A report from HSBC Global Research said Zepto market share rose from 15% in March 2022 to 28% in January 2024. During this time, Instamart's share fell from 52% in March 2022 to 32% in January 2024.
“Blinkit customers can now get Lenskart.com products in 10 minutes. Starting with delivering sunglasses and their Hustlr range (Computer Glasses). Curious to see how Hustlr evolves as a brand over time,” the post read.
Sony will be launching PlayStation 5 in India on April 5. It was launched in the US in November 2023. This is an attempt by the quick-commerce company to push itself beyond groceries and essentials.
Zepto eyes $300 million fundraise for $2.5-3 billion valuation, targeting Ebitda positivity with $1.2 billion sales. Blinkit's GMV surpasses $1 billion; Zomato holds $1.5 billion cash; Swiggy prepares for IPO.
Sales were led by Holi-related items such as colour (gulaal), sweets, pichkaris and flowers. Adjacent categories--white t-shirts, coconut oil--also saw a significant surge in demand, said executives at quick commerce firms.
Zomato is not the same company it was 16 years ago when it was launched, founder Deepinder Goyal said. These comments come as the food delivery company plans to take Blinkit beyond just grocery delivery and essentials and venture into ecommerce.
The water purifiers from Urban Company will delivered within 30 minutes via Blinkit and subsequently be installed in three hours. This service was started on Sunday in parts of Delhi NCR, Mumbai, Bengaluru, Kolkata and Hyderabad.
Tata Digital's BigBasket rebranded its slotted delivery service as "Supersaver" in January, promising sub-two-hour deliveries. Meanwhile, Walmart's Flipkart is offering with free same-day delivery across various categories in 20 cities.
In a blog post on LinkedIn, Paul Hudson, founder of investment firm Glade Brook Capital, said that the market is already moving in this direction with Blinkit and Zepto expanding their product assortment. The fund had backed Mumbai-based Zepto last year and invested in Blinkit’s parent company Zomato back in 2019.
Over the next 3-4 years, the brand is also planning to foray into international markets like Dubai, Malaysia, Singapore, the UK, and Japan.
Hari Menon told ET that BigBasket will only diversify into adjacent categories to grocery like kitchen and home appliances. Meanwhile, rivals such as Zomato-owned Blinkit and Mumbai-based Zepto are rapidly diversifying into newer categories.
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