Bengaluru, Aug. 3 -- Swiggy Ltd and Eternal Ltd-India's two listed food delivery companies-acknowledge that the next phase of growth will hinge on adding new users rather than driving higher order frequency among existing customers. However, their latest shareholder letters reveal sharply divergent strategies to achieve this.

Swiggy is banking on affordability through its dedicated, standalone meals app Toing to attract price-sensitive consumers, using its existing restaurant and delivery ecosystem. Zomato's parent Eternal, however, emphasises that lower-priced meals cannot be sustained by simply reducing commissions and delivery fees. Instead, it is investing in Bistro by Blinkit, a separate vertically integrated food business that rede...