“We are not too worried about competition entering the space. The space is not small. We provide customers with a service they didn’t know they needed. We will stay focused on the customer,” said Dhindsa at the India Mobile Congress 2024.
Blinkit registered Rs 942 crore in revenue during the first quarter of FY25, a significant rise from Rs 384 crore in the same period last year. It reported a gross order value of Rs 4,923 crore, up 130% year-on-year in the April-June quarter.
The Zomato-owned quick commerce platform is looking to take its total dark store count to 2,000 by the end of 2026.
The quick commerce sector is seeing a lot of action, with companies entering the market to capture a share as well as attracting interest from venture capitalists.
IPO-bound Swiggy Instamart and Mumbai-based Zepto are the top two rivals for Blinkit. Meanwhile, Flipkart has launched its quick commerce service called Minutes, and Tata Digital-owned BigBasket has also pivoted to the quick commerce model. Reliance Retail has re-entered the quick delivery sector, while Amazon is also preparing to launch its own service soon.
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Also Read: Zomato to infuse Rs 300 crore in quick commerce unit Blinkit as battle intensifies with Swiggy, ZeptoOn Thursday, ET reported that Zepto has held discussions to raise another $100-150 million from a group of domestic family offices and high-net-worth individuals (HNIs) at a pre-investment valuation of $4.6 billion.
Blinkit is currently at a gross sales run-rate of $2.5 billion, while Swiggy’s gross sales run-rate stands at around $1.5 billion for fiscal year 2024. Zepto is at a gross sales run-rate of $2 billion.
New-age brands are also expanding more rapidly fueled by the quick commerce channel. ET had earlier reported that the ultra-fast delivery segment has significantly boosted certain categories and SKUs on these channels, including premium products.
Also Read: Ecommerce logistics companies join quick commerce bandwagon as orders rise