SUMMARY
- The Government of India seeks data from quick commerce firms to study consumer trends and economic shifts.
- India’s quick commerce sector grew 230% from 2021 to 2023, driven by Zepto, Blinkit, and Instamart.
- Blinkit and Zepto expand dark stores to meet 10-minute delivery demand, with Zepto raising $665 million.
The quick commerce industry is expanding exponentially in India due to its increased demand. As a result, the Government is reportedly looking to tap data from big businesses in the industry, such as Zepto, Blinkit, Instamart, and BigBasket, to better understand changes in consumer behavior and the rate of economic activity.
According to an ET article, the government is undertaking this operation as a part of a larger attempt to update official statistics and change the base year for national accounts.
According to 1Lattice and Datum Intelligence, the quick commerce sector’s explosive growth drove grocery sales, which increased by over 38% in the first half of this year, and the 18–20% growth of the Indian e-commerce market. Quick commerce, driven by companies like Blinkit, Instamart, and Zepto, now makes up 40% of online grocery transactions and grew 230% between 2021 and 2023.
With the ability to provide useful insights regarding changes in demand, pricing, and consumption patterns, quick commerce platforms are extending their reach beyond groceries and fast-moving consumer items to include a broader range of goods.
Dark storefronts are now necessary for rapid commerce services like Blinkit, Zepto, and Swiggy, Instamart, as 10-minute delivery becomes the new norm. Flipkart has also shifted from fulfillment centers to the dark shop concept following two failed attempts at grocery delivery. Foodtech giant Blinkit’s crucial contribution to Zomato’s growth was demonstrated by the June quarter results. The firm plans to grow from its current 639 dark storefronts across the country to 2,000 by the end of 2026 while remaining profitable.
Zepto has also been expanding at an astounding rate. It secured $665 million in capital in June from a group of investors that included Glade Brook, Nexus, StepStone, and Lightspeed. The financing is especially important because Zepto wants to treble the number of dark stores it has by March 2025, to over 700. In the lead-up to its initial public offering (IPO), Swiggy’s Instamart is also growing its network and has bolstered its fast commerce strategy in recent months, seeing a notable increase in income.
Source: Inc42
