 "Zepto logs record 2 million daily orders, 40% higher than top rival")
Quick commerce unicorn Zepto on Thursday said it delivered over two million daily orders during the Diwali week, which it said was 30-40 per cent more than its closest competitor across all peak days.
Zepto’s co-founder and chief executive officer Aadit Palicha said that the two million daily order mark was the highest in the company’s history. In the run up to Diwali, the platform recorded 2.1 million orders on October 18, 2.37 million on October 19, and 2.13 million on October 20.
“This Diwali, we consistently delivered 30-40 per cent more daily orders than our closest peer across all peak days, while maintaining a significantly lower absolute cash burn per order. Our trajectory gives us confidence in delivering multiple consecutive quarters of over 20 per cent order volume growth, alongside continuous improvements in Ebitda (earnings before interest, taxes, depreciation and amortisation), operating cash flow, and free cash flow,” Palicha said.
According to Motilal Oswal, Eternal’s Blinkit is currently leading the quick commerce market, followed by Zepto and Swiggy Instamart. While Instamart did not share comprehensive sales numbers, it reported a five-fold surge in gold and silver coin sales during Dhanteras, marking a sharp uptick in demand year-over-year.
In addition, BigBasket witnessed strong festival sales during Diwali, led by a 500 per cent year-on-year growth in electronics, driven largely by the sales of iPhones.
Flipkart Minutes, too, claimed a 1.5 times growth in orders over weekly orders during the festival season, with over 1.93 million unique orders placed during the festival week (18-22 October).