Acquisition project | Swiggy Minis

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Acquisition project | Swiggy Minis

Company Profile

Minis is the result of the diversification strategy of Swiggy. It is a self-serve platform that allows businesses to set up their online store and reach out and sell to customers - both local and pan India. Minis on Swiggy allows sellers to build their storefronts, upload product catalogues, and funnel existing and new customers from various channels to one unified selling platform with seamless payments and logistics integrations, all in a matter of minutes and with no technical know-how required.

Link - https://mini.store/

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Typical user journey of swiggy minis consist of 2 basic flow.

Onboarding Journey.
Order processing Journey.

Onbarding journey - The onboarding journey promises to help sellers create and make their store front live in 5 minutes.

Step	Action	Description	Key Interaction
1	Download App	Sellers download the "Swiggy Minis: Your Online Store" app from the Play Store or Apple Store.	Initiation of the onboarding process.
2	Get Started	Open the app and click on the "Get Started" button.	Entry point into the registration process.
3	Phone Number Entry & Verification	Enter the primary phone number and verify it via OTP.	Ensures contact authenticity.
4	Email ID Entry	Enter the store's email ID.	Establishes a secondary line of communication.
5	Store Name Setup	Set up the store name on a dedicated page.	Personalizes the store’s identity.
6	Category Selection	Select store categories on a separate page.	Defines the scope of the store's offerings.
7	Delivery Mode Selection	Choose the delivery mode (Intercity, Pan India, or both).	Determines the operational reach.
8	Delivery Charges Setup	Set the delivery charges based on the selected mode.	Financial structuring of delivery fees.
9	Payment Acceptance Method	Select a payment acceptance method (UPI or bank account) and verify the details.	Sets up the financial transactions system.
10	Pickup Address Selection	Select the primary pickup address.	Establishes the logistical starting point.
11	Catalogue Update	Update the product catalogue with the items for sale.	Finalizes the product offerings.

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Order processing journey.

Step	Action	Description	Key Interaction	Decision Point
1	Advertise Store	Seller advertises the store link/website publicly.	Increase store visibility.	N/A
2	Customer Discovers Storefront	A customer discovers the storefront.	Customer engagement with the store.	N/A
3	Pre-paid Order Placement	Customer places a pre-paid order after making a payment.	Ensures all orders are pre-paid.	N/A
4	Seller Receives Order	The seller receives the customer's order.	Acknowledgment of order receipt.	N/A
5	Seller Confirms Fulfillment	Seller decides if they can fulfill the order.	Decision to proceed with order fulfillment.	Yes to proceed, No to cancel
6	Order Cancellation	If unfulfillable, the order is canceled, and money is refunded.	Processing refunds to the customer’s source account.	N/A
7	Delivery Method Decision	If fulfillable, seller chooses the delivery method.	Option between self-delivery or using a 3rd party.	Self-delivery or 3rd party
8	Self Delivery Details	For self-delivery, seller provides tracking and contact details.	Pushes the order to "In Transit" mode.	N/A
9	3rd Party Delivery Partner Selection	Seller selects a delivery partner from available options.	Choice among all present delivery partners.	If first time, registration is required
10	Registration & Wallet Recharge	For first-time partners, seller registers and recharges the wallet.	Ensures account setup and payment readiness.	N/A
11	Input Weight & Dimensions	Seller inputs order weight and dimensions, places the order.	Order placement with the delivery partner.	N/A
12	Order In Transit	Seller updates order status to "In Transit."	Reflects movement of the order towards delivery.	N/A
13	Order Delivered	Order is marked as delivered by the seller.	Finalization of the delivery process.	N/A
14	Payout Triggered	Payout is triggered for the seller post-delivery.	Completion of the transaction cycle.	N/A

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Core Offerings:

The product has three core offerings

Zero Commission: Sell & grow your business on Minis to keep all your profits to yourself
Complete Control: Get complete access and control of your brand, orders and customer details
Engage with customers: Share customised items, answer their queries and more via Mini chat

Understanding the users: Customer Research

Interview Report 1: Priya - The Craft Enthusiast

Background: Priya, a 32-year-old from Bengaluru, has been passionate about handmade crafts for over a decade. Employed in a tech startup, she's always dreamed of turning her hobby into a business.

Goals: To reach a wider audience and establish a brand for her crafts.

Experience with Swiggy Minis: Finds the platform user-friendly and appreciates the logistic support that frees her to focus on creating.

Product Classification: Want. Priya’s crafts cater to customers looking for unique, handmade home decor and gifts.

Pain Point Solved: Provides a platform for unique, artisan products that are otherwise hard to discover.

Challenges: Struggles with marketing her store.

Desired Features: A feature for live sessions to showcase the making of her crafts, which can help in building customer trust and engagement.

Interview Report 2: Ravi - The Home Chef

Background: Ravi, 38, from Mumbai, has been sharing his culinary creations on social media. His specialty is fusion food.

Goals: To monetize his culinary skills by reaching local food enthusiasts.

Experience with Swiggy Minis: Pleased with the market reach and the immediate customer feedback.

Product Classification: Need and Want. Ravi’s fusion foods offer both a culinary adventure and solutions for busy individuals seeking quick, gourmet meals.

Pain Point Solved: Addresses the monotony in daily meals with unique, flavorful options.

Challenges: Finding a balance between cooking time-intensive dishes and managing large order volumes.

Desired Features: An advanced booking system for orders, allowing him to prepare in advance for bulk requests.

Interview Report 3: Anjali - The Organic Gardener

Background: Anjali, a 50-year-old from Jaipur, specializes in organic homemade pickles and jams. She's been selling locally for years.

Goals: To expand her customer base beyond her local community.

Experience with Swiggy Minis: Values the platform's ease of use and efficient delivery system.

Product Classification: Need. Her organic pickles and jams cater to health-conscious consumers looking for chemical-free food options.

Pain Point Solved: Offers a reliable source of organic homemade condiments, which are hard to find in regular stores.

Challenges: Expanding her product range while maintaining the homemade essence and quality.

Desired Features: A subscription model for regular customers, ensuring a steady demand and better inventory management.

Interview Report 4: Kunal - The Artist

Background: Kunal, 29, from New Delhi, is an artist who creates custom digital portraits.

Goals: To find a platform that can handle the logistics while he focuses on his art.

Experience with Swiggy Minis: Enjoys the creative freedom the platform offers.

Product Classification: Want. Custom digital portraits cater to individuals seeking personalized artwork.

Pain Point Solved: Provides access to affordable, custom art pieces for personal use or gifting.

Challenges: Communicating effectively with customers to understand their vision for custom orders.

Desired Features: An integrated communication tool within the platform for better clarity on custom orders.

Interview Report 5: Simran - The Fashion Designer

Background: Simran, 35, from Chennai, designs and sells custom clothing. She's been running a small boutique.

Goals: To reach fashion-forward customers across India.

Experience with Swiggy Minis: Happy with the platform's reach and the simplicity of setting up her store.

Product Classification: Want. Custom clothing appeals to fashion-conscious customers looking for unique pieces.

Pain Point Solved: Bridges the gap between traditional boutiques and the convenience of online shopping.

Challenges: Dealing with returns and exchanges due to sizing issues.

Desired Features: Virtual fitting room technology to help customers choose the correct sizes, reducing returns.

Interview Report 6: Neha - The Baker

Background: Neha, 27, from Pune, runs a home-based bakery specializing in healthy baked goods.

Goals: To grow her business online and explore new markets.

Experience with Swiggy Minis: Appreciates the platform for its efficient order management and delivery.

Feedback: Requests more customization options for packaging and presentation.

Product Classification: Need and Want. Offers both essential baked goods and luxury items for special occasions.

Pain Point Solved: Provides healthier alternatives to traditional bakery items, appealing to health-conscious consumers.

Challenges: Ensuring product freshness upon delivery, especially for distant orders.

Desired Features: Partnership with specialized delivery services for perishable goods to ensure products arrive in optimal condition.

Interview Report 7: Aarav - The Handloom Seller

Background: Aarav, 45, from Hyderabad, sells handloom sarees online. He aims to support local weavers by providing them with a larger market.

Goals: To showcase the variety and richness of Indian handlooms to a wider audience.

Experience with Swiggy Minis: Impressed by the platform's ability to reach interested customers across cities.

Product Classification: Want. Handloom sarees are luxury items for those who appreciate traditional craftsmanship.

Pain Point Solved: Supports local artisans by providing them with a platform to reach a national audience.

Challenges: Educating customers about the value and uniqueness of handloom products.

Desired Features: A feature to include artisan stories and the making process, enhancing customer appreciation for the craftsmanship involved.

Ideal consumer(seller) persona :

Here target customers for minis are sellers and goal is to onboard them to minis

ICP (Ideal Customer Profile)	1
ICP Name	Priya
Age	25-40 years
Gender	Female
Location	Tier 1 cities in India (e.g., Mumbai, New Delhi, Bengaluru, Chennai)
Income Levels	Potential to earn from their hobby/business
Marital Status	Both married and unmarried
Companies	Might be employed or have worked in various sectors including New Age Startups, Technology-Driven Companies, Traditional Corporates, or Self-Employed
Goals	To turn a passion or skill into a profitable business, desire for financial independence, want to reach a wider customer base
Pain Points	Limited market reach for their products, lack of platform to sell unique, handmade, or customized products, balancing day job and passion, lack of knowledge in logistics and order fulfillment
Where do they spend time?	Social media (for personal use and exploring business opportunities), Online forums and communities related to their hobbies, Craft fairs and local markets, Networking events, Online marketplaces
Current Solution	Selling through social media, Participating in local markets or craft fairs, Word of mouth, Limited online selling through existing marketplaces
Skills/Hobbies	Handicrafts, Baking/Cooking, Artwork, Jewelry making, Customized gift making, Gardening related products, Health and Wellness products
Looking For	A platform that provides ease of setup and use, Access to a wider customer base, Logistic and delivery support, Minimal initial investment, Marketing and promotional support

ICP (Ideal Customer Profile)	2
ICP Name	Anjali
Age	40-55 years
Gender	Female
Location	Tier 1 and Tier 2 cities in India (e.g., Pune, Hyderabad, Kolkata, Jaipur)
Income Levels	Has financial stability; looking for opportunities to utilize free time productively
Marital Status	Married with grown-up children or single
Companies	May have been a homemaker, part-time worker, or recently retired from a full-time job
Goals	To utilize free time by starting a business from home, share homemade or organic products with a wider audience, generate additional income
Pain Points	Limited access to market, lack of technical know-how to sell online, difficulty in managing logistics and delivery, need for a platform that simplifies the selling process
Where do they spend time?	Social media (to connect with friends and family and for business research), Gardening, Cooking and recipe forums, Health and wellness groups, Community events
Current Solution	Selling to neighbors and friends, Small-scale selling at local community events or through word of mouth, Limited online presence through social media platforms
Skills/Hobbies	Cooking, especially traditional or regional cuisines, Gardening, especially organic produce, Making homemade pickles, jams, and other preserves, Crafting organic health and wellness products
Looking For	A user-friendly platform that enables easy setup and sales, Access to logistics and delivery services, Minimal upfront investment, Guidance on pricing and marketing, Support for branding and reaching out to potential customers

Product category : Top Competetior

1. Amazon Local Shops

Strengths:

Brand Trust: Amazon's established brand name and vast user base provide a significant trust advantage.
Logistics and Delivery Network: Extensive logistics infrastructure ensures reliable and timely deliveries.
Technology and Platform: Robust technology stack, offering a seamless shopping experience with features like Amazon Prime, recommendations, and customer reviews.

Weaknesses:

Market Saturation: Highly competitive marketplace can make it difficult for new, small-scale sellers to stand out.
Fee Structure: Listing and transaction fees can be high, reducing margins for small sellers.
Generic Experience: The platform's broad focus might not cater specifically to the unique needs of local businesses and artisans.

2. Etsy

Strengths:

Niche Focus: Specializes in handmade, vintage items, and craft supplies, attracting a specific customer base looking for unique products.
Seller Community: Strong community support and resources for sellers, including forums, educational content, and marketing tools.
Customization and Personalization: Platform allows for a high degree of personalization in shop setup, which can help sellers create a unique brand presence.

Weaknesses:

Visibility Challenges: With a vast number of sellers, gaining visibility without additional marketing efforts can be challenging.
Fee Structure: Charges listing fees, transaction fees, and payment processing fees, which can add up.
Limited Product Categories: While excellent for crafts and unique items, it might not be the best platform for sellers outside these categories.

3. Shopify

Strengths:

Customizability: Offers extensive customization options for online stores, allowing sellers to create a unique brand identity.
Integrated E-commerce Tools: A comprehensive suite of tools for inventory management, payment processing, and marketing.
Scalability: Suitable for businesses of all sizes, from small startups to large enterprises.

Weaknesses:

Monthly Fees: Requires a monthly subscription, which might be a barrier for small sellers just starting out.
Technical Complexity: Setting up and customizing a store can be complex and might require technical knowledge or additional resources.
Self-Managed Logistics: Sellers are responsible for managing their logistics and deliveries, which could be a challenge for those without prior experience.

Understanding The Market Sizing

Total number of small business in Inidia = 6400000

Estimated Average Revenue per user = 10,000 rupees

Total addressable market = 6400000 x 10000 = 64000000000 rupees

Servicable Available Market (Assuming 20% of small businesses use Instagram or similar channels, indicating a readiness to sell online.) = 64000000000 x 0.2 = 12800000000

Servicale obtainable market (Assuming Minis can capture 20% of the obtainable market)

= 12800000000 x 0.2 = 2560000000

Currently the product is in PMF stage.

(Refer to Ideal consumer(seller) persona section )

JTBD for Ideal consumer persona 1

Category	Explanation	Example 1
Functional	Priya seeks a straightforward solution to transition her hobby into a profitable business, requiring an online platform that can manage sales, customer interaction, and inventory with minimal technical know-how.	Using Swiggy Minis, Priya aims to efficiently set up an online storefront that showcases her unique, handmade products, attracting more customers without needing to invest time in learning web development.
Personal	Priya aims to achieve financial independence and personal growth by turning her passion into a full-time business.	By choosing Swiggy Minis, Priya is looking to feel empowered and confident in her ability to run a successful online business, aligning her work more closely with her personal values and passions.
Financial	Priya is focused on maximizing her income potential from her hobby/business while minimizing startup and operational costs.	Priya uses Swiggy Minis to avoid the high costs associated with setting up a standalone e-commerce site, benefiting from the platform’s built-in features to increase her sales and profit margins with a minimal initial investment.
Social	Priya desires to elevate her brand's image and establish credibility in a competitive market, signaling her commitment and professionalism to potential customers.	By launching her business on Swiggy Minis, Priya communicates to her customer base that her brand is trustworthy, innovative, and customer-oriented, enhancing her social standing and brand perception among a wider audience.

JTBD for Ideal consumer persona 2

ICP (Ideal Customer Profile)	2
ICP Name	Anjali
Age	40-55 years
Gender	Female
Location	Tier 1 and Tier 2 cities in India (e.g., Pune, Hyderabad, Kolkata, Jaipur)
Income Levels	Has financial stability; looking for opportunities to utilize free time productively
Marital Status	Married with grown-up children or single
Companies	May have been a homemaker, part-time worker, or recently retired from a full-time job
Goals	To utilize free time by starting a business from home, share homemade or organic products with a wider audience, generate additional income
Pain Points	Limited access to market, lack of technical know-how to sell online, difficulty in managing logistics and delivery, need for a platform that simplifies the selling process
Where do they spend time?	Social media (to connect with friends and family and for business research), Gardening, Cooking and recipe forums, Health and wellness groups, Community events
Current Solution	Selling to neighbors and friends, Small-scale selling at local community events or through word of mouth, Limited online presence through social media platforms
Skills/Hobbies	Cooking, especially traditional or regional cuisines, Gardening, especially organic produce, Making homemade pickles, jams, and other preserves, Crafting organic health and wellness products
Looking For	A user-friendly platform that enables easy setup and sales, Access to logistics and delivery services, Minimal upfront investment, Guidance on pricing and marketing, Support for branding and reaching out to potential customers

Relevant acquisition channel for Swiggy Minis

For ICP 1: Emerging Online Seller

1. Acquisition Channel: Content Loops with Micro Influencer and Community Collaboration

Strategy: Partner with influencers and community leaders within niches relevant to the "Emerging Online Seller," such as crafts, homemade goods, and local artisans. This strategy includes sponsored posts, influencer endorsements, and collaborative online workshops or webinars that showcase how Swiggy Minis can help sellers easily transition from selling on social media to owning an online storefront.
Execution:
- Identify influencers and community leaders who align with the values and interests of the target persona.
- Organize collaborative events, such as live selling sessions or workshops, that demonstrate setting up an online store with Swiggy Minis.
- Offer exclusive Swiggy Minis sign-up codes or benefits through influencers to track effectiveness and incentivize their audience to join.
Feedback Loop:
- Implement a survey or feedback mechanism for participants of the influencer-led workshops or webinars to gather insights on the platform's appeal and areas for improvement.
- Analyze the performance of influencer partnerships through tracking sign-ups and engagement rates to refine the approach and select the most effective collaborators.

For ICP 2: The Hobby to Business Persona:

2. Acquisition Channel: Paid Marketing and Educational Resources

Strategy: Develop and distribute comprehensive content marketing materials and educational resources aimed at individuals looking to turn their hobbies into profitable businesses. This content should cover topics like "Starting Your Online Business 101," "From Hobby to Profit: The Beginner’s Guide to Selling Online," and "Leveraging Your Passion for Maximum Profit with Swiggy Minis."
Execution:
- Create a variety of content forms such as blog posts, videos, webinars, and e-books that address the common pain points and aspirations of the "Priya" persona.
- Distribute these resources through paid channels where the target audience spends time, such as social media platforms, hobby-related forums, and email newsletters.
- Include clear calls-to-action (CTAs) within the content that guide readers towards trying out Swiggy Minis, with an emphasis on the ease of setup, access to a wider customer base, and comprehensive logistical support.
Feedback Loop:
- Offer a feedback form or survey at the end of each piece of content or educational resource, encouraging readers to share their thoughts on the material and any remaining questions or hurdles they face in starting their online business.
- Utilize analytics tools to monitor which content pieces are most effective in driving engagement and conversions, allowing for continuous refinement of the content strategy based on user interaction and feedback.