Grofers launched its instant commerce service a few months back with the promise of 10-minute delivery
Online grocery delivery platform Grofers on December 13 said it is rebranding itself as ‘Blinkit’ to reflect its pivot to accelerated commerce.
The Zomato and SoftBank-backed company launched its instant commerce service a few months back with the promise of 10-minute delivery.
“A few months back, we embarked on a journey to build the future of commerce with 10 minute delivery of most of the items our customers need in their daily lives… We learned a lot as Grofers, and all our Learning, our team, and our infrastructure are being rebuilt to pivot with staggering product-market fit–accelerated commerce,” Blinkit said in a blogpost.
The blogpost said the company is already processing over one million orders a week across 12 cities in India under the service.
“Today, we are moving forward as a new company, and we have a new mission statement – ‘Quick commerce is no different than magic.’ And we will no longer do this as Grofers – we will do it as Blinkit. I will,” noted the blogpost.
Last month, Grofers said it planned to open 150 Dark stores by December, bringing the total number to 350, with orders placed in about 10 minutes for quick commerce. At the time, Grofers said it had a 3 million monthly order run rate and had registered 3.5x growth over the past two months, while gaining one million Instant Commerce users.
Whereas traditional e-commerce delivery takes a day or more, accelerated commerce (or Q-commerce) enables customers to get smaller quantities of goods to customers in a shorter amount of time.
According to a report by RedSeer, the accelerated commerce sector in India is expected to grow to $5 billion by 2025 from the current $0.3 billion.
According to the report, Quick Commerce is growing in India due to trends such as change in consumer behaviour, entry of big players like BigBasket and Grofers and rise of instant delivery platforms.
Earlier this month, food delivery platform Swiggy announced an investment of $700 million (approximately ₹5,250 crore) in its express grocery delivery service Instamart. Last month, Ola launched an instant delivery service for items like groceries in Bengaluru. Other players in this segment include the likes of Dunzo.
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