Spencer’s Retail forays into quick commerce

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Spencer’s Retail forays into quick commerce Spencer’s Retail, the retail division of the RP Sanjiv Goenka group, has entered the quick commerce market with its new venture, Jiffy. The service will initially launch in Kolkata, followed by an expansion to other regions of West Bengal and then to Uttar Pradesh (UP). The retailer currently operates 89 stores across West Bengal and UP. The RPSG Group is reintroducing the Spencer’s app under the brand name ‘Jiffy’, offering merchandise delivery within 30 minutes. Shashwat Goenka, Chairman of Spencer’s Retail, stated that the company aims to fulfill orders within 20-30 minutes by utilizing its existing stores. The company also mentioned that it will not invest in a separate dark store network, instead managing delivery operations through a third-party fleet operator. In Q3 FY25, the company reduced its net loss to Rs 47.34 crore from Rs 51.20 crore. However, revenue fell 21% year-on-year to Rs 516.97 crore due to store closures. Recently, both established and emerging players have ventured into the quick commerce sector. Blinkit, Zepto, and Instamart dominate the market, while newcomers such as Flipkart, BigBasket, and Amazon are expanding their footprint. Most notably, Walmart-backed PhonePe has announced its entry into the quick commerce space with Pincode.