Amazon, Flipkart rapid-delivery blitz sparks $15-billion rout for Eternal and Swiggy
Aggressive dark-store expansion by Amazon Now (300+ cities) and Flipkart Minutes (1,000 stores) triggered a $15-billion selloff, with Eternal down 28% and Swiggy down 47%. Reliance's 3,100+ stores and Zepto's planned $1-billion IPO signal a prolonged landgrab in India's $11-billion rapid-commerce market.
Amazon and Flipkart's aggressive quick-commerce expansion via dark stores triggered a $15-billion selloff for Blinkit-owner Eternal and Swiggy. Intensifying price war, JioMart's push, and Zepto's planned $1-billion IPO signal a prolonged landgrab in India's $11-billion rapid-delivery market.