QUICK COMMERCE DELIVERIES
Food watchdog wants quick commerce companies to speed with caution
FSSAI officials have ramped up surprise audits at dark stores and D2C brands.
Q-comm audits; modest Q1 for IT firms
Happy Wednesday! Due to recent hygiene lapses by quick commerce, the government has intensified surprise inspections of their warehouses. This and more in today’s ETtech Morning Dispatch.
Food Inc eyes quicker commerce on match day
With India battling South Africa in the T20 World Cup final this Saturday, quick commerce, food delivery services, restaurants, and brands are bracing for a massive order spike. As fans cheer on the Men in Blue, bars and restaurants screening the match anticipate packed houses and a jump of 20% to 50% in online sales.
Ecommerce space heats up; and other top tech, startup stories this week
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. It has been a packed week for ecommerce and quick commerce news. The previous weekend began with Zepto scooping up $665 million in funding, at more than double its last valuation in 2023, which is a pivotal moment for the sector.
Flipkart explored a deal with Swiggy for a pie of quick commerce
Eight to ten months ago, discussions about a potential investment by Flipkart in Swiggy, two of India's biggest internet companies in the consumer sector, were underway. This potential alliance was driven by the changing landscape of the market, particularly the rise of quick commerce. However, due to disagreements on valuation, the talks ultimately fell through.
Swiggy’s revenue up 24% in calendar year 2023; quick commerce unit economics improve: Prosus
Prosus, the largest shareholder in Swiggy, reported a 24% revenue growth for the year ended March 31, 2024, with Swiggy's gross order value increasing by 26% year on year.
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Food contamination cases: E-tailers turn more watchful, prepare to delist errant manufacturers
A human finger found in an order of ice cream recently brought food etailing into sharp focus. Following this weird episode, etailers are beginning to cast a keen eye on their suppliers, and bringing new policies with provisions to penalise errant partners.
Discounting wars in quick commerce; tax relief for ecommerce suppliers
The recent funding raised by Zepto may trigger a discounting war in the quick commerce space. This and more in today’s ETtech Morning Dispatch.
How capital surge may fuel discount war in quick commerce space
The $665 million funding round at Zepto may trigger a discounting war among players like Blinkit, Instamart, and Flipkart. Blinkit faces increased competition in logistics infrastructure as the quick commerce market heats up.
A pivotal event for online commerce; and other top tech, startup stories
Stay tuned to know how the latest capital infusion into Zepto impacts the workings of this fledgling sector.
Zepto raises $665 million funding at $3.6 billion valuation to take on Blinkit, Swiggy Instamart
Company to double dark-store count to 700, taking on rivals Blinkit, Swiggy Instamart and Big Basket’s BB Now; DST Global, Lightspeed Venture Partners, Avenir Growth Capital and Avra joined as new investors in the round led by Glade Brook Capital, StepStone Group and Nexus Venture Partners.
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
Quick may click with electronics too: Instamart, BBNow, others plan to extend superfast delivery to handsets, white goods by Diwali
Swiggy Instamart, Zomato, and BigBasket plan to expand quick commerce services to electronic products and white goods categories, delivering within 10-45 minutes by Diwali.
Drone logistics solution provider Skye Air secures $4 million funding
Ankit Kumar, founder and CEO of Skye Air said this fresh funding will help the company to expand its last-mile network across Gurugram and other cities for various service like healthcare, ecommerce. Kumar added he is hopeful that his company will be able to contribute to India's drone sector growth and make India a global drone hub by 2030.
Ice cream nightmare highlights quick commerce's food safety issues
Food safety has become a concern in terms of quick commerce in recent weeks as a Mumbai customer found a human finger in Yummo brand ice-cream from Zepto. Walko Foods, the owner of Yummo, took the incident seriously and halted manufacturing at the third-party facility. A Blinkit facility in Hyderabad was also raided by food safety authorities.
Extreme summer heat & loss of productivity lead to an all-time high demand for delivery personnel
Extreme summer heat, rising absenteeism, and productivity loss have led to a high demand for last-mile delivery and warehouse personnel in India. About 2,000 delivery personnel are dropping off daily in quick commerce and 5,000 in food delivery, with an estimated 2.1-2.2 lakh people needed for replacement hiring daily. The monthly attrition of riders, warehouse staff, pickers, packers, and loaders is at a high of 30-40%.
Reliance Retail plans 30-minute delivery model for quick commerce re-entry
Reliance Retail is re-entering the quick commerce market with a 30-minute delivery model, focusing on a wider assortment of products than existing players like Blinkit and Zepto. They will leverage their network of stores and kiranas, connected through the JioMart Partner initiative, for product sourcing. Unlike competitors, Reliance will not set up dark stores for under-ten-minute delivery but will optimize delivery routes using tech platforms like FYND and Locus. The venture will start with groceries and expand to apparel and electronics, utilizing the 19,000-plus store network.
Why Mukesh Ambani can't ignore a new consumer habit
Reliance Industries (RIL) chairman Mukesh Ambani is expanding the company's retail empire to include quick commerce services through JioMart. This move aims to compete with players like Blinkit and BigBasket, leveraging Reliance's extensive reach and resources. The shift towards quick commerce reflects changing consumer habits, favoring convenience and instant deliveries.
Next disruption? Reliance’s JioMart to enter quick commerce space to take on Blinkit, Zepto and others
Reliance Industries, led by Mukesh Ambani, plans to enter India's quick commerce sector, aiming to compete with Blinkit, BigBasket, Instamart, and Zepto. Initially targeting 7-8 cities, JioMart aims to expand to over 1,000 cities. Unlike rivals, it will leverage Reliance Retail's network instead of dark stores. Goldman Sachs estimates the online grocery market at $11 billion, with quick commerce accounting for $5 billion, possibly affecting kirana store sales.
Online eats into offline; Agnikul defers rocket launch
The rapid adoption of quick commerce and food delivery apps is eating into the sales of retail, and quick service restaurants. This and more in today’s ETtech Top 5.
Food delivery, quick commerce take a bite out of QSR sales: brokerage reports
For the overall QSR industry, revenue growth for the final quarter of FY24 was at 9% on a year-on-year basis, down from 18% a year ago, while both same-store sales growth (SSSG) and average daily sales (ADS) declined, a report from brokerage firm BNP Paribas Exane said.
Zepto customer receives nearly-expired 10kg flour pack, company says 'eat it in 7-days.' What happened next?
Delhi resident Gajender Yadav received a 10 kg packet of wheat flour from Zepto with an expiration date just eight days away. Frustrated, he took to social media to share his experience, humorously inviting Zepto to help him finish the flour. The post went viral, prompting a response from Zepto, but further escalation occurred when customer care advised him to consume the flour within seven days. Yadav's witty updates and criticisms of Zepto's handling of near-expiry products gained widespread attention.
Amazon, Flipkart to have quick commerce play in certain categories: Delhivery CEO Sahil Barua
Quick commerce platforms like Zepto, Blinkit and Swiggy Instamart are venturing into ecommerce categories such as fashion, electronics, home appliances and luggage, and go beyond just daily essentials and groceries.
Zomato, Swiggy Instamart clock record orders on Mother's Day, beat New Year's Eve numbers
On Mother's Day, quick commerce and food delivery platforms saw high demand for gift items like flowers, handbags and chocolates.
Akshaya Tritiya buyers see the bright side; Q-comm coin deliveries see a hit
Industry executives in Kolkata predict a 20% year-on-year increase in Akshaya Tritiya sales value due to higher gold prices. Lightweight jewellery, including gold and silver coins, accounted for the bulk of demand, with gold trading at ₹72,633 per 10 gm on the auspicious day. Quick commerce platforms like Blinkit, Zepto, and Swiggy Instamart also contributed to the surge in demand, delivering gold and silver coins within 10 minutes.
Speedy rise and rise of quick commerce
Quick commerce, like Blinkit, revolutionizes grocery delivery in India, surpassing food delivery. Online grocers thrive with data analytics, inventory control, and competitive advantage over traditional retail.
Zomato shares may surge 18% as Blinkit likely to drive upside: Emkay Global
Emkay Global raises Zomato's target price from Rs 170 to Rs 230 per share, projecting an 18% upside potential, factoring in Blinkit's growth. With increased EPS and EBIT estimates, Blinkit's improved product-market fit drives valuation changes, indicating market expansion in metros and large cities.
Uber ups hyperlocal deliveries as quick commerce takes off
Delivers prepaid items from kirana stores; offers service in NCR, Bengaluru, Chennai, Hyderabad, Jaipur, Lucknow, Kolkata, Guwahati and Ludhiana
Uber’s hyperlocal push; Paytm Bank’s bill pay biz transferred
Happy Thursday! Ride-hailing platform Uber is strengthening its hyperlocal deliveries from neighbourhood stores. This and more in today’s ETtech Morning Dispatch.
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