MagicNow to contribute 20% to total food delivery biz this fiscal: Magicpin CEO

New Delhi: Hyperlocal e-tailer magicpin expects its quick commerce arm magicNow to contribute 20 per cent to the overall food delivery business this fiscal, a top official of the company said on Monday.

Launched in September 2024, magicNow contributes 13 per cent to the overall food delivery business of the company, magicpin Founder and CEO, Anshoo Sharma told PTI.

"With magicNOW - 15 minute quick delivery vertical already contributing 13 per cent of our total food delivery orders, we're well on track to scale this to 20 per cent by the end of the financial year ," he said.

magicpin has expanded magicNow services from 6 metros to 20 high-density cities since its launch.

" magicNow is showing 10 per cent higher monthly retention than the magicpin's platform average. We have received a strong response from both consumers and restaurant partners, especially local merchants, and will continue to double down on this high-growth vertical," Sharma said.

Sharma said that magicNow has scaled up merchant and restaurants network from 3,000 to over 21,000 since inception which includes brand stores such as McDonald's, Taco Bell, Chaayos, Wendy's, Faasos, Burger King and local eateries.

Overall, magicpin claims to have a network of 2,75,000 retailers and around 3,000 brands across categories - fashion, food, electronics, grocery, nightlife, and entertainment on its platform.