Explorer

We Think Of Ourselves As A Hyperlocal Walmart For A Hyperlocal India: Zepto CEO

According to him, the Indian market for groceries and household essentials reached $650 billion in size as of FY23 and is expected to expand to $850 billion by FY29

Aadit Palicha, co-founder and CEO of the quick commerce platform Zepto, described that the three-year-old company is positioning itself as India's equivalent of hyperlocal Walmart. Zepto secured a $665 million funding round on June 22, valuing the company at $3.6 billion and solidifying its presence in India's rapidly expanding quick commerce sector.

“We think of ourselves as a hyperlocal Walmart for a hyperlocal India…that was the big gap that helped us get to the scale and the level of profitability we’ve gotten to,” Palicha said at an event in New Delhi on Saturday.

“In commerce generally, nobody has been able to build a hyperlocal platform at scale that has quality customer experience…and the reality is that most (of the) commerce in India is done on a hyperlocal basis. The reason why we’re seeing such an incredible product market fit is because we’re the first commerce platform that beats the proximity advantage with the structural advantages of a large-scale retailer in terms of price and sourcing leverage, selection, quality control,” Palicha added.

While Zepto, along with other quick commerce players like Blinkit, owned by Zomato, and Swiggy’s Instamart, which is preparing for an IPO, expanded into categories such as consumer electronics, fashion, home furnishings, and beauty and personal care, Palicha emphasised that the greatest potential lies in groceries and household essentials.

According to him, the Indian market for groceries and household essentials reached $650 billion in size as of FY23 and is expected to expand to $850 billion by FY29.

“If you want to build a business that’s larger than Amazon or Flipkart…grocery is bigger than all the categories that Amazon and Flipkart serve combined. If you take electronics, apparel, furniture, and all the others—and double them—they’re still not as large as grocery and household essentials. So we’re building in the mother of all categories,” the Zepto CEO said.

Palicha also emphasised that Zepto will maintain its focus on the market potential within India's top 40 cities, which are projected to account for nearly half of the grocery and household essentials segment by FY29.

Also Read : Union Budget 2024: Parliament Session To Begin On July 22, Budget Presentation On July 23

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Delhi Elections: Congress Releases Second List Of 26 Candidates
Delhi Elections: Congress Releases Second List Of 26 Candidates
President Appoints Governors In 5 States, Ajay Bhalla Named Manipur Guv, Arif Mohammed Khan Shifted To Bihar
President Appoints Governors In 5 States, Ajay Bhalla Named Manipur Guv, Arif Mohammed Khan Shifted To Bihar
5 Jawans Killed After Army Vehicle Falls Into Gorge In J&K's Poonch, Several Others Injured
5 Jawans Killed After Army Vehicle Falls Into Gorge In J&K's Poonch, Several Others Injured
Delhi Pollution: GRAP-4 Measures Revoked As Air Quality Improves Amid Light Rains
Delhi Pollution: GRAP-4 Measures Revoked As Air Quality Improves Amid Light Rains
Advertisement
ABP Premium

Videos

Manu Bhaker expresses disappointment after not being included in Khel Ratna Award listKumar Vishwas targets Shatrughan Sinha family, sparks controversy with remarks on RamayanaDelhi Govt. issues guidelines regarding illegal Bangladeshi student admissions in schoolsSambhal News: Shahi Jama Masjid survey report won't be presented today, technical revisions ongoing

Photo Gallery

Embed widget