Will quick commerce ever be profitable?
After raising millions through 2021 and early 2022, it might seem as though the quick commerce bubble has popped with several companies folding up, sacking staff or being acquired. 2021 saw a flurry of such startups raise millions in investment, such as Zepto. 2022 saw a wave of consolidation—Blinkit was bought over by Zomato and Dunzo sold a 25.8 percent stake to Reliance. Meanwhile, OlaDash folded up. Come 2023, Reliance decided to shut down JioMart Express. So can quick commerce companies ever be profitable, and if so, how?
By: Varsha Meghani
Published: Apr 3, 2023