Business News
2 min read | Updated on October 16, 2024, 18:06 IST
SUMMARY
Blinkit’s CEO Albinder Dhindsa announced the quick commerce platform’s new Easy Returns service through a post on X, saying that it is aimed at reducing customer anxiety over sizes for clothing and footwear categories.
Zomato-owned Blinkit and its rivals are making an entry into the fashion sector
Blinkit has rolled out a new service that allows customers to return and exchange products for clothing and footwear in under 10 minutes in some select cities across the country.
The newly launched service by the quick commerce platform aims to address the problem of sizes and fitting faced by several customers who shop online.
In a post on X, Blinkit CEO Albinder Dhindsa introduced the service, ‘Easy Returns’, saying that it solves the size anxiety for clothing and footwear categories.
The service has been tested in Delhi-NCR for a few weeks and will now be enabled for Mumbai, Bengaluru, Hyderabad and Pune. Other cities will also be added soon, Dhindsa said.
Further details about the service haven’t been released yet but the service will presumably be offered on the platform’s application and will be ensured within 10 minutes as mentioned.
According to reports, this can be a crucial step for Blinkit as it will allow customers to shop without worrying about specifications like size and fitting if they face any issues after receiving the order.
Zepto, another leading quick-commerce platform, also reportedly offers a return policy for the first 72 hours if the products are damaged or defective.
Zomato-owned Blinkit and its rivals are making an entry into the fashion sector, expanding their offerings to include a diverse array of products from renowned brands like Adidas, Pepe, FabIndia, Jockey, Boldfit, XYXX, US Polo Association, etc.
This move not only enhances the selection available to consumers but also introduces a level of immediacy that traditional e-commerce platforms have yet to achieve. By delivering these products within 10-30 minutes, these quick commerce platforms are offering customers a much more convenient and time-sensitive alternative to the traditional platforms.
Reportedly, Blinkit, Swiggy and Zepto hold over 90% of the quick commerce market share in India and Blinkit is the market leader with around 40-45% share.
The Gross Merchandise Value (GMV) of quick commerce in India surged from $0.5 billion in FY22 to $3.3 billion in FY24, marking a substantial increase of 280 percent, as per a report by financial services firm Chryseum.
Another report by CLSA revealed that India’s booming quick commerce industry is expected to grow to $10 billion by FY26 and $78 billion by FY34.
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