ZEPTO NEWER CATEGORIES
Human finger in ice cream: Food safety concerns keep quick commerce companies on their toes
Food safety concerns have intensified for quick commerce companies in recent weeks, particularly after a disturbing incident in Mumbai where a customer discovered a human thumb in their Zepto ice cream order. This incident has brought the issue under greater public scrutiny. Here's a look at the latest episodes in the quick-commerce space.
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.
Paytm Bank slows down in Fastag lane; q-comm in soup over food safety
Happy Friday! Banks are gaining ground in the toll payments space as Paytm Payments Bank’s market share continues to plummet. This and more in today’s Morning Dispatch.
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.
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.
ETtech In-depth: Quick commerce is diversifying fast. It won’t be easy
As 10-minute delivery expands to include higher-value products, companies will soon realise that with big orders come big hurdles, say executives. Blinkit, Swiggy Instamart and Zepto have started selling products such as air coolers, fans and luggage, in addition to expanding into fashion, and listing high value items on their platforms.
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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
Quick-commerce grows beyond grocery; Tribe Capital’s latest India bet
Happy Friday! Quick-commerce platforms like Zepto, Swiggy’s Instamart, and Zomato-owned Blinkit are seeing a surge in sales for non-grocery items as they take on ecommerce rivals. This and more in today’s ETtech Morning Dispatch.
Mamaearth parent Honasa targets Gen Z users with cosmetic brand Staze
Honasa Consumer diversifies into colour cosmetics with Staze, targeting young consumers with affordable products. The company's strategic expansion aims to capture a share of the growing beauty market by introducing new brands and categories.
Groundbreaking of semiconductor plants; NPCI, fintechs huddle on UPI
Three chip plants, including two from Tata Group, approved by the Union Cabinet recently are set to break ground in ceremonies next week. This and more in today’s ETtech Morning Dispatch.
Not in a hurry to add new categories; will focus on grocery: BigBasket CEO Hari Menon
Hari Menon told ET that BigBasket will only diversify into adjacent categories to grocery like kitchen and home appliances. Meanwhile, rivals such as Zomato-owned Blinkit and Mumbai-based Zepto are rapidly diversifying into newer categories.
2023 Year In Review: quick commerce was lapped up by the urban public, but has a long way to go
While executives in the industry said that the public demand for quick commerce had been established, especially in urban and high-population-density areas, the key task in 2024 would be to improve profitability and experiment with various categories as well as sale events.
FMCG companies use tech to fill up stocks at Q-Comm partners
FMCG giants such as Nestle, ITC, Parle Products, LT Foods, and Coca-Cola are adopting real-time data exchange and demand forecasting to prevent stock-outs at quick-commerce (Q-comm) platforms like Blinkit, Swiggy Instamart, BBNow, and Zepto.
Winners of The ET Startup Awards 2023 to be feted today, and other top tech, startup stories this week
The Economic Times Startup Awards, honoring Indian entrepreneurs, will take place in Bengaluru. The winners across eight categories were announced, including OfBusiness as Startup of the Year and Jishnu Bhattacharjee of Nexus Venture Partners as Midas Touch winner. The event will also feature a panel discussion on sustainable businesses.
Red carpet awaits Indian startups as ETSA 2023 countdown begins
Union cabinet minister Piyush Goyal and minister for state Rajeev Chandrasekhar will be the guests of honour at the marquee event where the country’s most coveted prize for entrepreneurial excellence will be presented to the winners of the 2023 edition.
Watch out India, now Bharat has started to rise
In 2023 — three years of a global pandemic and waves upon waves of a deadly virus later — tier 2 and tier 3 cities are taking back the spotlight. According to an Economic Times survey, 30% of people surveyed in metropolitan areas want to move out of these cities.
On a sticky funding wicket, startups give IPL sponsorship a miss
Some new-age cos still negotiating to buy spot ad deals, instead of becoming sponsors.
ETtech Long Read: Quick commerce may find it tough to bag new users, investors in 2023
The tough funding environment is taking a toll on the rapidly evolving quick commerce segment, and the year ahead could be about getting by with existing customers.
Quick commerce apps nudge users to increase order sizes
Instamart and Zepto have been trying to nudge users to increase their order size by offering incentives for orders above Rs 1,000. Meanwhile, Dunzo has been incentivising customers to opt for a 60-minute delivery
How PhonePe is sharpening its ecommerce ambitions as it breaks away from Flipkart
To launch grocery side shopping on ONDC; sets aside $15 million for biz
The fate of the 10-minute delivery services is tied to India providing a ‘cooler’ solution
A range of issues has marred the cold chain industry, which have also become a barrier to the growth of other sectors. Now as e-commerce players start quick delivery services, cold storage players will have to reinvent themselves to tap the humongous rise in demand for refrigerated warehouses.
Govt De-Fies crypto hoarders; India’s 100th startup unicorn
Taxman could impose an additional 20% tax on such transactions and income.
Tata Digital snags founders, ecomm execs; Quick commerce scores in IPL; VerSe’s $805 million fundraise
“As we grow our footprint across the country and demonstrate strength across categories, we continue to augment our team across the board, that includes strategic positions within the company,” a Tata Digital spokesperson told ET.
Quick commerce delivers quick jobs; 2022 will see fewer but bigger deals
Insiders estimate that more than 400,000 delivery jobs will be up for grabs in the next 90 days, almost 50% more than this time last year.
Investing in new-age businesses: Perspectives from Indian family offices
A whole host of India-based SaaS startups are creating products that are being adopted by a global customer base, resulting in high-value companies with strong revenue streams.
IPL ad sales set to cross record ₹4,000-cr mark
The broadcaster has closed deals with 15 sponsors on TV and 13 on Disney+Hotstar, and media buying executives are saying the rates were at least 10% higher than the last year and with extra inventory - 74 matches, instead of 60 - the overall increase is much higher.
Roadblocks on Bhavish Aggarwal’s way to building a super app for Ola
In the run-up to its IPO, Ola is aggressively looking to diversify and position itself as a super app. But that may not be easy.
Ola plans aggressive push for Ola Dash in crowded quick-commerce arena
Ola is planning an aggressive push for its quick commerce service, Ola Dash, by setting up 500 dark stores across 20 cities in the next six months. It aims to clock more than 500,000 orders per day by the year-end.
Swiggy in talks to invest in Rapido as part of a larger financing round
If the investment deal goes through it will help Swiggy enhance its last-mile delivery capabilities and bolster its quick commerce ambitions. The funding will also be Swiggy’s first bet in the mobility sector.
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