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India’s Quick Commerce Race: Blinkit on top after 2023; Can rivals catch up?

Inc42 · 1y ago

India’s Quick Commerce Race: Blinkit on top after 2023; Can rivals catch up?

The article discusses the challenges and prospects of quick commerce (q-commerce) in India, with a focus on the performance of Blinkit (formerly Grofers) in the sector. While the popularity of rapid grocery delivery surged during the pandemic, sustaining profitability and customer loyalty has proven challenging for many q-commerce players. Blinkit has emerged as a leading player in terms of customer service and app downloads. Other major players, such as Dunzo and Zepto, have faced financial difficulties and increasing losses. The article explores the future prospects and potential growth of the quick commerce market in India.

Related News

ETtech Q&A | Replicating Blinkit’s quick commerce moves won’t ensure success: CEO Albinder Dhindsa

Economic Times

Economic Times · 5m ago

ETtech Q&A | Replicating Blinkit’s quick commerce moves won’t ensure success: CEO Albinder Dhindsa

Blinkit, India’s largest quick commerce platform, nearly broke even in a recent quarter but faced increased cash burn due to competition. CEO Albinder Dhindsa believes it's a misconception that rivals can achieve profitability just because Blinkit did. The company raised capital to counter competitive pressures and emphasizes sustainable growth beyond mere market share. Blinkit is expanding into categories like beauty and electronics and exploring 10-minute food delivery through its Bistro initiative.

Swiggy GOV growth came at cost of profitability: Prosus

Economic Times

Economic Times · 1m ago

Swiggy GOV growth came at cost of profitability: Prosus

Swiggy, a food delivery and quick commerce company, achieved substantial business growth with a 29% increase in gross order value in 2024 and narrowed operational losses. However, early investor Prosus noted that profitability challenges accompanied this growth. The company expanded its quick commerce operations, led by Swiggy Instamart, amidst stiff competition from rivals like Zomato's Blinkit and Zepto. Despite profitability pressures, Swiggy aims for breakeven in the quick commerce segment within three to five quarters.

Swiggy steps up quick commerce investment to Rs 1,179 crore, eyes 741 dark stores

Economic Times

Economic Times · 9m ago

Swiggy steps up quick commerce investment to Rs 1,179 crore, eyes 741 dark stores

Swiggy is investing Rs 1,179 crore in its quick-commerce business, Swiggy Instamart, to expand its dark store network. The company plans to open more dark stores in cities where it already operates, as well as expand into new cities in the future. This investment comes as competition in the quick commerce sector increases, with rivals like Zomato-owned Blinkit and Zepto raising capital for growth. The quick commerce market in India is expected to reach $22 billion in gross merchandise value by 2027. Swiggy Instamart, Blinkit, and Zepto currently dominate the market with over 85% market share.

Blinkit operating revenue surges 3X to Rs 724 Cr in FY23

Entrackr

Entrackr · 1y ago

Blinkit operating revenue surges 3X to Rs 724 Cr in FY23

Blinkit, a quick commerce platform, experienced a three-fold increase in its revenue during fiscal year 2023 after being acquired by Zomato for $568 million. Its revenue from operations soared to Rs 724.2 crore in FY23, up from Rs 236.1 crore the previous year. Blinkit generates income from marketplace commissions, which accounted for 55.9% of its total operating collection. The acquisition appears to have been beneficial for Blinkit, with Zomato expressing confidence in its future profitability. However, a complete turnaround is still expected to take at least two years.

Zepto To Expand Cafe Service Across India

Inc42 · 8m ago

Zepto To Expand Cafe Service Across India

Zepto, a quick commerce company, has announced plans to expand its Cafe vertical. They aim to scale Cafe from 15% to 100% of its dark store network, with 100 new cafes launching monthly. The company is targeting INR 1,000 Cr revenue from the Cafe vertical in the next fiscal year, following a successful INR 160 Cr run rate. This expansion comes after rivals Blinkit and Swiggy introduced their own quick snack delivery services in select cities.

Zomato, its first full-year profit in pocket, turns focus on Blinkit

Livemint

Livemint · 1y ago

Zomato, its first full-year profit in pocket, turns focus on Blinkit

Food delivery giant Zomato is ramping up its quick-commerce business, Blinkit, with plans to add 100 dark stores by June. Zomato aims to have 1,000 warehouses for Blinkit by the end of the fiscal year, as it sees the potential for the quick delivery business to outperform its core food delivery operations. Blinkit, which Zomato acquired in 2022, turned operationally profitable in March and experienced a doubling of both revenue and gross order value in Q4. The company is focusing its expansion efforts on the top eight cities in India.

From Acquisition Talks to Talent Shift: Flipkart Taps Dunzo's Kabeer Biswas for Quick Commerce Boost

OutlookIndia

OutlookIndia · 6m ago

From Acquisition Talks to Talent Shift: Flipkart Taps Dunzo's Kabeer Biswas for Quick Commerce Boost

Flipkart recently sought to enhance its quick commerce division, Flipkart Minutes, by potentially recruiting Kabeer Biswas, CEO and last-remaining co-founder of Dunzo. Previously, Flipkart was unsuccessful in acquiring Dunzo due to complexities in its ownership structure and opposition from its major shareholder, Reliance Retail. Dunzo faces financial challenges and talent departures, including Biswas, potentially benefitting Flipkart in its competitive quick commerce market against major rivals like Blinkit and Zepto.

Swiggy to focus on Instamart; US pension fund delegation in India

VCCircle

VCCircle · 11m ago

Swiggy to focus on Instamart; US pension fund delegation in India

Swiggy plans to use a significant portion of the funds raised through its IPO to expand its quick commerce unit, Instamart. As competition intensifies from rivals like BlinkIt, Zepto, and BigBasket, Swiggy aims to double its network of dark stores that provide groceries and other essential items. The move comes as part of Swiggy's strategy to focus on the quick commerce segment and solidify its position in the market.

Zomato shares fall 5% following Jefferies downgrade, target price slashed to Rs 275

Economic Times

Economic Times · 7m ago

Zomato shares fall 5% following Jefferies downgrade, target price slashed to Rs 275

Zomato shares fell nearly 5% after Jefferies downgraded them to "hold" from "buy," cutting the target price to Rs 275 due to concerns over rising competition in the quick commerce sector. Rivals like Swiggy’s Instamart and Amazon threaten Zomato's profitability, leading Jefferies to lower earnings forecasts, EBITDA estimates, and EPS projections for Blinkit and Zomato. Despite Zomato's strong past performance, the competitive landscape poses risks to medium-term profitability.

Blinkit quarterly contribution margin turns positive first time ever

Economic Times

Economic Times · 1y ago

Blinkit quarterly contribution margin turns positive first time ever

Blinkit, Zomato's quick commerce arm, reported its first-ever positive contribution margin, with a 1.3% margin as a percentage of gross order value (GOV) in the latest quarter. Zomato also remained profitable for the second consecutive quarter, earning Rs 36 crore for the quarter ended in September 2023. Blinkit aims to break even in the quick commerce business by the first quarter of FY25. The company reported an increased average order value (AOV) and growing GOV, signaling its expansion in the quick commerce sector.

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