Backed by Walmart, Flipkart is getting ready to launch a new service called ‘Flipkart Minutes’ around mid-July. The service aims for a 15-minute delivery time. This new venture represents Flipkart’s third attempt to enter the quick commerce market, following two earlier unsuccessful attempts.
According to sources, the launch is expected to happen around July 15. With ‘Flipkart Minutes,’ the company plans to use its established supply chain to quickly deliver various products. This will include not just groceries and essential items but also electronics. The goal is to provide a fast and efficient service to meet customer demands for quicker delivery times.
Flipkart to Launch Flipkart Minutes
Flipkart plans to launch a new service called ‘Flipkart Minutes’ to deliver products in just 15 minutes. This is their third attempt at quick commerce after previous efforts, including ‘Flipkart Quick,’ which offered 90-minute delivery but didn’t succeed as planned.
The company hasn’t officially announced this yet. There has been a lot of talk about Flipkart entering the quick delivery market, especially after a deal with Zepto fell through over stake disagreements.
Flipkart Minutes will join a market led by strong players like Blinkit, Instamart, and Zepto. Blinkit, backed by Zomato, handles about 600,000 orders daily. Swiggy’s Instamart processes around 500,000 orders daily, while Zepto handles about 300,000. These companies have shown strong growth. Blinkit has an annual revenue run rate of INR 12,000 crore. Swiggy Instamart’s annual revenue is between INR 8,000 and 8,500 crore. Zepto’s total merchandise value is close to INR 7,000 crore.
Entering this market, Flipkart Minutes will face stiff competition from these established and rapidly growing companies.
Growth of Quick Commerce in India and Flipkart’s Expansion in Grocery Delivery
Since the COVID-19 outbreak, the quick commerce market in India has experienced significant growth. According to Mordor Intelligence, the market is expected to be worth $3.34 billion by 2024 and could grow to $9.95 billion by 2029. This surge is driven by increased demand for fast delivery services, especially for groceries and essential items. Major players in this sector include Blinkit (backed by Zomato), Zepto, and Swiggy’s Instamart, all of which have established themselves as leaders in quick commerce.
Flipkart is enhancing its quick commerce and grocery delivery services in response to this growing demand. The company recently opened a new grocery store in Jaipur, Rajasthan, the first of its kind in the state. This facility has a dispatch capacity of over 6,500 daily orders and serves Jaipur and surrounding cities, including Bikaner, Jaisalmer, Jodhpur, and Kota. This expansion is part of Flipkart’s broader strategy to strengthen its position in the quick commerce market and improve its supply chain for faster deliveries.
Flipkart’s Big Push into Fast Delivery Services
Flipkart is making big investments to improve its delivery services. This includes same-day delivery in 20 cities and special delivery options for occasions like Valentine’s Day. Now, with ‘Flipkart Minutes,’ the company focuses on the quick commerce market, aiming to meet customer demands for fast and efficient service.
‘Flipkart Minutes’ is a strategic move to capture a significant share of the quick commerce market. Flipkart plans to change its game in India with a better supply chain, a wide range of products, and a focus on ultra-fast delivery. As Flipkart prepares to launch this service, it will be interesting to see how Flipkart Minutes competes with established players like Blinkit, Instamart, and Zepto.
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