Walmart-supported According to insiders who spoke with BT, Flipkart is getting ready to introduce its quick commerce vertical, “Flipkart Minutes,” by the second week of July.
With this launch, Flipkart is making its third attempt in the last several years to enter the rapid commerce space; the previous two attempts were less successful.
Flipkart Steps Into Quick commerce: “Flipkart Minutes”
“Flipkart Minutes” aims to produce content within 15 minutes, and a person with knowledge of the situation said that the debut may take place around July 15.
For this launch, the corporation will make use of the supply chain, emphasizing electronics in addition to groceries and other necessities.
‘Flipkart Quick,’ Flipkart’s prior attempt to penetrate this market, failed to gain traction with its 90-minute delivery goal.
An official statement has not been released by Flipkart as of yet.
There have been several rumors since the start of the year regarding Flipkart joining the fast-paced e-commerce market.
Zepto Looking To Fund $300 Million
A dispute over stakes caused a transaction with Zepto to fall through, which heightened the excitement even further. Zepto is apparently looking to fund $300 million at a valuation of $3.5 billion.
The fast commerce business in India has experienced growth after the Covid-19 pandemic. Mordor Intelligence estimates the market to be worth $3.34 billion in 2024 and is projected to grow to $9.95 billion by 2029.
Leading companies in India’s rapid commerce space include Zepto, Blinkit, and Swiggy’s vertical Instamart, which is headed for an IPO. Zepto is supported by Zomato, which also owns Blinkit.
Flipkart just opened the first grocery store in the state of Rajasthan, Jaipur, and is improving its grocery fulfillment centers (FC) for scheduled delivery.
The food center in Jaipur serves Jaipur as well as other places including Bikaner, Jaisalmer, Jodhpur, and Kota, with a dispatch capability of over 6,500 orders each day.
