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Quick commerce: Swiggy Instamart bumps Zepto out of number 2
Swiggy's Instamart just bumped Zepto out of the number two spot in India's quick commerce race.
For the week of August 4-11, Blinkit stayed on top with a hefty 52% market share (₹845 crore NMV), while Swiggy grabbed 25% (₹405 crore) and Zepto followed close behind at 23% (₹375 crore).
Competition keeps heating up
This is a big comeback for Swiggy after months behind Zepto, who had climbed to second place last November.
While Zepto has been tightening its budget as it looks to raise up to $500 million and eyeing a possible IPO in the future, Swiggy is doubling down on growing Instamart as its losses start to even out.
The competition keeps heating up too, with Flipkart Minutes and Tata's BigBasket jumping into the mix.