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Tag: Quick Commerce

  • BigBasket Success Story: How It Became India’s Leading Online Grocery Platform

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.

    Online grocery shopping is fast gaining popularity among Indians. According to a Redseer report, India’s online grocery retail market is all set to touch $10.5 billion by 2023. A company that holds a huge share of this fast-growing market is BigBasket.

    Founded in 2011 by the dot-com bubble survivors V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari, Supermarket Grocery Supplies Pvt. Ltd., trading as BigBasket, became a household name soon after it came into existence.

    Headquartered in Bengaluru, BigBasket is currently known as one of India’s largest online grocers and offers an impressive selection of products from over 1,000 brands, delighting over 6 million satisfied customers.

    In May 2021, Tata Group became the BigBasket’s owner by acquiring a majority stake of 64% in the company. Tata Sons has acquired a majority stake in BigBasket, putting the Indian conglomerate in a direct race with e-commerce players Amazon, Walmart, Flipkart, and Reliance Industries. The stake was bought by Tata Digital Limited, a unit of Tata Sons.

    In this article, you can find detailed information about BigBasket, including the company’s founders, history and journey, business model, revenue, funding, acquisitions, and more.

    BigBasket Company Details

    Startup Name BigBasket
    Headquarter Bengaluru, Karnataka, India
    Industry E-commerce, Grocery, Grocery Delivery
    Founders V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, Abhinay Choudhari
    Founded 2011
    Valuation $3.2 billion
    Parent Company Tata Group
    Website bigbasket.com

    About BigBasket
    BigBasket – Founders and Team
    BigBasket – Startup Story | How BigBasket Started?
    BigBasket – Name, Tagline, and Logo
    BigBasket – Business and Revenue Model
    BigBasket – Startup Challenges
    BigBasket – Funding and Investors
    BigBasket – Acquisitions
    BigBasket – Growth and Revenue
    BigBasket – Partnerships
    BigBasket – Awards and Recognitions
    BigBasket – Competitors
    BigBasket – Future Plans

    The Rise of BigBasket

    Big Basket Company Details
    The Rise and Journey of BigBasket

    About BigBasket

    BigBasket is into delivering everyday cooking essentials like ghee (clarified butter), diced coconut, fragrant basmati rice, and more, amounting to a total of over 40,000 items, along with other household products ranging from bread to laundry detergents for the customers to shop from. The company gets all of them delivered to their doorsteps. The target motive of the company is to enable the ease of grocery shopping online to avoid traffic and the drudgery of supermarket visits.

    To explore new opportunities, the company has also launched 3 new businesses – bb Daily, bb Instant, and bbnow.

    bb Daily is a subscription-based service that allows customers to order milk and fresh groceries. With this platform, the customers have to place the order before 10 PM, and they eventually get the goods delivered between 5 AM – 7 AM the next day.

    bb Instant is BigBasket’s unmanned vending machine that is mostly available in corporate offices, tech parks, and apartment buildings in Tier I cities.

    bbnow, the rapid grocery delivery service by BigBasket, allows you to order daily essentials like fruits, vegetables, cooking necessities, and household items and have them delivered to your doorstep within just 15-30 minutes.

    BigBasket has also launched Fresho stores, which is currently serving as the first offline retail store of BigBasket that has already been opened at Basaveshwar Nagar in Bangalore. These BigBasket stores are technology-driven, self-service stores for customers.

    BigBasket – Founders and Team

    BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari in 2011. Prior to BigBasket, the founders also founded Fabmart.com, an online platform that sold books, toys, and groceries in the year 1999. Fabmart was sold to a grocery chain in 2006.

    Big Basket Founders
    Big Basket Founders

    V.S. Sudhakar

    BigBasket Co-founder V S Sudhakar was the CEO of Planetasia. He has vast experience working in the IT sector.

    Hari Menon

    BigBasket CEO Hari Menon comes with vast experience in diverse fields. Prior to Big Basket, Menon was the CEO of Indiaskills, the Vocational Education joint venture of Manipal Group with City & Guilds, UK. An alumnus of BITS Pilani, Hari Menon also worked as the Country Head at Planetasia, one of India’s first Internet services businesses. Hari also held top positions with IT majors like Wipro Infotech.

    V.S. Ramesh

    V.S. Ramesh is the Head of Logistics & Supply Chain at BigBasket. An Electronics Engineering graduate from Karnataka University, V.S. Ramesh has over 21 years of experience in the Indian Navy handling Operations and Logistics. Ramesh is an Electronics Engineer, who earlier co-founded Fabmall.

    Vipul Parekh

    Vipul Parekh is the Head of Finance & Marketing at BigBasket. Vipul is an alumnus of IIM Bangalore and worked with a range of companies holding key leadership positions including Wipro Limited and Trinethra Super Retail Ltd. He also worked with Peepul Capital Advisors Pvt Ltd., a leading Private Equity Fund as an Investment Director. Parekh also co-founded Fabmall before co-founding BigBasket.

    Abhinay Choudhari

    Abhinay Choudhari was the Head of New Initiatives at BigBasket along with being a Co-founder. Abhinay is an IIM Ahmedabad alumnus. Besides working with leading IT companies like iGATE & Infosys, Abhinay also founded Stylecountry.com, one of India’s first online fashion retail stores. Stylecountry.com had to be closed down as it did not turn out to be profitable.

    Abhinay Choudhari has taken a silent exit from BigBasket on August 5, 2021. Soon after Tata acquired BigBasket in May 2021, Abhinay decided not to continue working in the same firm, which he finally managed to do in August. As a parting note to his employees, Choudhari has mentioned that he left BigBasket only to build another company from scratch due to “the start-up itch” that has been growing in him for nine years. Choudhari hinted to “solve another equally painful chore for many Indian households” in the form of a new business that he will found. Next, he will be looking forward to an online laundry business, as per reports.

    TN Hari, who served as the Chief Human Resources Officer (CHRO) at BigBasket for 7 long years, has let people know that he has decided to do something different via his Linkedin handle. TN Hari, in his career with BB, which has now found a new, safe home with the Tata Group acquisition, has already spent 20 years in the Indian startup ecosystem. During these years, he boasts of wearing many different hats as an Angel Investor, Advisor to other VC Firms, Mentor at Startup Accelerators, Sounding Board to Founders, Author, and Columnist. Hari has also revealed that he has been a part of 5 startups to date, 3 out of which have already turned into unicorns. TN Hari has also been identified by Linkedin as one of the top voices of India for 3 consecutive years. Establishing the Artha School of Entrepreneurship is the new goal of this top executive of BB. The mission of Artha would be to accelerate the “journeys of the entrepreneurs in scaling their ventures and contributing to economic and social prosperity of their communities.”

    RainCan, which was originally a daily essential subscription-based startup, later acquired by Big Basket in 2018, was eventually rebranded as BBDaily.

    BigBasket currently boasts of being a 5000+ strong company.

    BigBasket – Startup Story | How BigBasket Started?

    All of this began when the BigBasket founders decided to exploit the experience they got after the massive failure of the dot com bubble. Hence, they decided to create a unique website that was never done before. All the founders of Big Basket had garnered relevant experiences in eCommerce when they created Fabmart.com.

    Fabmart.com was an online platform that sold books, toys, and groceries in the year 1999. Back then, only within a few months, they realized that not just our country but the whole world was not ready to take this buzz of digitization. In the year 2006, Fabmart was merged with a brick-and-mortar grocery chain and the founders ended up selling their startup for a lump sum amount.

    Then came the golden year of 2011, when the team reunited and started re-evaluating the idea of again coming up with something new and exciting. Despite all the criticism they had received back in 1999, they stood very strong on the fact that the time to do something that’d put them on the map was then. In 2011, the smartphone market was booming and anything and everything was available except groceries, of course, and that right then was their Eureka moment.

    BigBasket used to fulfill its orders by purchasing products from Metro Cash and Carry stores, prior to setting up its first warehouse.

    “We had people in the Metro stores, literally operating that as our warehouse” says Hari Menon, Co-founder & CEO of BigBasket.

    BigBasket Logo
    BigBasket Logo

    Supermarket Grocery Supplies Pvt. Ltd., trades as “BigBasket,” the name of which is drawn from the idea of shopping baskets, which the company extends to their customers online.

    The recent tagline of the brand reflects “Har Din Sasta.”

    BigBasket – Business and Revenue Model

    BigBasket’s private label business is driven by lower prices and higher margins. Roughly 35% of the revenue comes from private labels. The aim here is to fill the gap in distinct categories like organic food, and high-end consumer products, to name a few. Also, the company offers a lower price point for staples and fruits and vegetables. They also provide idli/dosa batter on their online platform, which is very rare and does not have a lot of competition.

    Moreover, on the B2B side, BigBasket serves its private label to about a thousand Kirana stores, huge corporates, and HoReCa (hotels, restaurants, cafes). Regarding Big Basket’s Business Model, Big Basket follows both the ‘inventory model’ and ‘the hyper-local model’.

    Under the inventory model, the company buys products from leading suppliers like P&G, HUL, mills, farmers, etc., stores the products in warehouses, and supplies the same to the customers on order. In the case of perishable goods, BigBasket further has tie-ups with local farmers and suppliers from whom it procures the goods as per orders and supplies the same to the customers.

    Under the ‘hyper-local model’, BigBasket has a tie-up with 2000+ grocery stores across India to deliver products within one hour from the neighborhood.

    With the opening of its physical store, Fresho, BigBasket is also a step ahead in the physical grocery space, which is soon expected to be a revenue generator for the company.

    BigBasket – Startup Challenges

    One of the main challenges of any startup in India is getting the customers to try the service first since the resistance level is really high. This is followed by retaining these consumers despite all the other factors in the market like competitors, local vendors, and buying habits, which were there for BigBasket too.

    Also, since it was one of a kind startup dealing with groceries, which was never the case before, it took a while for the consumers to place trust in a brand like BigBasket and start using its services.

    Data Breach Issues

    Online grocery store BigBasket faced a massive data breach in November 2020 as the company had allegedly leaked the data of over 2 crore users on the dark web. BigBasket, funded by Jack Ma-owned Alibaba Group, Mirae Asset-Naver Asia Growth Fund, and CDC group has filed a complaint in this regard with Cyber Crime Cell in Bengaluru.

    According to media reports, Cyble, a cyber intelligence firm, informed that the grocery e-commerce platform BigBasket leaked data including names, email IDs, password hashes, contact numbers, addresses, etc, on the dark web. Also, Cyble informed that a hacker had put the data on sale for over Rs 30 lakh.

    Reacting to this, BigBasket said: “A few days ago, we learned about a potential data breach at Bigbasket and are evaluating the extent of the breach and authenticity of the claim in consultation with cybersecurity experts and finding immediate ways to contain it. We have also lodged a complaint with the Cyber Crime Cell in Bengaluru and intend to pursue this vigorously to bring the culprits to book.”

    Bengaluru-based BigBasket also ensured that the confidentiality and security of customers are their priority and it does not store any financial data (including credit card numbers) etc and is positive that this financial data is secure.

    “The only customer data that we maintain are email IDs, phone numbers, order details, and addresses so these are the details that could potentially have been accessed. We have a robust information security framework that employs best-in-class resources and technologies to manage our information. We will continue to proactively engage with best-in-class information security experts to strengthen this further,” the statement by BigBasket read.

    Cyble also claimed that the breach may have occurred on October 30, 2020, and it has already informed Bigbasket about it.

    Watasale – India’s First Cashier-free Grocery Store launched in Kerala
    Imagine a store where you can just enter, get your groceries and other items,
    pack your stuff and walk out of the store without having to wait in a queue for
    payment. India’s first cashier-less store – Watasale opened up by a Kochi-based
    startup Nayasale Retail Pvt Ltd in Kochi, Kerala in 2018. You …
    StartupTalkyShubham Kumar

    BigBasket – Funding and Investors

    BigBasket has raised a total of $1.5 billion in funding over 20 rounds. The latest funding for the company was raised on December 21, 2022, when BigBasket raised $200 million from its majority stakeholder, Tata Digital. This funding round raised BigBasker’s valuation to $3.2 billion.

    Here are the details of the latest funding raised by Big Basket:

    Date Stage Amount Investors
    December 21, 2022 Venture Round $200 million Tata Digital
    June 2, 2022 Venture Round $45 million Supermarket Grocery Supplies
    April 13, 2022 Venture Round $121 million Supermarket Grocery Supplies
    April 15, 2020 Debt Financing $51.8 million Alibaba Group
    April 9, 2020 Venture Round $60 million Alibaba Group
    July 2019 Debt Financing $14 million Trifecta Capital
    May 2019 Series F $150 million Mirae Asset-Naver Asia Growth Fund
    January 2019 Venture Round – Growth Story
    February 2018 Series E $300 million Alibaba Group
    October 25, 2017 Venture Round $4.3 million Helion Ventures Partners
    October 10, 2017 Debt Financing $838.1K Trifecta Capital Advisors
    October 1, 2017 Venture Round $5 million Bessemer Venture Partners
    September 2017 Series E $280 million Alibaba Group, Paytm Mall
    March 2017 Debt Financing $6.9 million Trifecta Capital Advisors
    March 2016 Series D $150 million Abraaj Group
    August 2015 Series C $50 million Bessemer Venture Partners
    September 2014 Series B $33 million Helion Venture Partners
    April 2014 Bridge Round $3 million Singapore-based private investor
    March 2012 Series A $10 million Ascent Capital

    BigBasket – Acquisitions

    Big Basket has made 6 acquisitions to date. Their most recent acquisition was of Agrima Infotech, which the company acquired on February 19, 2022. The Tata-owned online grocery delivery platform has acquired the enterprise business segment of the Kerala-based deep tech company. This deal would allow the company to implement the unique computer vision technology platform, Psyight, at the self-checkout counters of the retail stores of BigBasket. Psyight behaves as a food recognition platform that is powered by the all-new computer vision technology to differentiate raw, cooked, and packaged food items, which will help its parent ahead.

    DailyNinja was last acquired startup by BigBasket and the deal was materialized on Mar 24, 2020.

    In June 2015, the company acquired ‘Delyver‘, an online platform that connects offline retailers with customers in a neighborhood. In October 2018, Big Basket acquired ‘Raincan‘ a subscription-based service provider for morning and breakfast essentials, headquartered in Pune. In October 2018, Big Basket also acquired ‘KWIK24‘ a company that manufactures and designs smart vending machines. On October 19, 2018, Big Basket announced the acquisition of the Bangalore-based startup ‘Morning Cart‘. Morning Cart is a daily essential ordering platform.

    Here are the details of the Acquisitions by BigBasket:

    Acquired Date
    Agrima Infotech February 19, 2022
    DailyNinja March 24, 2020
    Morning Cart October 19, 2018
    KWIK24 October 19, 2018
    Raincan October 18, 2018
    Delyver June 12, 2015

    BigBasket – Growth and Revenue

    Tata Digital’s acquisition of controlling stakes in BigBasket in May 2021 has played a pivotal role in fueling the company’s growth trajectory.

    BBNow

    BBNow marks a significant game plan for BigBasket’s growth strategy. Officially launched in Bengaluru, this quick-commerce service enables lightning-fast grocery deliveries to customers within 15–30 minutes, catering to the urgent needs of its existing customer base. With BBNow, BigBasket aims to further solidify its position in the e-grocery market and tap into the increasing demand for rapid and convenient grocery delivery services. The introduction of BBNow allows the company to compete more effectively with other quick-commerce players like Swiggy Instamart and Zepto, presenting exciting growth opportunities for BigBasket in the fast-paced and competitive market landscape.

    Fresho

    BigBasket launched its first physical store, “Fresho” in Bangalore, in the last week of October 2021, as confirmed via an internal company email. The mentioned store has been open to the customers of Bangalore’s Basaveshwar Nagar since October 25, 2021, according to BigBasket co-founder VS Sudhakar, who informed the same to all the employees of the company. While writing about Fresho in his email, Sudhakar described the opening of the store, which is currently operational from 8 in the morning to 9 in the night, as an “extremely key, strategic initiative.”

    BigBasket User Acquisition

    BigBasket’s mobile app is currently accessed by over 6 million customers across the country, being operational in 26+ cities in India.

    An interesting strategy that BigBasket follows to attract customers is that the company keeps into account the varied needs and different shopping habits of its customers belonging to different cities. The amount of attention the founders paid to little details put them in a competitively better position.

    The team did their planning city-wise. They increased the number of leafy greens in Mumbai, supplied a special kind of rice (called Sona Masoori) in Bangalore, and went as far as providing eight different kinds of eggplants to picky customers. All in all, the company ensured its quality was nothing short of perfection.

    Timely delivery is the essence of online shopping hence the team put a focused approach to this. They devised a model of customized software that automatically guides drivers to their destinations and helps the company achieve a near-perfect on-time rate. Late deliveries earn customers a 10% discount. Missing items are refunded at a cost that is 50% of whatever the item cost is.

    BigBasket Financials

    Bigbasket Financials FY23 FY24
    Operating Revenue INR 9468.5 crore INR 10061.9 crore
    Total Expenses INR 11284.7 crore INR 11515 crore
    Profit/Loss INR -1785 crore INR -1415 crore
    BigBasket Financials FY24
    BigBasket Financials FY24

    BigBasket’s operating revenue increased by about 6.3% from FY23 to FY24, growing from INR 9,468.5 crore to INR 10,061.9 crore. Total expenses rose by around 2%, from INR 11,284.7 crore in FY23 to INR 11,515 crore in FY24. The company’s losses decreased by roughly 20.7%, from INR 1,785 crore in FY23 to INR 1,415 crore in FY24.

    Bigbasket FY23 FY24
    EBITDA Margin -14.02% -9.39%
    Expense/₹ of Op Revenue Rs 1.19 Rs 1.14
    ROCE -51.37% -70.62%

    BigBasket’s B2C arm reported revenue from operations of INR 7,434 crore in FY23, reflecting a modest 4.8% growth compared to FY22 when the company’s revenue stood at Rs 7,095 crore.

    In FY23, BigBasket’s B2C arm witnessed an 89% surge in losses, reaching Rs 1,535 crore, compared to Rs 813 crore in FY22.

    Total expenses for the B2C arm increased by around 13% from Rs 7,929 crore in FY22 to Rs 8,998 crore in FY23. This rise in expenses was primarily attributed to higher employee benefit expenses, finance costs, and other miscellaneous expenses. Specifically, Innovative Retail spent Rs 916 crore on employee benefits in FY23, representing a 24% increase compared to Rs 739 crore spent in FY22.

    BigBasket – Partnerships

    Some of the BigBasket partnerships include:

    • Bigbasket partnered with Uber on April 3, 2020, where Uber’s driver-partners sought an association with the former to help the company deliver everyday essentials to its customers and others during the pandemic onslaught. Bengaluru, Hyderabad, Chandigarh, and Noida were the first four cities to witness the same.
    • BigBasket partnered with Rajasthan Royals on September 16, 2020, who was declared as the official partner of the IPL team for the 2020 edition of the Indian Premier League.
    • BigBasket also became a partner with the New Zealand Trade and Enterprise on October 19, 2021, to deliver food products and groceries in India.

    BigBasket – Awards and Recognitions

    Among the major awards and recognitions that BigBasket won are:

    • BigBasket is recognized as one of the ‘Top 50 India’s Best Companies To Work For – 2023’ by Great Place to Work® India.
    • BigBasket ranked in the ‘Top 3 Best Places to Work’ in E-commerce and ‘India’s Best Workplaces in Retail’ for the third consecutive year in 2023.
    • It was declared the ‘Retail and eCommerce App of the Year’ at YourStory’s AWS Mobility Awards in 2017.
    • Owler has conferred upon BigBasket CEO Hari Menon the Top Rated CEO Award in 2017.
    • The company was placed 2nd at the Global E-Commerce Award ceremony hosted by Ecommerce Europe in Barcelona.
    • BigBasket Co-founder Abhinay Choudhari was awarded the IIMA Alumni Young Achievers’ Award.

    BigBasket – Competitors

    Despite growing at an increasing rate, BigBasket faces cut-throat competition in the market. Some of the major competitors of BigBasket are:

    Though these players are acquiring strong market standing with time, the company tends to stand fit and fine and win the market with its large and ever-increasing consumer base. BigBasket is now doubly strong under the management of Tata.

    BigBasket – Future Plans

    As per reports, BigBasket plans to raise $80-100 million in debt and equity to drive business ambitions.

    BigBasket has strong plans of retaining its post as the largest grocery delivery platform in India. So, the plan is to set up warehouses in all 26 operating cities of India to bring down the delivery time to 3 hours.

    Big Basket has launched Fresho stores, and opened the first of their kind in Bengaluru, thereby entering the offline retail market. According to BigBasket’s co-founder and CEO Hari Menon, the goal is to achieve Rs 12,000 crore in sales by 2026 through 800 Fresho stores spread across 10 tier-1 cities.

    As part of its future plans, Tata-owned BigBasket is considering launching an initial public offering (IPO) by 2025.

    FAQs

    What is BigBasket?

    BigBasket is an Indian online grocery delivery service founded in 2011 and headquartered in Bangalore, offering a wide range of products delivered to customers’ doorsteps.

    Who is BigBasket’s owner?

    BigBasket is owned by the Tata Group.

    Who are BigBasket’s founders?

    BigBasket was founded by V.S. Sudhakar, Hari Menon, V.S. Ramesh, Vipul Parekh, and Abhinay Choudhari.

    What is bigbasket bbnow?

    bbnow, the rapid grocery delivery service by BigBasket, allows you to order daily essentials like fruits, vegetables, cooking necessities, and household items and have them delivered to your doorstep within just 15–30 minutes.

    What is Bigbasket Wallet?

    The Bigbasket Wallet is a pre-paid credit account that is associated with your Bigbasket account. This prepaid account allows you to pay a lump sum amount once to Bigbasket and then shop multiple times without having to pay each time.

  • How to Start a Momos Business in India

    Have you ever bitten into a delicious momo and thought, “I wish I could sell these”? Well, great news! Starting a momos business in India is not only feasible but also potentially very profitable. Momos, which are a type of dumpling originally from Tibet and Nepal, have become incredibly popular in India. This blog will guide you through the steps needed to kickstart your own momos business, from understanding the market to setting up your shop.

    Understanding the Market

    Types of Momos

    Momos, a popular dumpling dish originating from Tibet and Nepal, has evolved into a versatile culinary delight with numerous varieties to cater to diverse tastes. 

    Traditional momos are usually steamed and filled with minced meat, such as chicken, pork, or beef, often mixed with finely chopped vegetables and aromatic spices. 

    Vegetarian versions, filled with cabbage, carrots, onions, and mushrooms, are equally beloved. Innovative variants include fried or pan-fried momos, which offer a crispy alternative to the soft, steamed original. 

    Additionally, fusion momos have emerged, featuring unique fillings like cheese and spinach, paneer, or even chocolate or coconut & Jaggery for a sweet twist. The accompanying dipping sauces, ranging from spicy tomato chutneys to tangy sesame dips, further enhance the momos’ appeal, making them a versatile and cherished dish across different cultures.

    Momos are enjoyed by people of all ages and backgrounds. They are versatile, offering both vegetarian and non-vegetarian options, which makes them a hit among diverse groups. Given their widespread popularity, it’s no surprise that many entrepreneurs are looking to capitalize on this trend.

    Market Size of Quick Service Restaurants in India in 2024, With an Estimate for 2029
    Market Size of Quick Service Restaurants in India in 2024, With an Estimate for 2029

    Market Research

    Before diving in, it’s crucial to conduct thorough market research. Look at existing momos businesses in your area. What types of momos are they selling? What are their price points? Are there any gaps in the market that you could fill? Understanding your competition will help you position your business more effectively.

    Planning Your Business

    Business Plan

    A solid business plan is the backbone of any successful venture. Your plan should include:

    • Mission Statement: What do you aim to achieve with your momos business?
    • Market Analysis: Who are your target customers?
    • Menu: What types of momos will you offer?
    • Pricing Strategy: How will you price your momos competitively?
    • Marketing Strategy: How will you attract customers?
    • Financial Projections: What are your expected costs and revenues?

    Location, Location, Location

    Choosing the right location can make or break your business. Ideally, your shop should be situated in a busy area with high foot traffic, such as near schools, colleges, offices, or marketplaces. Accessibility and visibility are key factors to consider.

    Setting Up Your Momos Business

    Before you start selling momos, you’ll need to obtain several licenses and permits:

    1. FSSAI License: This ensures that your food is safe for consumption.
    2. GST Registration: Required for tax purposes.
    3. Local Municipal Health License: Ensures your business complies with local health regulations.
    4. Shop and Establishment License: Required if you’re setting up a physical store.

    Initial Investment

    Your initial investment will depend on various factors such as the size of your shop, equipment, and initial stock. Here’s a rough estimate:

    • Rent and Deposit: INR 50,000 to INR 1,00,000
    • Equipment: INR 20,000 to INR 50,000 (steamer, utensils, etc.)
    • Raw Materials: INR 10,000 to INR 20,000
    • Licenses and Permits: INR 5,000 to INR 10,000
    • Marketing: INR 10,000 to INR 20,000

    Sourcing Ingredients

    High-quality ingredients are essential for making delicious momos. Establish relationships with reliable suppliers for flour, vegetables, meat, and spices. Consider sourcing organic ingredients to attract health-conscious customers.

    Business Model of Wow! Momo: How Does Wow! Momo Makes Money?
    Wow! Momo is an Indian chain of fast food restaurants founded by Sagar Daryani and Binod Homagai. Here’s a look at how it makes money.
    StartupTalkyDev Gupta

    Creating a Mouth-Watering Menu

    Types of Momos

    Variety is the spice of life, and offering a diverse menu can attract more customers. Here are some popular types of momos to consider:

    • Vegetarian Momos: Stuffed with veggies like cabbage, carrots, and paneer.
    • Chicken Momos: A favorite among non-vegetarians.
    • Pork Momos: Another non-veg option that’s gaining popularity.
    • Cheese Momos: A unique twist that can attract cheese lovers.
    • Chocolate Momos: Perfect for dessert lovers!

    Pricing

    Your pricing strategy should balance affordability with profitability. Research the prices of momos in your area and set competitive rates. Offering combo deals or meal packages can also attract more customers.

    Marketing Your Momos Business

    Online Presence

    In today’s digital age, having an online presence is crucial. Create a website and social media profiles for your business. Post mouth-watering pictures of your momos, engage with your audience, and run promotions to attract customers.

    Offline Marketing

    Don’t neglect traditional marketing methods. Distribute flyers, put up banners, and consider collaborating with local events to get the word out. Word-of-mouth is also powerful, so ensure every customer leaves satisfied.

    Delivery Partnerships

    Partnering with food delivery services like Zomato and Swiggy can significantly boost your sales. Many people prefer ordering food online, and being available on these platforms can increase your reach.

    Managing Your Business

    Hiring Staff

    As your business grows, you’ll need to hire staff to help with cooking, serving, and managing orders. Look for individuals with experience in the food industry and provide adequate training to ensure consistent quality.

    Customer Feedback

    Listening to your customers is vital for continuous improvement. Encourage feedback and be open to making changes based on it. Happy customers are more likely to return and recommend your business to others.

    Financial Management

    Keep track of your expenses and revenues meticulously. Use accounting software to manage your finances and regularly review your financial statements to ensure your business is on the right track.

    Conclusion

    Starting a momos business in India can be rewarding if done correctly. Each step is crucial for your success, from understanding the market to setting up shop and marketing your delicious momos. With dedication, hard work, and a love for momos, you can build a thriving business that satisfies the taste buds of many happy customers.

    FAQs

    Is momo business profitable in India?

    The momo business offers high-profit margins, making it a highly lucrative opportunity.

    How big is momos market in India?

    India’s momo market is now valued at approximately $3 billion annually, with over 90% dominated by unorganized street-side vendors. However, the organized sector is expanding rapidly.

    Which licenses are necessary to open a momos business in India?

    FSSAI License, GST Registration, Local Municipal Health License, and Shop and Establishment License are necessary licenses to open a momos business in India.

  • Aiming for a 2025 Launch, Amazon Is Preparing for a Quick Commerce Entry in India

    The media has reported that Amazon aims to launch its fast commerce service in India in the first quarter of 2025. The US-based eCommerce giant is refocusing its strategy to compete with rival Flipkart, which has just joined the fast-growing category with its ‘Minutes’ service.

    Amazon India has designated a senior executive to spearhead the creation of its speedy commerce strategy in keeping with this approach. This move is part of a larger effort to reorganize its leadership to better compete in the rapidly expanding Indian market.

    Exploring the Possibility of Acquiring a Stake in Swiggy

    Reportedly, Amazon is looking into buying stakes in Swiggy, specifically its Instamart quick service platform.

    According to a media report, a precise schedule has been established, but the foundation for the rapid commerce vertical has been ongoing for some time.  Amazon has been pushing the project forward internally.

    Since Amazon has not yet introduced a global quick commerce service, the launch of this new service will be subject to permission from Amazon’s headquarters. The situation is further complicated because Manish Tiwary, Amazon’s chief of India, is presently serving his notice term and is scheduled to depart the company in October.

    30-Minute Delivery Is Amazon’s Goal for Speedy Commerce

    After getting a head start in the grocery delivery market with its Pantry service, Amazon has been perfecting its strategy by combining its fresh two-hour service with next-day delivery. The fulfillment of these deliveries is handled by More Retail stores, a joint venture with Samara Capital, and customers also have the option of store pick-ups.

    The 30-minute delivery trend is changing, even though Amazon’s next-day customer base for groceries and non-grocery items is still rather large.

    Even if the final product is still in the works, a media report hinted that Amazon might keep slotted deliveries as a tactic, targeting certain SKUs.

    Over the course of 2024, the rapid commerce sector experienced substantial changes, and even more changes are on the way. The Mumbai-based firm Zepto is quickly growing its dark store networks and SKUs. In less than two months, the company will finish a $1 billion fundraising round.

    Indian Ecommerce’s New Battlefield

    According to sources within the business, eCommerce platforms will increase their rapid commerce offerings to encompass 20,000+ products this Diwali, leading to fiercer competition.

    New Delhi and Mumbai are the latest cities to get Flipkart’s Minutes service, which was first launched in Bengaluru earlier this month. At the same time, BigBasket is ditching its present hybrid model of scheduled and quick deliveries in favor of a quick-delivery-only strategy.

    1Lattice and Datum Intelligence predict that the value of India’s eCommerce business increased by 18-20% in the first half of this year, with grocery sales increasing by more than 38% due to a dramatic rise in fast commerce.

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    India’s leading digital commerce entity Flipkart is working to venture into the fast-paced world of quick commerce to meet the burgeoning demand for rapid delivery of everyday essentials.
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  • For $244 Million, Zomato Purchased Out Paytm’s Entertainment Ticketing Division

    Zomato, a platform for foodtech and rapid commerce, is going to buy out Paytm’s movie and ticketing division. The deal has been in the works between the two businesses for three months now. Following Blinkit in June 2022, this is the first significant acquisition for the Gurugram-based startup.

    An announcement was made to the Bombay Stock Exchange (BSE) stating that Zomato has agreed to purchase Paytm’s entertainment ticketing business for INR 2,048 crore (about $244 million) in cash.

    Details of the Deal

    Zomato will receive full ownership of Orbgen Technologies (TicketNew) and Wasteland Entertainment (Insider), two subsidiaries of Paytm’s parent company One97 Communications, according to the terms of the agreement.

    Along with the two subsidiaries, 280 current employees from TicketNew and Insider will also be a part of the agreement. Paytm, which is headed by Vijay Shekhar Sharma, purchased Insider in May 2017 and TicketNew in 2018 for a total of $40 million.

    In FY24, the company reportedly made INR 297 crore in sales and INR 29 crore in adjusted EBITDA.

    During the transition time of up to 12 months, the entertainment ticketing business—which includes movie, sports, and live event ticketing—will continue to function on the Paytm app. Assuming all agreements are met, the transaction is anticipated to finalise this quarter.

    Why Zomato So Keen About This Acquisition?

    As per market experts, the last quarterly results showed a fall in gross order value, which is bad news for stock market investors because it indicates that the Zomato’s primary food sector is slowing down, even though the reduction was small. Although some may see the decline as a temporary setback, others worry that the meal delivery sector is reaching its peak as it expands into more and more locations.

    Therefore, many analysts and broking companies expect Blinkit, Zomato’s quick-commerce branch, to surpass Zomato’s primary meal delivery operation, and industry observers’ attention has recently shifted to Blinkit.

    They should be able to satisfy investors’ appetite for growth with Zomato’s main food company making profits and Blinkit offering growth, right? Yeah, but that’s only for today.

    It is unclear if Blinkit will be able to sustain Zomato’s growth in the future, even though it is currently driving it. This is because it is unclear if quick-commerce will gain traction in tier-2 and tier-3 cities after they have penetrating metro cities to their full potential.

    So, for Zomato to continue its growth trajectory in the future, it needs a fourth engine, in addition to its online food ordering, Hyperpure by Zomato, and Blinkit industries. One possible candidate for the fourth engine is Zomato’s “Going-out” vertical, which includes eating and live events. This makes this deal a perfect combination for Zomato, considering its future growth.

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  • A Look at the Growing Trend of Platform Fees in Delivery Apps

    At the beginning of the new year, the two most prominent participants in the food delivery industry raised the platform fees by INR 1, which is equivalent to a 33 percent increase from INR 3 to INR 4. According to the predictions made by the media, the prices of consumer services would increase. This prediction was pretty much spot on thanks to Zomato and Swiggy, and it started on New Year’s Eve, which is the busiest day of the year for both of these companies.

    Platform fees are not restricted to food delivery apps; Myntra, the top fashion eCommerce platform in India, is presently charging a platform fee of ₹20 for each order that is placed on its app. These fees are a component of the methods that the corporations employ to enhance their profitability and maintain their business models. The implementation of such fees, on the other hand, might vary, and some businesses may experiment with greater prices in the future or alter them based on the demand for specific services.

    The Current Structure of Platform Fees
    Zepto Joins the Bandwagon
    Aiming for Financial Gain

    The Current Structure of Platform Fees

    The most dedicated Zomato and Swiggy customers had to make some choices at the start of the new year. Should they decide to reduce their reliance on these platforms or keep paying ever-increasing platform fees to stay on top of them?

    Starting on January 1, Zomato raised the platform fee from INR 3 to INR 4 per order in select areas. Unverified rumors circulated that on New Year’s Eve, Zomato briefly increased their platform fees to as much as INR 9 per order in several countries.

    The price increases were justified by Zomato as “business calls” made after considering several variables. Coincidentally, Zomato’s order volume shot up to higher than the volume over the last six years combined, and the platform fees surged the day after New Year’s Eve.

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    Zepto Joins the Bandwagon

    The innovative approach and unwavering commitment to satisfying customers’ demands have contributed to Zepto’s steady rise to prominence, positioning it as the third-largest rival in the fast commerce space. Zepto is challenging industry heavyweights such as Swiggy Instamart and Blinkit, which is owned by Zomato, with a reputation for itself and a market share of over 20%. During its rise to prominence, Zepto has been known for its thoughtful approach to implementing platform fees, as well as its focus on user experience and operational performance.

    In an attempt to boost income and operational efficiency, Zepto has decided to implement platform fees for a small number of users, which is different from the fee-free grocery order strategy of competitors Blinkit and Swiggy Instamart. Zepto’s plan, which starts at Rs 2 per order, follows the same model as established industries like eCommerce and restaurant delivery. Zepto emphasizes in its strategy introduction its commitment to sustainable growth and profitability over the long term and its willingness to try new things to stay ahead of the competition.

    Size of the Online Food Delivery Market Across India From 2020 to 2023, With Estimates Until 2026
    Size of the Online Food Delivery Market Across India From 2020 to 2023, With Estimates Until 2026

    Aiming for Financial Gain

    In addition to Zomato and Swiggy, other popular food delivery services like Uber, BigBasket, Myntra, and Dunzo impose extra charges (convenience charges, handling fees, and more) on top of the real delivery prices, which are typically discounted. Ola Prime Plus and Namma Yatri’s subscription plans for driver-partners are examples of new models that have emerged as a result of the revenue drive.

    The fashion eCommerce behemoth Myntra, which is owned by Flipkart, started charging a fee for returns, which is one of its main selling points. The goal here is to correct unit economics.

    According to Prosus, Swiggy’s principal investor, the company’s loss increased to $545 million in 2022 from $300 million the previous year, while Swiggy has not yet disclosed its financial results for FY23.

    Platform fees are opening the way for the company to show a clear path to profitability in the next few months, which is necessary for its 2024 IPO. Platforms like Swiggy and Zomato will compensate to some degree by charging customers directly, even if discounts will still be around.

    How much these fees are, how open they are, and how much value they give to everyone involved in the delivery process will determine if they are ethical.

    The openness of these fees is also very important. Any fees and their purpose should be made plain to both customers and eateries. In an ethical system, food delivery fees would be reasonable, helping to sustain the industry while not unfairly harming any one participant.

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  • Flipkart’s Quick Commerce Revolution: Reshaping India’s Online Retail Landscape

    India’s leading digital commerce entity Flipkart is working to venture into the fast-paced world of quick commerce to meet the burgeoning demand for rapid delivery of everyday essentials.

    Flipkart has recently unveiled its latest initiative of same-day delivery service now available in 20 major Indian cities. 

    This strategic move underscores Flipkart’s unwavering dedication to elevating customer satisfaction, and convenience and to revolutionize the eCommerce landscape.

    “We are committed to meeting evolving customer expectations and delivering excellence in value, selection, and speed, with more initiatives expected on this front in the coming months,” Walmart-backed Flipkart said in a statement. 

    This new initiative of same-day delivery will be for customers across cities including Ahmedabad, Bangalore, Bhubaneshwar, Coimbatore, Chennai, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Ludhiana, Lucknow, Mumbai, Nagpur, Pune, Patna, Raipur, Siliguri and Vijayawada.

    It would cover products like mobiles, essential items, electronics, home appliances, fashion, books, and lifestyle goods. The customers will get their products delivered before midnight if they place their orders by 1 pm without any extra charge.

    Flipkart Likely To Launch Quick Commerce Services

    Key Players

    Future Prospects

    Key Players

    Flipkart’s introduction of same-day delivery service represents a significant advancement in the Indian eCommerce market.

    “We have invested in cutting-edge technologies, leveraged data analytics, and harnessed insights on demand patterns to ensure that we are well-equipped to anticipate and fulfill demand the very same day. I must acknowledge the hard work and dedication of our teams who have tirelessly contributed to making this vision a reality,” said Hemant Badri, Senior Vice President, Head of Supply Chain, Customer Experience & ReCommerce Business, Flipkart Group.

    In the past year, quick commerce has surged into a billion-dollar industry with platforms like Blinkit, Zepto, and Swiggy Instamart poised to exceed USD 1 billion in revenue in the financial year 2023-24.

    The surge in quick commerce has captured Flipkart’s interest, prompting the eCommerce giant to enhance its emphasis on the grocery sector. 

    As quick commerce constitutes approximately 40% of online grocery delivery, it is increasingly fueling growth. Flipkart’s renewed focus on grocery aligns with a broader transition away from conventional eCommerce models centered on sales and discounts.

    As of now, these apps are providing quick commerce to consumers in major Indian cities:

    Blinkit Swiggy Instamart Zepto
    Started operations in January 2022 August 2020 April 2021
    Revenue as of FY 2023 (in Rs crore) 724 3221 2024
    Revenue as of FY 2022 (in Rs crore) 236 2036 142
    Funds raised for quick commerce (in U.S.$ million)
    US$ 1 mn = Rs 8.2 cr    		 569 700 361
    Current market share (in %) 40% 37-39% 20%

    It’s essential to acknowledge how its rivals have also expanded into quick commerce to meet evolving customer demands.

    Here’s how some of Flipkart’s competitors have ventured into quick commerce:

    Amazon India

    Amazon has been a key player in the Indian eCommerce sector, and it has also delved into quick commerce to enhance its delivery capabilities. The company offers Amazon Prime Now, which provides ultra-fast delivery of essentials, groceries, electronics, and more within a few hours. 

    Reliance Retail

    Reliance Retail, through its digital arm JioMart, has been rapidly expanding its presence in the e-commerce space. Leveraging Reliance’s extensive network of physical stores and warehouses, JioMart offers quick delivery of groceries, household essentials, and other daily items. 

    BigBasket

    As a leading online grocery platform in India, BigBasket has capitalized on the growing demand for quick delivery of essential items. The company offers express delivery services for groceries and household essentials, ensuring that customers receive their orders within a few hours. BigBasket has the quick commerce feature BB Now too to get groceries delivered in 15-30 minutes.

    Blinkit

    Grofers now Blinkit has rebranded itself to reflect its commitment to rapid delivery. With its extensive network of local partners and warehouses, Blinkit ensures that customers receive orders within a few minutes, making grocery shopping seamless. 

    Blinkit has begun selling home appliances, puja essentials, Eid special offerings like prayer mats, thobe kurte, ‘sehri’ and ‘iftar’ needs, ‘Holi’ needs, sweets, colors, thandai, bakery items, meats, seafood, cosmetics, mobiles and accessories, electronics, baby care products and much more. 

    Swiggy and Zomato

    While primarily known for their food delivery services, Swiggy and Zomato have also entered the quick commerce space by offering delivery of groceries, medicines, and other essential items. 

    Zepto

    Zepto is also the name of a quick commerce platform that enables businesses to offer fast delivery services for groceries, bakery products, kitchen essentials, paan corner (betel leaf), tobacco, health and hygiene, toiletries, clothing, and other essentials. Zepto provides tools and infrastructure to facilitate within minutes delivery of goods to customers’ doorsteps.

    Dunzo

    Dunzo has become synonymous with hyperlocal delivery, with its Daily service taking it a step further by guaranteeing delivery within 19 minutes. From groceries to medicines to food from nearby localities to letters to clothes from the nearest boutique, Dunzo Daily fulfills all your daily needs with lightning speed.

    While Flipkart maintains a strong foothold in the market, achieving revenue growth poses a continual challenge. With the emergence of competitors such as Zepto and Blinkit, there is a critical need for Flipkart to establish itself within the quick commerce sector. 

    As per media reports, Flipkart is also weighing options to expand into quick commerce with the introduction of dark stores. Dark stores are like mini warehouses designed for online orders.

    Flipkart is also planning to buy Dunzo Daily. Despite having raised approximately USD 500 million in funding, Dunzo has struggled to secure additional investment and meet its staff payroll. 

    The hyperlocal delivery company has lost ground to newer competitors like Zepto, Swiggy, and Zomato’s Blinkit, leading to a drop in its market position.

    Flipkart, valued at over USD 32 billion, is considering buying Dunzo, known for its local delivery skills. This move could be smart, but talks might take a while because Dunzo has ties to Reliance Retail, its main investor owning a 26% share. 

    Flipkart wants to be careful about what it buys, especially considering Dunzo’s connections, according to an article published by Business Insights Now on February 23.

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    Future Prospects

    The prospects of quick commerce, including Flipkart’s role, are exceptionally promising, driven by evolving consumer preferences, technological advancements, and market dynamics. 

    Flipkart, along with other quick commerce platforms, will capitalize on increasing smartphone penetration, internet connectivity, and digital payment systems to broaden its reach across diverse demographics and geographic regions.

    By 2028, it is anticipated that the number of users in the quick commerce market in India will reach 56.4 million users. The user penetration rate, which currently stands at 1.8% in 2024, is projected to rise to 3.8% by 2028.

    Meanwhile, the quick commerce market in India is anticipated to reach a revenue of USD 3.3 billion in 2024, with a projected compound annual growth rate (CAGR 2024-2028) of 27.42%. This growth trajectory is expected to propel the market volume to USD 8.8 billion by 2028.

    Revenue of Quick Commerce Market in India
    Revenue of Quick Commerce Market in India

    Conclusion

    In summary, Flipkart’s expansion of its same-day delivery service epitomizes its dedication to setting new benchmarks of excellence in the eCommerce arena. 

    With a focus on speed, convenience, and customer satisfaction, Flipkart reaffirms its position as a trailblazer in India’s digital commerce revolution.

    As the quick commerce market continues to evolve and expand, Flipkart’s strategic initiatives and dedication to customer satisfaction will shape its trajectory in the years to come. 

    The future holds endless possibilities, and Flipkart stands ready to embrace the opportunities that lie ahead, driving forward the evolution of online retail.

    “Many believe Amazon and Walmart-owned Flipkart will continue to dominate the future of Indian eCommerce. In my humble opinion, I would not bet against the hometown teams at Zepto and Zomato,” said a LinkedIn post by Paul Hudson, Founder and CIO, of Glade Brook Capital.

    Glade Brook Capital, which supported Zepto in Mumbai last year, also invested in Zomato’s parent company, Blinkit, back in 2019.

    FAQs

    In how many cities will Flipkart provide the same-day delivery service?

    Flipkart will provide same-day delivery service in 20 major Indian cities including Ahmedabad, Bangalore, Bhubaneshwar, Coimbatore, Chennai, Delhi, Guwahati, Hyderabad, Indore, Jaipur, Kolkata, Ludhiana, Lucknow, Mumbai, Nagpur, Pune, Patna, Raipur, Siliguri and Vijayawada.

    What will be the revenue of the quick commerce market in India in 2024?

    The quick commerce market in India is anticipated to reach a revenue of USD 3.3 billion in 2024, with a projected compound annual growth rate (CAGR 2024-2028) of 27.42%. This growth trajectory is expected to propel the market volume to USD 8.8 billion by 2028.

    Who are the competitors of Flipkart in the field of quick commerce?

    The competitors of Flipkart in quick commerce include Dunzo, Amazon India, Reliance Retail, BigBasket, Blinkit, Zepto, Zomato, and Swiggy.

  • Retail Revolution: Instant Apps Transforming Indian Cities, Flipkart Plans Foray

    In Indian metro cities, the retail sector is changing fast with instant apps. Instant grocery delivery apps—Blinkit, Zepto, Swiggy Instamart, BBNow, and Dunzo Daily are leading this shift, making everyday shopping a breeze.

    They are not just names; they represent the vanguard of quick commerce. These instant delivery apps are reshaping how consumers shop for everyday necessities. 

    Here’s a closer look at how these platforms are revolutionizing retail and what the future holds for this burgeoning industry.

    Consumer-centric Convenience
    Industry Disruption
    Fun Facts
    Key Players

    Flipkart Plans Foray
    Future Market Estimations
    More Power to Consumers
    Hurdles and Competition
    Solutions and Innovation
    Making Life Easy for Users
    Transforming Shopping for Seniors and Mobility-Challenge

    Consumer-centric Convenience

    In today’s fast-paced world, consumers demand convenience at their fingertips, and instant apps deliver precisely that. 

    With a few taps on their smartphones, shoppers can browse through an array of products, from groceries to household essentials, and have them delivered to their doorstep within a few minutes. 

    This consumer-centric approach has propelled instant apps to the forefront of the retail landscape, leaving traditional brick-and-mortar stores scrambling to keep up.

    Industry Disruption

    The impact of instant apps on the retail industry cannot be overstated. These platforms have disrupted conventional retail models, prompting retailers to rethink their strategies or risk becoming obsolete. 

    Thanks to fast delivery and a wide range of products, consumers are rushing to instant apps, fueling a major shift towards e-commerce and quick commerce.

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    Fun Facts

    • Blinkit delivered 10,000 single roses by 10 am on Valentine’s Day this year.
    • Zepto sold more than 200,000 roses during Valentine’s week.
    • Blinkit delivered 20K+ chocolates in less than 10 minutes as they peaked at 406 chocolates per minute.
    • Zepto saw a 4x jump in sales on Chocolate Day.
    • In 2023, during the India and Australia World Cup finals, Swiggy Instamart experienced a surge, with the app registering a peak of nine jersey orders per minute.
    • On New Year’s Eve, Zomato achieved a groundbreaking number of orders on its app, nearly matching the total orders from the same day across the previous six years, from 2015 to 2020. “8,422 orders were placed at 8:06 pm – that’s 140 orders every second,” Deepinder Goyal said in a post on X, formerly Twitter.
    • Over Rs 97 lakh in tips were given to delivery partners on December 31, with more than 3,20,000 delivery partners serving customers across Zomato and its quick commerce business, Blinkit.
    • On New Year’s Eve, Swiggy processed over 480,000 biryani orders, equivalent to 1,244 dish units ordered every minute.
    • On New Year’s Eve 2023, Indians placed a record-breaking 6.5 million online food delivery orders, marking an 18% increase compared to the previous year.

    Record-High In Orders For Swiggy, Zepto, & Blinkit; Insights From CEO Aadit Palicha & Rohit Kapoor

    Key Players

    As of now, these apps are providing quick commerce to consumers in major Indian cities:

    Blinkit Swiggy Instamart Zepto
    Started operations in January 2022 August 2020 April 2021
    Revenue as of FY 2023 (in Rs crore) 724 3221 2024
    Revenue as of FY 2022 (in Rs crore) 236 2036 142
    Funds raised for quick commerce (in U.S.$ million)
    US$ 1 mn = Rs 8.2 cr    		 569 700 361
    Current market share (in %) 40% 37-39% 20%

    Blinkit

    Formerly known as Grofers, Blinkit has rebranded itself to reflect its commitment to rapid delivery. With its extensive network of local partners and warehouses, Blinkit ensures that customers receive their orders within a matter of minutes, making grocery shopping a seamless experience. The company has begun selling home appliances, chargers, headphones, smartwatches, lighting solutions, batteries, electronic accessories, and more.

    Zepto

    Zepto has carved a niche for itself in the instant delivery space, offering a wide range of products, including groceries, electronics, fruits, vegetables, and personal care items. Leveraging advanced logistics technology, Zepto guarantees swift delivery, catering to the on-the-go lifestyle of metro dwellers.

    Swiggy Instamart

    Building upon the success of its food delivery platform, Swiggy has ventured into quick commerce with Instamart. Partnering with neighborhood stores, Swiggy Instamart promises delivery in under 30 minutes, ensuring that customers never run out of essentials.

    BBNow

    BigBasket, a household name in online grocery shopping, has launched BBNow to tap into the burgeoning demand for instant delivery. It guarantees delivery within 15-30 minutes, and in the event of a delay, offers a 5% cashback, subject to certain terms and conditions such as extreme traffic, peak hours, and unforeseen circumstances.

    Dunzo Daily

    Dunzo has become synonymous with hyperlocal delivery, and its Daily service takes this a step further by guaranteeing delivery within 19 minutes. From groceries to medicines to letters to clothes from tailors, Dunzo Daily fulfills all your daily needs with lightning speed.

    Amazon Fresh

    Amazon’s grocery delivery app, Amazon Fresh is not into 10-minute delivery but it takes grocery orders via the Amazon Fresh website or mobile app. The company aims to deliver goods at home within 2-4 hours of placing order.

    Flipkart Plans Foray

    In the fast-paced world of eCommerce, eCommerce giant Flipkart is gearing up to compete with established players like Swiggy’s Instamart, Zomato’s Blinkit, and Zepto.

    As per industry insights, Flipkart is also building its infrastructure to expand into quick commerce with the introduction of dark stores. 

    Dark stores are essentially mini warehouses designed for online order fulfillment. They operate discreetly, away from regular consumers, and boast enhanced inventory storage capacity and streamlined operations.

    Flipkart’s decision to venture into quick commerce stems from market dynamics. The firm is aiming for rapid deliveries within 10-15 minutes in major cities like Bengaluru, Delhi (NCR), and Hyderabad, as per reports. 

    “At Flipkart, customer-centricity is at the core of everything we do. We constantly work towards delivering a wide range of products to customers with speed. Over the past few months, we have made several investments to enhance our delivery capabilities, including adding same-day delivery in 20 cities. This covers mobiles, essential items, electronics, home appliances, fashion, books and lifestyle products. We are committed to meeting evolving customer expectations and delivering excellence in value, selection and speed, with more initiatives expected on this front in the coming months,” said Flipkart’s spokesperson on a query whether Flipkart is planning to enter the quick commerce business. 

    Recent statistics indicate a notable loss in Flipkart’s grocery sales to Blinkit and Instamart, attributed to their lightning-fast delivery services, often within 15 to 20 minutes. This reflects a broader consumer preference for convenience and speedy services, prompting Flipkart to adapt its strategy accordingly.

    “The market is already moving this direction, with Zomato and Zepto expanding their product assortments, Amazon offering same day delivery in select Indian cities and Walmart-owned Flipkart recently announcing a similar move,” said Glade Brook Capital Founder and CIO Paul Hudson on March 6, 2024 in his LinkedIn post.

    Glade Brook Capital is a US-based venture capital firm, which has invested in Zepto and Zomato.

    By leveraging the efficiency of dark stores, Flipkart aims to regain market share and cater to evolving consumer preferences. The move signifies a strategic pivot aimed at aligning with market demands and providing swift, seamless delivery experiences to customers.

    The Order Flow

    Future Market Estimations

    The future for instant apps in Indian metro cities shines brightly. 

    According to Inc42 data, the quick commerce sector in India experienced a rapid surge in popularity between 2021 and 2023, raising USD 4.2 billion in funding.

    According to industry projections, the quick commerce segment in India is expected to witness exponential growth, with estimates suggesting a market size of USD 5 billion by 2025. 

    This growth trajectory is fueled by the increasing penetration of smartphones, rising internet connectivity, and changing consumer preferences. 

    As technology progresses, these platforms will evolve into even more efficient and user-friendly solutions, providing personalized recommendations and seamless shopping experiences. 

    “Together with Swiggy Instamart (where Glade Brook is not an investor), Zepto and Zomato-owned Blinkit have led the growth of this sector, from start-up to millions of users and tens of thousands of crores (billions of US dollars) in revenue in less than 3 years,” Hudson said in his insightful article on professional networking site LinkedIn.

    Advancements in logistics, Artificial Intelligence, and machine learning will play pivotal roles in streamlining operations, leading to quicker delivery times and heightened customer satisfaction.

    “India’s quick commerce market is experiencing rapid growth due to increasing smartphone penetration and a young tech-savvy population. By 2028, it is anticipated that the number of users in the Quick Commerce market in India will reach 56.4 million users. The user penetration rate, which currently stands at 1.8% in 2024, is projected to rise to 3.8% by 2028,” as per the findings of data gathering online platform Statista.

    Furthermore, the proliferation of smart devices, more and more innovation in the retail sector, refinement in apps, and the impending rollout of 5G technology will catalyze the expansion of instant apps’ reach. 

    With faster and more reliable internet connectivity, these platforms will extend their services to even the country’s most remote corners, democratizing access to essential goods.

    As urbanization continues unabated and the demand for convenience escalates, the potential for instant apps to capture a significant market share is immense.

    More Power to Consumers

    The availability of goods through instant apps can be a game-changer for the retail sector. It not only changes how one shops but also gives power to consumers. 

    With instant apps, people can easily find what they need, no matter where they are. 

    This means big changes in how customers buy things. In Indian metro cities, the future of instant apps looks promising. They’ll keep getting better and reaching more people. 

    As they improve with new technology, nationwide shopping will become quicker, simpler, and more tailored to each person’s needs and thoughts.

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    Hurdles and Competition

    Despite their rapid growth, instant apps face several challenges and stiff competition in the market. 

    One of the primary hurdles is ensuring seamless logistics and efficient last-mile delivery. 

    The reliance on a network of delivery partners and the management of inventory in real-time pose significant operational challenges. 

    Additionally, competition among instant apps is intense, with players vying for market share through aggressive marketing strategies and innovative offerings.

    Solutions and Innovation

    To overcome these hurdles, instant apps are leveraging technology and innovation to streamline operations and enhance the user experience. 

    Advanced logistics algorithms optimize delivery routes, minimizing delivery times and maximizing efficiency. 

    Real-time inventory management systems ensure that products are readily available, reducing the likelihood of stockouts. Moreover, partnerships with local vendors and neighborhood stores expand the product assortment, catering to diverse consumer preferences.

    Making Life Easy for Users

    Instant apps have transformed the lives of users in myriad ways, offering unparalleled convenience and flexibility. 

    Busy professionals can now skip the hassle of visiting retail shops, grocery shopping, and household errands, they can just rely on instant apps to fulfill their daily needs within minutes. 

    Based on the region, the Southern part of India captured the major market share in the India Quick Commerce market. The Q-commerce companies are expanding their presence in metro & Tier 1 cities such as Hyderabad, Bangalore, Pune, Mumbai, Chennai, etc., in the Southern region.

    Moreover, the major factors attributing its demand in these prime cities are the presence of the working population, large internet penetration as well as high awareness regarding the usage of technology.

    “The individuals living in these cities are more tech-oriented & are more likely to refer to an online platform to purchase their day-to-day groceries due to their busy lifestyles, aging populations, and the prevalence of work from home. Hence, this leads to a lower preference to visit stores,” said a report ‘India Quick Commerce Market Research Report: Forecast (2023-2028)’ by MarkNTel Advisors.

    Parents juggling work and family responsibilities find solace in the ability to order essentials at the touch of a button, saving precious time and energy. 

    Moreover, the seamless integration of payment gateways and user-friendly interfaces ensures a hassle-free shopping experience, further enhancing user satisfaction. These instant delivery apps are attractive as they provide coupon codes, discount offers, and cashback for using varied payment gateway options.

    Transforming Shopping for Seniors and Mobility-Challenge

    Instant apps are incredibly useful for senior citizens and people with disabilities who face challenges in visiting stores and standing in long queues. They can browse through a wide range of products and make purchases with just a few taps on their smartphones or tablets.

    These apps are designed with accessibility features that cater to individuals with different disabilities. This includes features such as voice commands, screen readers, and adjustable font sizes, making it easier for them to navigate the app and complete transactions independently.

    For individuals with mobility issues or chronic pain, visiting stores and standing in queues can be physically exhausting and uncomfortable. Instant apps alleviate this strain by allowing them to shop from home, avoiding the need to navigate crowded aisles or wait in long lines.

    Instant apps often offer personalized recommendations based on past purchases and preferences. This tailored shopping experience can be beneficial for senior citizens and people with disabilities, ensuring that they find items that meet their specific needs and preferences without the hassle of browsing through crowded shelves.

    Conclusion

    The rise of instant apps in Indian metro cities marks a paradigm shift in the retail industry. 

    Blinkit, Zepto, Swiggy Instamart, BBNow, and Dunzo Daily are at the forefront of this revolution, offering consumers unparalleled convenience and efficiency. As these platforms continue to innovate and evolve, they will redefine the way we shop, setting new standards for convenience, speed, and customer satisfaction. 

    The future of retail is here and now.

    FAQs

    What is Quick Commerce?

    Quick Commerce, also referred to as Q-commerce, is a type of eCommerce where the emphasis is on quick deliveries, typically in less than an hour. 

    What are the best Quick Commerce companies in India?

    Swiggy, Dunzo Now, Blinkit, Big Basket, and Zepto are the major companies operating in the Indian Q-Commerce Market.

    What is the projected user expansion in the Quick Commerce sector within the Indian market in the future?

    By 2028, it is anticipated that the number of users in the Quick Commerce market in India will reach 56.4 million users.

  • Navigating the Future: AI’s Impact on Quick Commerce and Emerging Tech Trends

    This article has been contributed by Akshat Saxena, Chief Executive Officer and Co-Founder, Froker.

    The commerce industry has always been at the forefront of adopting technological innovations to enhance customer experiences and operational efficiency. This ongoing evolution is reshaping the landscape of commerce through quick commerce, which is gradually revolutionizing shopping experiences. The Indian quick commerce sector presently boasts a market value of $700 million. It is on the cusp of substantial expansion, fueled by key technological trends. The integration of artificial intelligence (AI) and the emergence of social commerce are pivotal to this growth. They are not just changing the way businesses operate but also how a young, tech-savvy population interacts with the digital marketplace.

    Quick commerce is making the user experience more seamless, personalized, and altered as per the online world. This evolution, driven by increased smartphone penetration and AI’s transformative potential, is paving the way for a future where quick commerce is not just about quick transactions but about creating immersive, intuitive, and engaging consumer journeys. The government’s role in fostering such innovation is crucial, as it can provide the necessary support and framework for these technologies to thrive, ensuring a sustainable and efficient ecosystem for startups.

    Let’s look at some of the tech-driven trends that are transforming the quick commerce landscape.

    Social Commerce Is the New Frontier in Customer Engagement
    Personalization of Searches Through Generative AI
    AI Assistants to Enhance Customer Support and Interaction
    AI Content Moderation and Predictive Analytics
    Tech-Enabled Supply Chain Optimization
    The Emergence of Virtual Stores and AR Experiences

    Social Commerce Is the New Frontier in Customer Engagement

    Social commerce, the amalgamation of e-commerce with social media platforms, is revolutionizing the way consumers discover and purchase products. This trend is not just about selling through social media. It is about creating an entire shopping experience that is seamless, engaging, and personalized. Social commerce taps into the user’s social network, preferences, and online behaviour to offer a curated shopping experience that’s both intuitive and enjoyable.

    Personalization of Searches Through Generative AI

    Generative AI search is redefining how customers find products and services online. Unlike traditional search algorithms that rely on keyword matching, generative AI can easily understand and interpret user queries in a more human-like manner. This new-age technology can generate product recommendations and search results that are highly personalized as per the user’s past behaviour, preferences, and even current trends. The result is a more intuitive search experience that helps users discover products that they are more likely to purchase.

    AI Assistants to Enhance Customer Support and Interaction

    AI assistants, or AI buddies, are becoming integral to the commerce industry. These AI-powered tools can handle a range of tasks, from answering customer queries to providing personalized shopping advice. Unlike traditional chatbots, these AI assistants are capable of learning and evolving based on customer interactions, making them more efficient and effective over time. They can handle a high volume of queries simultaneously, ensuring that customer support is swift and efficient.

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    AI Content Moderation and Predictive Analytics

    AI-enabled content moderation is crucial in social commerce, where user-generated content plays a significant role. AI can quickly analyse vast amounts of data, flagging and removing inappropriate or harmful content, thus maintaining the integrity and safety of the platform. This technology is not only for protecting users but also for preserving the brand’s reputation. 

    At the same time, AI is being used by startups for predictive analytics, which is used to forecast trends, consumer behaviour, and potential market shifts with remarkable accuracy. This foresight allows for more targeted and effective marketing strategies, ensuring that companies are always a step ahead. Going ahead, the use of AI for protected user experiences and targeted marketing efforts will gain stronger ground in the world of commerce. 

    Tech-Enabled Supply Chain Optimization

    AI and other emerging technologies are rapidly transforming supply chains around the world, including in India. AI systems can analyze huge amounts of data to accurately forecast demand, automatically adjust inventory levels, and optimize delivery routes in real-time. This can contribute significantly to making their supply chains smarter and more efficient. According to a report by PwC, 54% of firms in India are now utilizing AI. With the ongoing technological adoption across industries, the use of tech-enabled supply chains will continue to expand. 

    Moreover, AI has the power to drive greater sustainability and introduce more ethical practices across quick commerce in India. AI-enabled systems can closely monitor production and distribution chains to detect areas for reducing waste, minimizing environmental impact, and addressing labour, safety, or diversity issues in operations. 

    The Emergence of Virtual Stores and AR Experiences

    The online shopping landscape in India is rapidly evolving with the emergence of immersive technologies like augmented reality (AR) and virtual stores. E-commerce players are integrating AR tools to allow customers to visually try on products and even place items in their actual living spaces before buying. This technology not only boosts customer engagement but also helps reduce return rates by providing a clearer idea of the product before purchase. 

    Conclusion

    The Indian quick commerce industry is poised to reach $5 billion in revenue by 2025, driven by the rapid adoption of advanced and futuristic technologies that are revolutionizing supply chain transparency, optimizing inventory, and elevating customer experiences. Here, government initiatives can enable a regulatory environment fostered through supportive digital infrastructure policies, public-private partnerships, and funding for emerging technology research.

    With a tech-empowered consumer base eager for faster deliveries, India can harness innovation responsibly to meet growth targets and establish global AI leadership. By combining commercial interests with ethics and social welfare through government vision and oversight, India can witness resilient tech-enabled advancement in commerce.

    What is Quick Commerce? | Features of Quick Commerce
    Quick commerce creates a better customer experience by helping businesses connect with their customers more quickly than the traditional methods.
    StartupTalkyBharat L. Vora

  • What is Quick Commerce? | Features of Quick Commerce

    The Covid-19 pandemic’s impact on the supply chain resulted in the development of quick commerce, a novel business model where products and services are delivered within 10 to 30 minutes of being ordered.

    Quick commerce is a new way of doing business on the internet that involves taking advantage of the benefits of digital technology in order to create a more efficient, personalized shopping experience for customers. This includes things like offering free shipping on all orders over a particular amount, offering free returns and exchanges, and even allowing customers to pay with a credit card.

    The idea behind quick commerce is that it creates a better customer experience by helping businesses connect with their customers more quickly and effectively than traditional methods. It also helps businesses get through some of the logistical challenges involved with online marketing, such as managing customer data and tracking customer behaviour across multiple channels.

    As per Statista, the food and grocery delivery market is expected to rise to 72.3 billion by 2025.

    What is Quick Commerce?
    Features of Quick Commerce

    The Demand for Quick Commerce
    Advantages of Quick Commerce

    How Dark Stores are Speeding up Grocery Deliveries?

    What is Quick Commerce?

    It is characterized as a distinct business model with tiny order placement and delivery window and is frequently referred to as the next generation of eCommerce. Due to GenZ’s dominance of the digital ecosystem, the delivery cycle has changed from a 1-day delivery window to a 10-to-30-minute period.

    Quick Commerce is an expedited order fulfilment method that handles micro to small orders of food, including groceries, office supplies, prescription drugs, and many other items. The main emphasis is on serving micro, and smaller amounts of light-weighted items, from everyday shopping to pharmaceutical needs.

    Revenue of Last-mile Food and Grocery Market Worldwide in 2020 and 2025
    Revenue of Last-mile Food and Grocery Market Worldwide in 2020 and 2025

    Features of Quick Commerce

    Quick Commerce is a complete commerce solution that comes with many features and benefits. It is designed to provide you with a wide range of features and benefits, including:

    Fast Delivery Speed

    Quick Commerce has an impressive array of features including quick delivery of products and services. The ability to get your products to your customers as soon as possible is the primary objective of adopting this business model.

    Now customers don’t have to wait long for their products, nor should they have to pay extra money for shipping. Quick commerce companies can ship orders instantly because they have the necessary warehouse facilities, including micro-fulfilment centres and the required technology for demand forecasting, inventory allocation, and last-minute courier delivery.

    Micro-Fulfillment Facilities

    The micro-fulfilment facilities or micro-warehouses are a crucial component of quick commerce. Micro-fulfillment is when you send out small amounts of products at a time, instead of large shipments. This enables to keep the costs down and also allows serving customers more quickly and efficiently than ever before.

    Having the orders delivered by micro-fulfilment facilities ensures that all orders are fulfilled at high speed and low cost. It is a new way to move your products quickly and easily. It allows you to fulfil orders in minutes instead of days.

    Convenience

    With quick commerce, you can buy anything with just a click. This business model aims at providing the utmost convenience and a better shopping experience to its customers. The most significant benefit of Q-commerce is its ability to allow customers to shop for any product at any time of the day simply with their smartphones without going anywhere and it will be delivered right to their doorstep.

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    24*7 Delivery

    Customers can have their orders delivered at any time that is convenient for them, thanks to Q-commerce. It does not impose any restrictions on time for customers. The service is available 24*7 and offers seamless transactions in real-time.

    Moreover, customers are guaranteed quality and delivery because these businesses have a good reputation.

    Lower Prices

    The Q-commerce businesses frequently purchase goods in bulk, lowering the average cost of each product and enabling them to provide great deals or discounts. This allows the platforms to satisfy the needs and demands of the customers and gives them a competitive advantage against the other eCommerce competitors.

    Furthermore, it is easy to attract a larger audience when a platform is offering good-quality products and services at lower rates than its competitors. This will increase the total sales of the company and generate more revenue.

    Easy Order Monitoring and Tracking

    Blinkit, Indian Quick Commerce - Order Tracking and Monitoring
    Blinkit, Indian Quick Commerce – Order Tracking and Monitoring 

    Quick commerce also offers order tracking, enabling users to follow their orders. Customers can track all their orders in a single place and make them easily available for customer support or other necessary actions.

    It allows customers to stay informed about their products in case of a delay in delivery. This type of business model also allows to set up automatic re-orders so that if certain products sell out, they will be restocked immediately. Blinkit, one of India’s popular quick commerce platforms, provides quick delivery of various items and also allows you to track and monitor your order.

    One-Stop Shopping

    Instacart, American Quick Commerce - One-stop Shop for Various Products
    Instacart, American Quick Commerce – One-stop Shop for Various Products

    The companies that offer quick commerce services create applications that allow consumers to order products online from a single platform, but also offer them the opportunity to pick up their purchases in person from physical stores. This means that a customer can order many things from one-stop without roaming around in different stores and have them delivered to their home. For example, the American quick commerce platform, Instacart, delivers a range of more than 500 million products across the USA and Canada. It also provides new offers from time to time to attract more customers.

    Pay Special Attention to Items That Are in High Demand

    Quick commerce businesses list the most popular things on their apps rather than maintaining an inventory of all products. These include groceries, stationaries, hygiene products and several other items that clients purchase more regularly, if not daily.

    This tactic lowers the cost of the warehouse and storage while allowing the business to lease smaller warehouses inside the cities rather than developing larger ones on the outskirts. For instance, the Indian q-commerce company, Blinkit focuses on 2,000 high-demand goods in its inventory.

    Delivery Pricing Structure

    Due to the additional expenses associated with the last-mile delivery system that q-commerce businesses must pay, their business models are more expensive than the typical eCommerce firms.

    Due to this, most of these firms only charge a small delivery cost to their clients, which typically fluctuates based on the order’s value and the customer’s location relative to the cloud storage.

    The Demand for Quick Commerce

    Monthly Orders for Groceries from Fast Delivery Apps in India (2022)
    Monthly Orders for Groceries from Fast Delivery Apps in India (2022)

    Due to the increased emphasis that consumers are placing on online purchasing behaviourism, well-stocked massive warehouses have made way for nearby micro-warehouses. Many companies have fully embraced the notion to attain the tremendous product-fit concept to the current internet markets. As a result, the shift from the good conventional model to the quick commerce model significantly impacts how any company defines its value offer.

    Over the past several years, interest has grown in several quick commerce businesses, including those that have a marketplace model and concentrate mainly on groceries, such as GoPuff, Weezy, Glovo, Delivery Hero, and Instacart. These firms specialize in quick Commerce, where clients frequently require or desire things delivered promptly and mean for immediate use.

    Companies like Delivery Hero and Gorillas are significant players in the business. The former recorded 400% year-on-year growth while the latter raised €245 million leading to a $1 billion valuation, making it a unicorn in just nine months of its existence.

    The greatest amount ever funded by a startup in Spain, Glovo, a different q-commerce business, raised $530 million in a Series F round.

    Over the past few years, India has also seen an incredible rise in quick commerce startups like Blinkit (formerly Grofers), Dunzo, Zepto, and BigBasket.

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    Advantages of Quick Commerce

    The q-commerce approach can prove to really beneficial for businesses. The following are some of the benefits of opting for the q-commerce approach:

    • Businesses that use a Q-Commerce strategy are better able to satisfy their consumers. In doing so, companies can create and maintain customer loyalty as customers will remember the brand more if they have a memorable and rewarding shopping experience.
    • Opting for a q-commerce approach in your business will allow you to have an expanded selection of goods. You will be able to sell the goods that you were not able to because of the need for urgency in their distribution.
    • Having a quick commerce approach means local delivery of goods. Since the delivery radius is reduced it leads to lower logistics costs than the traditional shipping methods. In this way, you can use the saved money in other areas of your business.
    • It will help in increasing the conversion rate as quick and quality delivery is something that almost every customer loves.

    Conclusion

    Quick commerce is a quicker approach to commerce that allows for more flexibility in the way digital products and services are created, sold, delivered and consumed.

    Quick commerce is important because it provides a way to create an online presence that is both efficient and effective. With Quick Commerce, you can build your online presence using tools that are better suited to your business as opposed to traditional methods such as setting up an eCommerce store.

    FAQs

    What is quick commerce?

    In simple terms, quick commerce is eCommerce’s faster version. It is similar to traditional eCommerce with the only difference being the time of delivery. Quick commerce delivers goods within a few minutes.

    What is a dark grocery store?

    It refers to a distribution centre or outlet which is only meant for online shopping platforms. These stores are only meant for serving online orders and are not open to the general public.

    What are the benefits of quick commerce?

    Benefits of quick commerce include:

    • Fast Delivery
    • Increased customer satisfaction
    • Expanded range of products
    • Better inventory management
    • Better SKU Management