Amazon, Flipkart dark-store blitz wipes $15B off Eternal and Swiggy
Amazon Now's 300+ city push and Flipkart's 1,000 dark stores have intensified India's quick-commerce war, sending Eternal (Blinkit) down 28% and Swiggy down 47%. With Zepto eyeing a $1B IPO and Reliance scaling JioMart, the $11B segment faces a prolonged, loss-heavy landgrab into Tier 2/3 towns.
Amazon and Flipkart's aggressive quick-commerce expansion via dark stores has wiped over $15 billion off Eternal (Blinkit) and Swiggy, intensifying competition. Zepto plans a $1 billion IPO while Reliance pushes JioMart, signaling a prolonged landgrab spreading into Tier 2/3 towns.