Swiggy to pour in $700 million in quick commerce service Instamart
By MYBRANDBOOK
Swiggy has announced that it will pour in $700 million (about Rs 5,250 crore) in its express grocery delivery service Instamart.
Last year the Swiggy Instamart was launched in Gurgaon and Bangalore. It is now available in 18 cities and handles over one million orders per week.
In the last few months, Swiggy Instamart has onboarded more than one seller-run dark store every day, a statement said.
A dark store is a large retail facility that resembles a conventional supermarket or other store but is not open to the public, housing goods used to fulfil orders placed online.
The statement further added that by January 2022, it will make deliveries in 15 minutes by having the network of dark stores very close to the majority of its customers.
While traditional e-commerce deliveries take a day or longer, quick commerce (or q-commerce) enables customers to get small quantities of goods to customers in a shorter period of time.
The competitors of Instamart are quick commerce (q-commerce) services providers like Zomato-backed Grofers and Dunzo. Last month, Ola had also started piloting a quick delivery service for items such as groceries in Bangalore.
In November, Grofers had said its dark store network was at over 200 stores, and that it is adding new stores at an aggressive pace. The company is looking at making these deliveries in under 10 minutes.
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