Swiggy Ltd., one of India’s top quick commerce firms, plans to restrain spending and focus on profitability while deeper-pocketed rivals Flipkart and Amazon.com Inc. intensify efforts to shrink delivery times and expand discounts.
CEO Sriharsha Majety said he’s made a deliberate decision not to try and keep pace as Walmart Inc.’s local arm and billionaire Mukesh Ambani’s Reliance Retail Ltd. compete to deliver goods to more people in as fast as 10 minutes. The younger company is willing to sacrifice some users in the short run while retaining more lucrative, loyal customers, he told Bloomberg News in an interview.