I think most people are assuming that Blinkit is competing with Zepto, BB for the same pie. Its not. The competition is with Kirana stores and its taking away that business. And the TAM of that is massive. Where they have done wonders is AOV of Rs 620 vs Rs 450 of the competitors which goes straight to the bottomline. Agree that in India there is low brand loyalty, but the expansion of the market especially newer cities and new premium product categories is what make it possible for multiple players to succeed. In future the demanding Indian customers will want everything in 10 mins.
Disclosure – Took significant position between 40 and 100. No added since then since despite the massive growth as valuations are not attractive any longer.
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