Zomato Piggybank crosses 1 million users in two months

Zomato

New Delhi, 17th September 2018: Zomato announced earlier today that its loyalty program Zomato Piggybank, which was launched to a small set of users 2 months ago, has crossed a membership base of over 1 million users.

Zomato Piggybank is a reward points program with which, once subscribed, every time a user orders food online from Zomato’s food delivery platform, 10% of the order value is credited back as Z Coins into the user’s Zomato Piggybank. These credits can later be redeemed against orders placed at Piggybank partner restaurants on Zomato’s food delivery platform. Additionally, every time an order is placed using Piggybank, Zomato donates ₹1 to Akshaya Patra Foundation, the world’s largest NGO running mid-day meal programs for children – on behalf of the user.

Deepinder Goyal, Founder and CEO, Zomato, said on the company blog, “We launched Zomato Piggybank two months ago with the objective of rewarding the regular users of our food delivery service, whilst also doing our bit in helping others give back to the society. The 1 million strong user base of Zomato Piggybank has placed over 2 million orders using Z coins and saved over ₹50 million till now. Word of mouth has worked wonders for us: ~30% of subscribers are still coming through referrals. Given that Piggybank was open to only select users (and those who they decide to refer to), the fast rate of adoption has iterated our belief that users are receptive to new and exciting products.”

Zomato Piggybank has also been a massive hit among the Piggybank restaurant partners for whom it is not only improving discoverability but also driving sales.

“Zomato Piggybank restaurant partners have witnessed a 10% share shift in the number of orders made by Piggybank users. Piggybank subscribers are now ordering more on a weekly basis, compared to the pre-Piggybank period. This upward trend is for more restaurants to be a part of Piggybank and adding more choices for the Piggybank users,“ added, Mohit Gupta, CEO – Food Delivery Business, Zomato.

Zomato had also promised to donate ₹1 on user’s behalf to Akshaya Patra Foundation whenever an order is placed using Piggybank. In two months’ time, Zomato has managed to raise ₹2 million in funds i.e. an equivalent of ~5,00,000 meals for Akshaya Patra. The food tech giant is glad to be the enabler for both its users and restaurant partners in giving back to the society while helping the company get a step closer to its vision of better food for more people.

• Zomato Piggybank crossed over 200,000 member sign-ups within 48 hours of its launch. This was 6X more than the reception to Zomato’s premium dine-out membership program Zomato Gold within the same time span since its launch.

• Zomato has over 50,000 restaurant partners on its food delivery platform – offering the widest choice to its users, and processes over 16.5 million orders a month.

• Zomato acquired Runnr in last September and currently has over 55,000 delivery partners as a part of its last mile delivery fleet. This is comparable to ~1800 delivery partners in Jan 2018.

• Zomato is also delisting hundreds of non-FSSAI compliant restaurants while making sure the company is upping the ante on food quality and restaurant hygiene every single day.

• Zomato recently acquired TongueStun – India’s largest player in the Food at work segment.

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