RIP Grofers..Welcome BlinkIt! 10-Minutes Delivery Promised After Rebranding
The grocery delivery startup Grofers has rebranded itself as Blinkit, indicating that it will deliver products to customers in the blink of an eye. Amid rising competition in the quick delivery space, the grocery delivery platform promises an instant delivery of 10 minutes to its customers.
The move to rebrand itself as Blinkit, comes in line with the platform’s instant delivery service.
Grofers’ Instant Delivery Model
At a time when Grofers is in talks with its existing investor Zomato for raising about $500 million in a fresh round of funding, the food delivery platform has rebranded itself as Blinkit.
According to the company’s founder and chief executive officer Albinder Dhindsa, quick delivery like the one Blinkit offers, of 10 minutes is a necessity in today’s fast-paced life so that people have time for more important things, as per a Moneycontrol report.
The company clocks about 1.25 lakh orders on a daily basis, and over a million orders in a week, spread across 12 cities in the country.
While traditional e-commerce services deliver products to a consumer’s doorstep in two to three days’ time, quick commerce or q-commerce is a new sub-vertical, which allows delivery of small quantities of goods in under an hour.
Moreover, e-comm companies manage to do so by developing a network of local stores, small warehouses to stock inventories, all in close proximity to the consumers’ location.
“We learnt a lot as Grofers, and all our learnings, our team, and our infrastructure is being repurposed to pivot to something with staggering product-market fit – quick commerce. Today, we are surging ahead as a new company, and we have a new mission statement – instant commerce indistinguishable from magic. And we will no longer be doing this as Grofers – we will be doing it as Blinkit”, wrote Dhindsa on a blog post.
The company has raised about $100 million from its investor Zomato earlier this year.
The rebranding happens at a time when most of the rivals are hoarding capital to compete in the cash guzzling sector. Its biggest rivals are Swiggy’s Instamart, BigBasket, Dunzo and upstart Zepto.