28 Aug 2024
Its quick commerce arm, BBNow, contributes over 50% to the overall revenue. Starting in the next few weeks, the grocery app will offer only 10-30-minute deliveries.
Tata Digital-owned BigBasket plans to switch to quick commerce in the next few weeks. The company is targeting ₹12,400 crore in overall sales for the current financial year, 60% of which will come from quick commerce.
Tata Digital is targeting an IPO once BigBasket becomes profitable, which depends on BBNow. Its quick commerce vertical was launched in December 2021. Between the financial years 2022 and 2023, the grocery app witnessed an 11% rise in revenue as its losses skyrocketed by 71%.
Zomato-owned Blinkit leads the quick commerce market with around 45% share. BigBasket holds around 10-15% market share, behind Instamart and Zepto. BigBasket plans to have around 600 dark stores across India, fuelled by 60 large warehouses. The dark stores will carry popular grocery and non-grocery products, while warehouses will store appliances and other expensive items.
Flipkart recently introduced ‘Minutes’, which mainly offers electronics in Bengaluru, New Delhi, and Mumbai.