Swiggy’s Instamart is among the top three quick-commerce businesses in the country, which promise deliveries of groceries, wellness and beauty products and much more within 10 minutes. Whether these companies will be able to revolutionize the broader retail market in India remains to be seen, but they have already captured 56% of the online grocery delivery market from e-commerce firms, according to JPMorgan.
Quick-commerce firms such as Instamart, Zomato-owned BlinkIt, Zepto, BigBasket, and Minutes are changing consumer behavior in urban Indian cities, home to about 80 million people. Together, they are on track to record sales of more than $6 billion this year, according to TechCrunch estimates.