Blinkit, the quick commerce arm of Eternal, is set to shift from a marketplace model to an inventory-led model starting September 1. This transition means Blinkit will directly purchase and own inventory, rather than merely listing and storing seller products. The company has already informed its sellers via email, asking them to opt into the new system by July 30. From August 31, inventories of compliant sellers will move to Blinkit’s books. For those not transitioning, inventory will be returned after deducting reverse logistics charges.
Blinkit’s Inventory Pivot Aligns with Eternal’s IOCC Strategy and Growth Goals
Currently, Blinkit operates under a marketplace model where sellers list and store products in Blinkit’s warehouses. In some cases, it facilitates bulk buying by selected sellers and brands. However, with the new model, Blinkit will take full control of procurement and listings. This change aligns with Eternal’s larger strategic move towards becoming an Indian-owned-and-controlled company (IOCC). In May, Eternal capped foreign shareholding at 49.5% and announced that the IOCC status enables it to own inventory in quick commerce.
CFO Akshant Goyal had earlier noted that if Blinkit fully owned inventory in FY25, the company would allocate less than ₹1,000 Cr in working capital—roughly 5% of its FY25 net order value (NOV) of ₹22,000 Cr. Eternal believes the IOCC tag provides operational flexibility and opens up new opportunities in quick commerce, especially in underserved categories like home décor, gourmet foods, toys, pooja items, and seasonal products. The inventory model is also expected to boost margins in fragmented or unbranded categories as well as mainstream FMCG products.
Blinkit Gains Market Share and Narrows Losses Amid Strategic Shift
Blinkit’s strategic pivot comes amid rising market traction. According to ICICI Securities, Blinkit increased its market share in Q1 FY26 as it scaled back aggressive expansion. The company’s gross order value rose over 25% quarter-on-quarter, outperforming the sub-20% growth of the quick commerce sector. In comparison, Swiggy’s Instamart recorded a 22% growth. Blinkit’s adjusted EBITDA loss is expected to improve to ₹150 Cr in Q1 FY26, compared to ₹178 Cr in Q4 FY25, signalling progress toward profitability.
Summary:
Blinkit will shift to an inventory-led model from September 1, aligning with Eternal’s IOCC strategy to boost control and margins. The move enables direct product ownership, targeting growth in underserved categories. Blinkit also gained market share in Q1 FY26, with improved order value and reduced EBITDA loss, signalling rising profitability.
