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Zepto Hits $1B Sales, Dominates Quick-Commerce

  • Market leadership amid competition, faces competition from Swiggy Instamart and Zomato Blinkit.
  • Attained unicorn status a year ago.
  • Strategic advantage of quick-commerce, proximity to customers and competitive pricing differentiate Zepto.

One of India's startups, the fast-commerce startup Zepto has recorded a staggering achievement, it has just surpassed $1 billion in annual sales according to Goldman Sachs, just 29 months after it was founded.

The business has been facing competition from Swiggy Instamart from SoftBank and Zomato Blinkit, and being the market leader, it is gaining share steadily.

A year ago, Zepto achieved unicorn status and brought investment from the group of YC Continuity, StepStone Group, Glade Brook Capital, and Contrary. The startup delivery companies in India are taking over and starting to compete with the traditional stores alongside even snatching the online markets from the juggernauts like Flipkart and Amazon.

The quick-commerce industry in India which did not even exist around three years ago has done well to cross $5 billion. Now more than half of the online grocery market has a dominant job and a scale similar to major Indian supermarket chain Dmart according to the bank.

“Zepto considers that according to their proximity to customers and selling products at competitive prices while still offering variety and quality, which sets them apart from the other organized formats both off and online, quick-commerce platforms possess a strategic advantage in the industry.” The report stated.

Edited by Shruti Thapa