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Consumers flock to quick commerce apps on Raksha Bandhan - The Economic Times
Economic Times
·
1d ago
Medial
Quick commerce platforms are experiencing increased demand during the Raksha Bandhan festival, with consumers turning to apps like Blinkit, Swiggy Instamart, and Flipkart Minutes for gifts and rakhis. Blinkit has started accepting international orders, while Swiggy noted a 3.5x increase in rakhi sales compared to last year. Flipkart Minutes reported higher demand for gift packs and sweets. There is a notable shift in consumer behavior towards planned shopping, with increased engagement from both tier-1 and tier-2 cities.
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Ola plans to open dark stores to enter quick commerce sector: ET
Hindustan Times
·
1y ago
Medial
Ola Cabs parent ANI Technologies plans to set up dark stores to enter the growing quick commerce segment, The Economic Times reported. The EV company will reportedly offer dark stores as a service "where the whole setup will be delivered with significant automation". Dark stores are small neighbourhood warehouses which stock products delivered by quick commerce services.
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Next-gen e-commerce: BigBasket’s Hari Menon to track the quick-commerce surge and currency of speed amid big opportunities—register now to join the Fireside chat at ET Soonicorns Summit 2024
Economic Times
·
10m ago
Medial
The e-commerce sector in India is projected to grow from $3.349 billion to $9.951 billion by 2029. Quick commerce, which focuses on accessibility and fast deliveries, is driving the growth of leading FMCG companies in the e-commerce space. To discuss this, Hari Menon, Co-Founder of BigBasket, will be speaking at the Economic Times Soonicorns Summit in Bengaluru. Menon, a pioneer in India's e-commerce landscape, will share insights on the rapid growth of quick commerce and BigBasket's strategies for success. The summit will feature discussions on various topics within the startup ecosystem of India.
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Hyperlocal Delivery Beyond Groceries: Diversifying Product Offerings In Quick Commerce
Inc42
·
1y ago
Medial
Quick commerce, also known as hyperlocal delivery, has evolved beyond grocery delivery to include a diverse range of products. With the growing demand for immediacy and convenience, quick commerce platforms are catering to consumers' on-demand needs by offering a wide range of products with lightning-fast delivery times. In addition to groceries, these platforms now provide items such as pharmaceuticals, electronics, pet supplies, household goods, stationery, books, and toys. However, expanding product offerings comes with challenges such as maintaining service quality, logistics complexity, and balancing variety with efficiency. Despite the challenges, quick commerce has the potential to revolutionize the way we shop for everyday essentials and more.
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Rapid delivery was a response to consumer feedback, not a marketing gimmick: Zepto CEO Aadit Palicha
Economic Times
·
3m ago
Medial
Zepto CEO Aadit Palicha stated that the company's move to rapid delivery stemmed from consumer feedback, not marketing. Customers preferred quick deliveries over waiting for hours, prompting Zepto to enhance delivery times. This approach aligns with India’s consumption patterns, with consumers often buying perishable goods frequently in small quantities. Competing with Blinkit and Swiggy Instamart, Zepto aims to scale quick commerce to match traditional ecommerce impact by 2025, prioritizing operational excellence and talent.
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CCPA Asks Quick Commerce Players To Prove Their ’10 Minute’ Delivery Claims
Inc42
·
1y ago
Medial
The Central Consumer Protection Authority (CCPA) has requested Blinkit, Swiggy Instamart, Zepto, and Big Basket (BB Now) to provide data supporting their claims of delivering orders within 10 minutes. They have been asked to share median delivery times across major cities such as Bengaluru, Mumbai, Delhi, Kolkata, and Chennai. The CCPA is looking to ensure that the companies' advertising messages align with the actual delivery times. This development comes as quick commerce players experience rapid growth in India's market, with consumers increasingly using this channel for purchases.
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Grapevine: Zepto, Quadria, TPG, Mensa Brands in news
VCCircle
·
9m ago
Medial
Quick-commerce startup Zepto is reportedly in discussions to secure $100-150 million in funding from domestic family offices and high-net-worth individuals. The pre-investment valuation for Zepto is set at $4.6 billion. Meanwhile, Motilal Oswal Group's private wealth arm is leading the fundraising efforts, with Motilal Oswal Asset Management committing $40 million. This development was reported by The Economic Times.
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'Online platforms changing buying pattern among urban consumers'
Economic Times
·
8m ago
Medial
Consumers in metro cities are increasingly shifting from top-up purchases to stock-up purchases on online platforms, according to Kanaka Bhagwat, head of ecommerce at NielsenIQ. Quick commerce and ecommerce sales have grown at a rate of 30% quarter-on-quarter over the past five quarters, driven by convenience and assortment. Ready-to-eat foods, salty snacks, refined edible oils, biscuits, and packaged atta have seen significant growth on quick-commerce channels. FMCG companies like Nestle, ITC, Hindustan Unilever, Dabur, and Emami have reported double-digit growth on quick-commerce platforms. In metro markets, quick-commerce and ecommerce contributed 85% to incremental sales in Q3 2024, signaling the growing dominance of ecommerce.
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Instant Apps Transforming Indian Cities, Flipkart Plans Foray
StartupTalky
·
1y ago
Medial
Instant grocery delivery apps like Blinkit, Zepto, Swiggy Instamart, BBNow, and Dunzo Daily are transforming the retail sector in Indian metro cities. These apps provide consumers with convenience at their fingertips, allowing them to browse and order everyday necessities with just a few taps on their smartphones. The growth of instant apps has disrupted traditional retail models, prompting retailers to rethink their strategies. With advancements in logistics and technology, these platforms are expected to expand their reach and provide personalized shopping experiences for users. The quick commerce sector in India is projected to reach a market size of USD 5 billion by 2025, driven by increasing smartphone penetration and changing consumer preferences.
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Quick Commerce was lapped up by the urban public, but has a long way to go
Economic Times
·
1y ago
Medial
Quick commerce in 2023 and was embraced by urban consumers. However, the concept still has a long way to go before becoming mainstream. The rapid delivery of goods and services offered by quick commerce companies has gained popularity, but challenges such as profitability and sustainability remain. Despite the growing demand, the article highlights the need for further innovation and infrastructure development to make quick commerce a viable business model.
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ETtech Q&A | Zomato to roll out new initiatives to stem slowing growth in food delivery biz: CEO Deepinder Goyal
Economic Times
·
5m ago
Medial
Zomato, recognized as the Emerging Company of the Year at The Economic Times Awards for Corporate Excellence 2024, plans new initiatives to revive its food delivery growth. CEO Deepinder Goyal highlights plans in quick commerce and exploring 10-minute deliveries in collaboration with restaurants. While maintaining disciplined execution, Zomato focuses on aligning the interests of restaurants, customers, and itself. The company emphasizes strategic investments in its various businesses like Blinkit, District, and Hyperpure to ensure sustainable growth and profitability.
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