FAST & FURIOUS

The rapid growth of quick commerce is reshaping India's retail shopping scene. Not everyone is happy about it, though

- K. SUNIL THOMAS

It was when he was stuck at home during the Covid pandemic that Mumbai boy Aadit Palicha noticed the struggles of his elderly neighbours in getting their daily groceries. It led to a billion-dollar idea, which today has some of the biggest companies in the world, from Amazon to Reliance, playing catch-up to.

What Aadit and Kaivalya Vohra, both 18 then, kickstarted by delivering medicines and groceries to the needy neighbours on bicycle has blossomed into Zepto, a startup worth a mind-boggling ₹30,000 crore valuation, in just around three years. In the process, they have become India's youngest billionaires, according to the Hurun Rich List released a month ago. "Quick commerce is no longer just about stocking up on necessities. It caters to diverse needs, allowing users to skip the planning phase and instantly access a wide assortment of items in one place," said Aadit, who celebrated his 22nd birthday along with the billionaire status.

Quick commerce, as the name suggests, is an online market service which assures delivery at lightning speed. While a regular order, say on Flipkart or Amazon, may take a few days depending on the item, quick commerce promises delivery in minutes.

A lot of data crunching and predictive algorithms make it work, whereby players like Zepto and BlinkIt set up dark stores in high catchment areas and stock up on items that are likely to be ordered. "The market is shifting towards the quick commerce version," said Srinivasa Reddy, assistant professor, marketing management, T.A. Pai Management Institute, Manipal. "And, we are also seeing a maturity because customers are willing to trust this even for an ice cream!"