New Delhi: Zomato today announced a new app, ‘District’, to bring all “going out” activities under one platform as part of its plans to diversify its business. The initiative is strategic and would see the company expand its business portfolio into a whole array of lifestyle services beyond dining out and delivery.
‘District’ to take on BookMyShow, which has 60% market share of online movie ticket booking in India. Zomato bundles various aspects of the going-out experience together in ‘District’, such as dining, movie and event ticketing, sports, live performances, shopping, and staycations, to pose the product as an all-in-one solution for users looking to get out for entertainment and leisure activities.
“District,” according to Deepinder Goyal, Founder, of Zomato, is the strategic vision. “Today, Zomato and Blinkit are our two large consumer businesses, serving customers’ needs at home. But we also have one of India’s largest ‘going out’ businesses helping our customers discover restaurants for dining out.” According to him, “We believe that there is an opportunity to further expand our going-out offering, building on top of our dining-out business.”
It’s developing a one-stop destination for all kinds of going-out needs, and in this process, is quite possibly changing the way users plan and experience their leisure time. Zomato is leveraging its already existing user base and expertise in customer engagement to capture a sizeable share of this growing market.
Apart from this new venture, Zomato had announced a sharp financial turnaround only a few days ago. Its consolidated net profit surged to 2.53 billion rupees for the three months ending June, from 20 million rupees in the same quarter last year, as strong demand for its food and grocery delivery services drove revenue.
As ‘District’ gets ready for its launch, only time will be able to tell how well it can fight back established companies like BookMyShow and redesign the scene of lifestyle services in India. For now, though, this foray of Zomato into this segment may prove to be a game-changer and set the scene for a new innings in the going-out sector.
Zomato is set to challenge BookMyShow with its new app, ‘District,’ which aims to consolidate dining, movie, and event bookings into a single platform. The move marks Zomato’s expansion into a broader lifestyle sector, leveraging its established customer base and recent financial gains. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
