- Competition in the Indian quick commerce sector has intensified since last year.
- Grofers turned himself into Blinkit after Zomato’s investment, while Swiggy pledged $700 million for his 10-minute delivery ambition.
- Zepto witnessed a whopping 946% user growth between December 2021 and March 2022.
- People between the ages of 25 and 35 are the most active users of delivery apps that promise fast delivery in 10 minutes.
The Indian quick-commerce industry has gained momentum after mainstream players such as Tata-owned Swiggy and BigBasket entered the market. Until the first half of 2021, Dunzo, backed by Reliance, was the only prominent player in this domain, while Zepto still found its place with its revolutionary 10-minute delivery.
But a lot has happened since then. Grofers, one of the top players on the market, has rebranded himself as Blinkit to demonstrate his ambition for 10-minute delivery. Powered by Zomato’s investment, Swiggy has also pledged $700 million for this domain, while BigBasket kick-started the 20-minute delivery options.
Thanks to big names, the big money coming into the market, valuations also improved, not least because of the increasing demand for these services. Zepto – a company founded by two teenagers who dropped out of Stanford – is now valued at $900 million.
The users themselves take advantage of the fast delivery options and thereby expand the market. Bengaluru-based market research firm RedSeer recently reported that India’s 10-15 minute delivery market is expected to reach $5.5 billion by 2025.