“We are not too worried about competition entering this space. The space is not small. We offer customers a service they didn’t know they needed. We will remain customer-centric,” Dhindsa said at the Indian Mobile Congress 2024.
Blinkit recorded Rs 942 crore in revenue during the first quarter of FY25, a significant increase from Rs 384 crore in the same period last year. It reported gross order value of Rs 4,923 crore, up 130% year-on-year in the April-June quarter.
Zomato-owned fast commerce platform looks to take its total The number of dark stores will reach 2,000 by the end of 2026..
The fast trading sector is seeing a lot of action, with companies entering the market to capture a share and attract the interest of venture capitalists.
IPO bound drink Instamart and based in Mumbai Zepto They are Blinkit’s two main rivals. Meanwhile, Flipkart has launched its fast trading service called Minutesand owned by Tata Digital large basket It has also pivoted towards the fast-trade model. Retail Trust has re-entered the fast delivery space, while Amazon is also preparing to launch its own service soon.
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Also read: Zomato to pump Rs 300 crore into fast commerce unit Blinkit as battle with Swiggy and Zepto intensifiesOn Thursday, ET reported that Zepto has held talks to raise another $100-150 million from a group of national family offices and high net worth individuals (HNIs) at a pre-investment valuation of $4.6 billion.
Blinkit currently has a gross sales ratio of $2.5 billion, while Swiggy’s gross sales ratio is around $1.5 billion by fiscal 2024. Zepto has a gross sales ratio of $2 billion.
New age brands are also expanding faster driven by the fast commerce channel. ET had earlier reported that the ultra-fast delivery segment has significantly boosted certain categories and SKUs in these channels, including premium products.
Also read: E-Commerce Logistics Companies Join Fast Trade Bandwagon as Orders Surge
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