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ETSA 2024 | Quick commerce not impacting kirana stores: Zomato’s Deepinder Goyal

Economic Times · 1m

- Deepinder Goyal, CEO of Zomato, stated that quick commerce platform Blinkit is not impacting local kirana stores, but rather affecting ecommerce platforms like Amazon and Flipkart. - Blinkit, Zomato's quick commerce division, achieved a revenue of Rs 942 crore in Q1 FY25, a significant increase from Rs 384 crore in the same quarter last year. - Blinkit reported a gross order value (GOV) of Rs 4,923 crore, with a 130% YoY growth in the April-June quarter. - Quick commerce platforms are operating as horizontal online marketplaces, offering a wider range of products and experiencing higher sales. - Blinkit's growth is attributed to increased consumption and a shift in market share from next-day ecommerce and mid-premium modern retail in major cities. - India's quick commerce market is projected to reach nearly $22 billion in gross merchandise value (GMV) by 2027, as per Bofa Securities.