Fri. Mar 29th, 2024
GrofersSource: grofers.com

Online grocery delivery service platform Grofers on Monday announced that it is changing its brand’s ”Blinkit” to support its 10-minute delivery service.

The Zomato backed company commenced its quick service with a 10-minute delivery promise just a few months back.

“A few months ago, we started on a journey to build the future of commerce with 10 minute delivery of most of the stuff our customers need in their daily lives… We learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit – quick commerce,” Blinkit said in a blog post.

The blog post also said that the company has catered to over a million orders a week, across 12 Indian cities under the newly launched service.

“Today, we are surging ahead as a new company, and we have a new mission statement – ”instant commerce indistinguishable from magic”. And we will no longer be doing this as Grofers – we will be doing it as Blinkit,” the blog post noted.

Zomato Founder & CEO Deepinder Goyal took to Twitter and said “Delivering your everyday essentials in a blink of an eye. “

Last month, Grofers announced launching 150 dark stores by December, taking the total stores to 350 for 10-minutes delivery orders. At that time, Grofers had said that it has a 3 million monthly order run rate and it has grown 3.5 times in a span of the last 2 months, earning over one million new users for quick service.

Grofers’ competitions — e-commerce giants Amazon and Flipkart generally deliver orders in 90 minutes, which they call a fast delivery, but Grofers surpassed its competitors and came up with 10 minutes delivery which is the quickest delivery service in the market.  

According to a RedSeer report, the quick commerce sector is expected to rise to $5 billion by 2025 from $0.3 billion, the current figure.

Quick commerce will see a major rise mainly due to a shift in consumer behaviour, rising competition esp with the entry of BigBasket and Grofers, and growth of instant delivery platforms, as per the report.

Swiggy has previously announced a $700 million (about Rs 5,250 crore) investment in its Instamart quick grocery delivery business. Ola began testing a rapid delivery service for products like groceries in Bengaluru last month. Dunzo is one of the other participants in the market.

By Harshita Sharma

I bring to you updates from business, policy and economy spectrum.

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