As part of the new offering, Ola is delivering grocery and daily essentials to customers in select parts of Bengaluru in under 10 minutes
This comes just two weeks after Ola Consumer began a pilot of 10-minute food delivery services in Bengaluru via ONDC
In November, Ola Consumer turned into a public limited company as it is eyeing an IPO
Amid the ongoing quick commerce frenzy, Bhavish Aggarwal-led Ola Consumer has launched a pilot of a 10-minute grocery delivery service in select pin codes in Bengaluru. This comes days after the company began the pilot of quick food deliveries.
While Ola Consumer has long been delivering groceries to customers via the government-backed ONDC, the pilot marks its official foray into the quick commerce segment.
As part of the new offering, Ola is delivering grocery and daily essentials such as fruits and vegetables, dairy items, meat and eggs, beverages, instant food, and munchies, along with home care and personal care products, to customers in select parts of Bengaluru in under 10 minutes.
The IPO-bound company is currently not charging any delivery fee for its quick commerce services.
With this, Ola Consumer has become the latest entrant in India’s rapidly growing quick commerce market, which is currently dominated by Zomato-owned Blinkit, Swiggy Instamart, and Zepto. The trio cumulatively reported revenue of more than $900 Mn in the financial year 2023-2024 (FY24).
It is to be noted that Ola Cabs rechristened itself as Ola Consumer earlier this year. At the time, Aggarwal said that the company would double down on its partnership with ONDC and would offer a bouquet of services to make ecommerce more accessible and affordable.
Besides ride-hailing services, Ola Consumer’s offerings now include credit disbursement via Ola Credit, UPI payments via Ola Pay, and an AI shopping copilot.
In November, Ola Consumer turned into a public limited company as it prepares for its initial public offering (IPO).
Ola’s entry is set to further intensify competition in the quick commerce segment. While ecommerce giant Amazon recently announced its foray into the quick commerce space, Flipkart launched ‘Flipkart Minutes’ earlier this year. Established players like Blinkit, Instamart, and Zepto are diversifying their offerings, going beyond the grocery category to sell everything from clothing and toys to jewellery and skin care products.
According to brokerage firm Motilal Oswal, Blinkit led the quick commerce space with a 46% market share in Q1 FY25, followed by Zepto at 29% and Swiggy Instamart at 25%.
Amid growing demand for rapid delivery of daily essentials, several new-age tech companies have jumped on the quick commerce bandwagon over the past few months, including Nykaa, Myntra, and Pilgrim.
The quick commerce market in India, currently valued at $3.3 Bn, is expected to reach a size of $10 Bn by 2029, as per a report by financial services firm Chryseum.
[With inputs from Bismah Malik]