Blinkit tops quick commerce with over 50% market share, set to gain more: BofA
Eternal-owned quick commerce platform Blinkit currently has more than 50% market share in the 10-minute delivery space, brokerage firm BofA Securities said in a research note, with rivals Zepto, Swiggy's Instamart, BigBasket, Flipkart Minutes and Amazon Now holding the rest.
In a similar report last September, BofA Securities had estimated Blinkit to have a 40% share, indicating that the Gurugram-based company, which was already the market leader, has picked up more during the past 12 months.
It did not give the latest market share number for the other players.
A November 2024 report by another brokerage firm Motilal Oswal had pegged Blinkit to have 46% share, with Zepto having 29% and Instamart with 24%. However, in the recent months, as ET has reported, Instamart gained some share with Zepto slowing down to control its cash burn.
“Competitive intensity in the quick commerce market has come down in the last 3-4 months. Both Instamart and Zepto are focusing on improving Ebitda and new platforms offer limited differentiation and are not aggressive on the ground. Additionally, we note that user demand remains strong and hence we expect strong NMV/GMV (net merchandise value/gross merchandise value) momentum for Blinkit and Instamart in the near-term,” the latest BofA Securities note said.
It added that even though Blinkit now controls more than half of the quick commerce market, it expects the company to further gain share.
Also Read: “Will grow Blinkit's market share aggressively”: Eternal CFO Akshant Goyal
Source: EconomicTimes
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