According to an Economic Times report, quick commerce platforms, like Blinkit, Zepto and SwiggyInstamart, aim to boost their inventory by 60 per cent and offer special promotion packs on chocolates, sweets, dry fruits, cookies, etc. The platforms are looking to grab a bigger share in the festive gifting market, with executives meeting brands to finalise plans.
Krishnarao Buddha, senior category head at Parle told ET, "Quick commerce companies want some hand-holding from the large FMCG companies for the festive season, in terms of promotion support or special packs. They want to give strong competition this Diwali, (to what was) till last year… limited (to) e-commerce platforms and modern retail."
Mondelez India, who run the Cadbury brand in India, has also partnered with leading quick commerce companies, especially for gifting. Cadbury's Celebrations gifting package is among the top sellers for gifting, especially during the festive season. They also aim to target 'premium shoppers' with their Silk and Bournville branded gifting packs.
“This includes strong on-app and off-app collaborations, including on digital and out-of-home, apart from building significant visibility on the platform,” Desmond D’souza, vice president of sales at Mondelez India, said.
ITC is also looking to capitalise on the growing popularity of these platforms.
Consumers are looking at quick commerce for gifting purposes across foods and personal care categories, an ITC spokesperson told ET, adding “ITC has lined up a slew of festive gift packs across categories for launch on different channels, including quick commerce. We expect sales from quick commerce to go up significantly this season.”
Besides getting into the festive gifting season, the platforms are also negotiating to dip into the electronics market.
Many of them have already forged alliances with consumer electronics companies for the likes of kitchen appliances, small personal care electronic products, smartwatches, earbuds, etc.
A senior executive at a large electronics brand with a strong presence in kitchen appliances and grooming items told ET that the company will expand its presence in quick commerce this Diwali for the first time. “Consumer preference has shifted to quick commerce in large cities,” he said.
The 10-30-minute delivery companies are also rapidly expanding their portfolio and taking rapid and scheduled deliveries to newer locations.