Tag: blinkit

  • Q-comm rapid growth weighs on DMart, stock falls over 8% – Times of India

    Q-comm rapid growth weighs on DMart, stock falls over 8% – Times of India


    MUMBAI: The stock price of Avenue Supermarts, which owns DMart, fell 8.4% on Monday on the back of subdued performance in Q2. Stiff competition from quick commerce platforms like Blinkit, Swiggy Instamart and Zepto in large metros has impacted the growth, analysts said. DMart‘s year-on-year consolidated revenue growth of 14% in Q2 was slower than its 18-20% revenue growth in the past few quarters, brokerages said. Morgan Stanley and JPMorgan downgraded DMart.
    Quick commerce platforms deliver groceries, household essentials and a range of non-grocery items to consumers at their doorstep in 10 minutes, nudging more people to sign up for the services. Tnn





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  • Zomato May Buy Paytms Movie Ticketing Business: Reports

    Zomato May Buy Paytms Movie Ticketing Business: Reports


    New Delhi: Online food delivery platform Zomato is in advanced discussions to buy Paytm’s movie ticketing and events business, according to multiple reports. This move aligns with Zomato’s plan to expand its ‘going out’ offerings. The potential deal could value Paytm’s vertical at around Rs 1,500 crore, as per reports. Zomato or Paytm were yet to comment on the reports.

    If finalised, this acquisition would be Zomato’s second-largest purchase, following its acquisition of quick commerce platform Blinkit in 2021, which was an all-stock deal worth Rs 4,447 crore. Meanwhile, Zomato has invested Rs 300 crore in its quick commerce arm, Blinkit, as this segment is projected to surpass its core food delivery business.

    The board of the company has approved the investment of Rs 300 crore in Blinkit Commerce, as per filings with the Registrar of Companies accessed via TheKredible. Additionally, Zomato will also invest Rs 100 crore in Zomato Entertainment, its events arm, which specialises in curating and selling tickets for concerts, parties, and festivals.

     



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  • RIL gears up to enter quick commerce space – Times of India

    RIL gears up to enter quick commerce space – Times of India


    MUMBAI: Mukesh Ambani’s Reliance Industries is all set to enter the quick commerce space to take on Zomato’s Blinkit, Tata Group‘s BigBasket, Swiggy‘s Instamart and Zepto. Reliance Retail’s JioMart could launch the service as early as next month, sources told TOI.
    To begin with, JioMart will deliver groceries in at least 7-8 cities and eventually scale up the service to cover over 1,000 cities.The development comes a little over a year after the company discontinued its 90-minute grocery delivery service JioMart Express. The plan now is to fulfil deliveries under 30 minutes, the sources said. Reliance Retail did not respond to queries.

    Reliance’s move comes at a time when Walmart’s Flipkart is also gearing up to foray into the quick commerce space, a concept which has found rapid traction, particularly among millennial and Gen Z households. Blinkit, Swiggy and Zepto service deliveries of groceries and a range of non-grocery items in 10-15 minutes. Unlike incumbent players, JioMart will not adopt a dark store model for its quick commerce operations but instead tap into Reliance Retail’s vast network of stores and fulfilment centres.
    As of now, JioMart offers slotted and next-day delivery options to customers. “Over time, JioMart will also deliver non-grocery items through quick commerce,” sources said, adding that this is where it can effectively tap into Reliance Retail’s over-18,000-stores across categories and formats. “JioMart is focused on hyper local omni-channel presence and continues to serve its customers from thousands of stores located in proximity to consumers across the country,” said a source aware of the company’s strategy.
    Reliance’s entry into quick commerce will intensify competition in the space and players will have to contend with the company’s pan-India reach and deep pockets. Currently, Blinkit leads quick commerce with about a 40-45% market share. Goldman Sachs estimates the size of online grocery market in terms of gross order value to be about $11 billion as of FY24 of which, quick commerce already makes up about 50% or $5 billion in GOV. Analysts also say that instant deliveries may well be eating into the share of kirana store purchases.





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  • Zomato Reports Profit Of Rs 2 Cr In Q1, Revenue Grows 71% YoY

    Zomato Reports Profit Of Rs 2 Cr In Q1, Revenue Grows 71% YoY


    New Delhi: Online food delivery platform Zomato on Thursday reported a net profit of Rs 2 crore in the first quarter of the current financial year and revenues of Rs 2,416 crore (year-over-year), up 70.9 percent from the same period last year.

    In the same quarter last year, Zomato posted a net loss of Rs 186 crore and revenues of Rs 1,414 crore. As reported in the filing to the exchanges, the quick commerce (Blinkit) business turned contributory positive for the first time ever in June 2023.

    “We have been working hard to make our business less complex, and putting the right people at the right spots within our businesses. These things do not have definite/measurable impact, and I can in hindsight say that most of our seemingly ‘risky’ bets have changed the trajectory of the business significantly, much faster than we expected,” MD and CEO of Zomato Deepinder Goyal, said in a letter to the company’s shareholders.

    In the reporting quarter, the company’s gross order value (GOV) increased to Rs 7,318 crore from Rs 6,425 crore in the previous quarter. It was also up sequentially from Rs 6,569 crore in the March quarter.

    According to Q1FY24 figures, 1.75 crore transacting customers were registered, compared with 1.67 crore a year earlier.

    “We expect our business to remain profitable going forward and knowing what we know today, we believe we will continue to deliver 40 per cent+ YoY topline (Adjusted Revenue) growth for at least the next couple of years,” CFO Akshant Goyal said.

    Moreover, the cash balance on a consolidated basis as at the end of June 30, 2023, was Rs 11,573 crore as compared to Rs 11,323 crore as of the end of March 31, 2023.





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  • Blinkit Services Hit In Delhi-NCR As Delivery Partners Go On Strike, Over 100 Dark Stores Temporarily Shut

    Blinkit Services Hit In Delhi-NCR As Delivery Partners Go On Strike, Over 100 Dark Stores Temporarily Shut


    NEW DELHI: Instant online delivery services provided by the Zomato-owned quick commerce platform Blinkit is facing major disruption due to a strike by hundreds of its delivery partners demanding changes in their pay structure. According to reports, the ongoing strike by the delivery partners has disrupted its services in the national capital region. Reportedly, customers in Delhi, Gurugram, Faridabad, Ghaziabad, Noida and Greater Noida have been struggling to place their orders online for their grocery delivery for the past 3-4 days.

    Taking to Twitter and other social media platforms, several Blinkit customers shared that they saw a message that read: “Sorry for the inconvenience. Your store is under maintenance” as they tried to place their orders online using the Blinkit app in some areas of the national capital.

    Hundreds Of Dark Stores Closed

     

    It has also been reported that more than half of the 200 dark stores run by Zomato-owned quick commerce platform Blinkit in these areas have been temporarily shut. Reports said that a bigger number of such stores are expected to go offline in the coming days due to the ongoing strike by the delivery partners.

    Delivery Partners Demand Better Pay Structure

     

    Blinkit recently introduced a new pay structure from Monday midnight for delivery partners under which the partners would have to book their time slots and complete the targets assigned to them. The Zomato-owned firm said that the delivery partners would be paid on a per-kilometer basis. The company, however, did not give the breakdown of the new pay structure and said it is working on bringing all the impacted stores live soon. However, the delivery partners rejected the move, saying this would reduce their earnings.

    Justifying their strike, delivery boys said earlier they were paid Rs 50 for delivering a parcel, which was later reduced to Rs 25. Now, the amount has been reduced to Rs 15, they claimed, adding that this is a very small amount compared to 12-hour work. Many delivery partners are of the opinion that the new pay structure would add a financial burden on them.

    Blinkit had sometimes back announced that it will close down delivery in areas that does not have its 10-minute service delivery. The Blinkit delivery services will only be available in customer locations where services can be delivered within 10 minutes, it said.





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  • Man Finds Rat Inside Bread Packet Ordered From Blinkit, Company Reacts

    Man Finds Rat Inside Bread Packet Ordered From Blinkit, Company Reacts



    Today, food apps and grocery delivery apps are blessing in disguise for most of us. These apps helps us get food and everyday essentials at our door steps, that too without any hassle. But, seemingly a person recently had a terrible experience. He received a rat alongside his order. You heard us! Let us tell you the story from the beginning. A person, named Nitin Arora, recently placed an order on Blinkit for a packet of bread. In no time, he received his order; but with that, came a rodent. According to him, the rat was moving inside the bread packet. Sounds disgusting, right?

    Nitin Arora instantly took to Twitter to share a post, featuring the rodent (in the bread packet) and lodged a complaint, tagging the instant grocery delivery app Blinkit. In the videos and photos, one can actually notice the animal moving inside the packet. As per the post, the incident took place on February 1, 2023.

    “Most unpleasant experience with @letsblinkit , where alive rat was delivered inside the bread packet ordered on 1.2.23. This is alarming for all of us. If 10 minutes delivery has such baggage, @blinkitcares I would rather wait for a few hours than take such items.#blinkit #zomato,” Nitin Arora posted. Alongside, he also shared a screenshot of his chat with the Blinkit customer care executive. Check out the post below:

    Also Read: Zomato, Blinkit Give A Hilarious Twist To Famous Bollywood Dialogue In New Ad

    The post in no time grabbed attention on the internet, with people reacting to it strongly.

    “Same issue with me. I received the rotten goods from Blinkit and not getting any support from Customer service. Then I decided to visit the store, from where they dispatch the orders. No wonder if rat was found in a packet the store was totally messed and full of insects and garbage,” read a comment.

    Another person wrote, “They don’t have time to clean the pack of chips before delivery! Zepto is better now a days. At least, I never faced any issues with them.”

    A third person wrote, “Blinkit, now-a-days, is becoming useless. Sometimes they deliver stale vegetables, sometimes damaged items, and when they replace the veggies, they are typically same type! And the delivery boys mark items delivered even before they have arrived.”

    The post grabbed Blinkit’s attention as well. The company instantly apologised for the incident and said that the “concern is genuine”. They further took to the comments section to write, “Hi Nitin, this is not the experience we wanted you to have”, and asked for his contact details and order number for further enquiry.

    Dhananjay Shashidharan, the head of Customer Delight at Blinkit, further replied that they took serious note of the incident and de-listed the partner store. “I want to assure you, we’ve taken swift action already and de-listed the partner store, even as we are investigating the matter with the store owner,” he wrote, adding, “We have high standards for hygiene at all our stores, and with this incident, we have increased the frequency of audits at the store networks.”

    What are your thoughts on the incident. Do share it with us in the comments section below.

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