking Profits for Quick Commerce and Food Delivery Platforms
In terms of revenue, Valentine's Day was when businesses saw their highest-ever order volumes. Many Indians chose to celebrate the day of love by going out to eat.
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Valentine's Day turned out to be highly profitable for quick-commerce and food delivery platforms
Love and gifts were in the air, and Indian couples were indulging in romance on platforms for speedy commerce and meal delivery. There was more to look forward to this year than just chocolates and roses. Zepto, Blinkit, Swiggy Instamart, and other platforms partnered with the popular gift company Archies.
These partnerships made it possible for the leader in the social expression market to quickly deliver balloons, cuddly toys, and even love letters right to your door. It's already possible to see the outcomes. In terms of sales, the Day of Love earned the platform more revenue than even New Year's Eve as there was a huge surge in orders.
Blinkit CEO claims to have achieved its highest-ever one-day orders
Moneycontrol reported that Albinder Dhindsa, CEO of Blinkit, a Zomato-owned platform, said that the business achieved its highest-ever orders in a day. He said, "Valentine's Day was a hit. We'll end up hitting our highest-ever orders in a day. NYE 2023 is (the) highest till now."
According to Blinkit's filings, gift orders accounted for 32% of all Valentine's Day orders. According to the Moneycontrol research, during the third quarter that concluded in December of last year, the site fulfilled an average of 6.2 lakh orders daily.
Swiggy and Zomato see a rise in sales
Swiggy, Zomato's competitor, also performed comparably. According to a representative, the website's rapid delivery service, Instamart, is about to smash its records. Not just Swiggy and Zomato but other businesses also experienced an unparalleled surge in orders as a result of Valentine's Day. Zepto's CEO and co-founder, Aadit Palicha, stated that the company gives away free chocolates with every order, and as of Wednesday at 4 p.m., it had sent about 3 lakh free chocolates.
According to the CEO of Swiggy, reservations for two on the dine-out platform increased by 95.47 percent over the previous weekend. Popular gift retailer Ferns & Petals stated that it anticipated a 25% rise in sales over the previous year. Rose Day, which falls on February 7, saw the sale of five lakh roses as a result of the prolonged celebration of love. FNP sold 350 roses in a minute, or six roses every second.
Similarly, greeting card company Archies predicts sales of about 5 lakh cards this year as compared to the 3.75 lakh cards sold on Valentine's Day last year.
ALSO READ: NASA Sends Valentine's Day Wishes by Sharing a Picture of a Cosmic Bloom Resembling a Rose
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