Bernstein
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Quick commerce still bleeds ₹98-100 per order as Blinkit, Zepto, Instamart race on dark stores
Bernstein finds Indian q-com platforms spend ₹98-100 per order against ₹116-118 fulfilment cost despite scale gains. Blinkit leads with 77M MAU and 2,222 dark stores across 243 cities; Zepto bets on density with 21 stores per city in 61 cities and 10.5 weekly sessions per user; Instamart trails at 20M MAU.
The Hindu BusinessLine · 5/21/2026, 12:51:03 PM
FMCG demand steadies post-GST reset, rural staples lead uneven recovery
India's FMCG sector is stabilising after the GST reset, with staples and rural markets pacing the rebound while discretionary and urban mass categories stay subdued. Analysts at Bernstein and Bizom flag a possible return to mid-to-high single-digit volume growth in coming quarters if the current stabilisation holds.
CNBC-TV18 · Retail · 5/14/2026, 1:20:44 AM
Quick-commerce chases tier-1, tier-2 cities as metros saturate past 6,000 dark stores
With metro dark-store density peaking above 6,000 outlets, Blinkit, Zepto, Instamart and newer entrants Amazon Now and Flipkart Minutes are pushing into smaller cities. Bernstein flags headroom in tier-1/2 markets but warns intensifying competition could compress unit economics.
Business Standard · Companies · 5/14/2026, 12:24:26 AM