That has now been raised to $40 billion.
The catchment, which was not so long ago estimated at about 25-30 million households spending nearly ₹4,000-5,000 a month, has now been expanded to about twice that number with the spend doubling. Even tier-2 cities now can get the service, albeit for a smaller assortment.
Getting everything delivered at one's doorstep at lightning speed is so compelling that even e-commerce leaders like Flipkart, which took their time foraying into the space, have now done so. Apprehensive that q-comm players like Zepto and Blinkit will eat into their shares, fashion platforms like Myntra and Nykaa have also joined the fray.
There's pressure now on the entire ecosystem to shorten delivery timelines, not just for food but for other products too. Should Amazon India, which is reportedly looking to launch a q-comm service, Amazon Tez, resort to heavy discounting and promotions, it would prompt others to follow. But, given how venture capital continues to back q-comm, the competitive intensity is expected to stay elevated. Zepto, for instance, was able to get $1.3 billion from investors in no time at all.
This story is from the December 26, 2024 edition of Financial Express Pune.
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This story is from the December 26, 2024 edition of Financial Express Pune.
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emissary he had deployed. Although sceptical, I bounded off to North Block and was ushered in. It was my first official meeting with the FM. I conveyed the request, not a direction, of the prime minister. Dr Singh was puzzled — I could see that on his face — by the message or, perhaps, the messenger. He listened politely and told me that the second step had already been taken within minutes of the markets opening at 10 am.
