Zomato, one of India's leading food delivery apps, announced the introduction of a 'pure veg' mode and fleet to cater to the country's large percentage of vegetarians. As a response to customer feedback about their dietary preferences being extremely important, Zomato aims to provide a separate fleet and curated selection of vegetarian-only restaurants for a guaranteed pure veg experience. The stock saw a 2.1% rise following the announcement, with analysts maintaining an 'outperform' rating and increasing their target price by 10%. The move has been received positively by many, including young people who now see their parents being able to use the app.
Zomato Introduces 'Pure Veg' Mode and Fleet for Vegetarians
Background
India has a large vegetarian population, estimated to be around 25-30% of the total population. As a result, there is a significant demand for vegetarian food options in the country.
Zomato's Initiative
In response to this demand, Zomato, one of India's leading food delivery apps, recently announced the introduction of a 'pure veg' mode and fleet. This move aims to cater to the growing number of vegetarians in the country and provide them with a safe and convenient way to order food online.
Key Features
Impact
The introduction of a 'pure veg' mode and fleet has been met with a positive response from many vegetarians in India. It allows them to order food online without worrying about encountering non-vegetarian options or potential cross-contamination.
Stock Performance
Following the announcement, Zomato's stock saw a rise of 2.1%. Analysts maintain an 'outperform' rating and have increased their target price by 10%. This indicates that investors are optimistic about the company's long-term prospects.
FAQs
1. What is the definition of 'pure veg' on Zomato?
A. Zomato defines 'pure veg' as restaurants that exclusively serve vegetarian dishes.
2. How do I enable 'pure veg' mode on Zomato?
A. You can enable 'pure veg' mode by tapping the 'Filters' icon on the Zomato app and selecting 'Pure Veg' under the 'Diet' section.
3. Is the 'pure veg' fleet available in all cities?
A. The 'pure veg' fleet is currently available in select cities in India, including Mumbai, Delhi, and Bangalore.
4. What happens if a non-vegetarian item is accidentally delivered to a vegetarian customer?
A. Zomato has a strict policy against any form of cross-contamination. In case of such an incident, the customer can contact Zomato support for a refund or replacement.
5. How has Zomato's 'pure veg' initiative impacted its stock price?
A. The introduction of the 'pure veg' mode and fleet has been positively received by investors, resulting in a rise in Zomato's stock price.
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