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Zomato's Blinkit sprints to quick commerce dominance in India

TechCrunch · 1y ago

Zomato's Blinkit sprints to quick commerce dominance in India

India's quick commerce market has experienced significant growth and remains vibrant despite the decline in other markets. It has seen a 10-fold growth between 2021 and 2023 and currently holds a 7% share of the total addressable market estimated at $45 billion. Zomato's Blinkit leads the market with a 46% share, followed by Swiggy's Instamart (27%) and newcomer Zepto (21%). The success of quick commerce relies on efficient supply chains, investments in dark stores, and partnerships with FMCG manufacturers and farmers. However, profitability remains a concern for investors, and the long-term sustainability of the model is still uncertain. Flipkart is also reportedly considering entering the market.

Related News

Zomato halts Blinkit integration, shifts focus on building super brands

Inc42 · 1y ago

Zomato halts Blinkit integration, shifts focus on building super brands

Foodtech giant Zomato has decided to pause the integration of its quick commerce arm Blinkit and instead focus on building "super brands." Zomato CEO Deepinder Goyal expressed that super apps have not been as successful in India as they have been in China and that Indians gravitate towards super brands. Zomato plans to maintain a separate identity for its food delivery platform and quick-commerce unit, developing Blinkit as an independent brand. The integration will primarily focus on sourcing synergies with Zomato's B2B supplies vertical, Hyperpure. Zomato's rival Swiggy has opted to integrate its quick commerce vertical, Instamart, directly into its main app. Blinkit turned contribution positive in Q2 FY24, recording 45.5 million orders during this period.

Zomato's market cap tops $20 bn with quick commerce surge

The Arc Web

The Arc Web · 1y ago

Zomato's market cap tops $20 bn with quick commerce surge

Zomato's market capitalization has reached over $20 billion, making it the most valued internet company in India after Flipkart. This increase in value is attributed to the company's profitability in the food delivery business and its entry into quick commerce through the acquisition of Blinkit. Blinkit, which was acquired for $569 million, now accounts for around 40% of Zomato's current market capitalization. Zomato's CEO, Deepinder Goyal, believes that Blinkit will surpass the food delivery business in terms of growth.

Blinkit launches Sellers Hub for brands

YourStory

YourStory · 8m ago

Blinkit launches Sellers Hub for brands

Quick commerce platform Blinkit has launched Blinkit Sellers Hub, a platform that allows brands to sell their products directly on Blinkit without intermediaries. The move puts Blinkit in competition with established ecommerce platforms like Amazon and Flipkart. Blinkit's parent company, Zomato, has also recently increased the platform fee on its food delivery platform, signaling its focus on quick commerce growth. During the reporting quarter, Zomato's quick commerce arm doubled in size and added more dark stores and warehouses to support its expansion plans.

UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz

Economic Times

Economic Times · 10m ago

UBS pegs $15.4 billion enterprise value to Zomato's Blinkit biz

According to UBS, Blinkit, a quick commerce platform valued at $15.4 billion, is contributing to Zomato's valuation more than its main food delivery business. UBS values Zomato at $32.1 billion, with quick commerce and food delivery both showing strong growth. Blinkit plans to expand its network of dark stores to 2,000 by 2026. UBS also noted increased competition in the quick commerce space, with new players such as Flipkart Minutes entering the market. UBS valued Zomato's food delivery business at $12.2 billion and its going-out business at $1.6 billion.

Retail group seeks antitrust probe of quick commerce companies Swiggy, Blinkit, Zepto

Economic Times

Economic Times · 8m ago

Retail group seeks antitrust probe of quick commerce companies Swiggy, Blinkit, Zepto

India's leading group of retail distributors, the All India Consumer Products Distributors Federation (AICPDF), has filed a request with the antitrust authority to investigate quick commerce companies Zomato's Blinkit, Swiggy, and Zepto. The federation alleges that these companies are engaged in predatory pricing, offering deep discounts to attract customers and undermining the traditional salespeople who have delivered orders for decades. Quick commerce platforms in India are expected to generate over $6 billion in sales this year, with Zomato's Blinkit holding nearly 40% of the market share. The Competition Commission of India (CCI) has the authority to initiate investigations if they find merit in the complaints.

All eyes on Blinkit as brokerages raise price targets on Zomato ahead of Q3 earnings

Inc42 · 1y ago

All eyes on Blinkit as brokerages raise price targets on Zomato ahead of Q3 earnings

Brokerage firms, including Goldman Sachs, Jefferies, and HSBC, have raised their price targets on Zomato as the company's food delivery and quick commerce businesses continue to grow. Goldman Sachs increased its price target to INR 160, citing Zomato's rapid growth in the food delivery market and its strong performance in the online grocery segment through Blinkit. Jefferies raised its price target to INR 190, expecting Blinkit to drive Zomato's growth. HSBC, however, expects Zomato's Q3 earnings to be muted, with a focus on the quick commerce business for future growth.

Quick-commerce platform Blinkit to sell PlayStation 5

Economic Times

Economic Times · 1y ago

Quick-commerce platform Blinkit to sell PlayStation 5

Zomato-owned quick-commerce platform Blinkit announced that it will be selling the PlayStation 5 in India on its platform. The popular gaming console from Sony will be launched in India on April 5. Blinkit has been expanding its product categories by partnering with brands and offering products that were previously only available on e-commerce platforms. This move is part of Zomato's larger strategy to scale up its quick-commerce operations and build its own supply chain for directly sourcing branded products. Blinkit has already made its foray into other categories such as fashion and electronics.

Quick Commerce Platforms Expand Into Smaller Cities Ahead Of The Festive Season

Inc42 · 9m ago

Quick Commerce Platforms Expand Into Smaller Cities Ahead Of The Festive Season

Swiggy Instamart and Zomato's Blinkit are expanding their quick commerce services to smaller cities, expecting a surge in sales during the upcoming festive season. Swiggy has introduced its service in Udaipur, Warangal, Salem, Amritsar, and Kanpur, while Zomato's quick commerce arm has also started expanding into smaller cities. Both companies aim to benefit from the growing demand for quick delivery services in the online shopping market.

Zomato Shares Tank Nearly 5% After Macquarie Forecasts Nearly 50% Downside

Inc42 · 1y ago

Zomato Shares Tank Nearly 5% After Macquarie Forecasts Nearly 50% Downside

Zomato's shares dropped by 4.9% to INR 172.5 on May 31. The decline followed a prediction by brokerage Macquarie that Zomato's share price could decline by 50% in the next year. Macquarie cited increased competition in the quick commerce sector, specifically with Zomato's Blinkit service.

Zomato hits record high, bucking internet stocks' sluggishness

Economic Times

Economic Times · 1y ago

Zomato hits record high, bucking internet stocks' sluggishness

Indian food delivery company Zomato has become the most valuable internet stock in India, with a market capitalization of over $18 billion. Although many new-age internet companies that went public in 2021 saw their stock prices decline, Zomato has managed to defy the trend. The company's consistent earnings improvement and successful growth targets have impressed investors. Zomato's dominance in the food delivery market, along with the potential growth of its quick commerce business Blinkit, has positioned it as a frontrunner in the industry.

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