According to a credible report, Walmart-backed PhonePe is expected to enter the quick commerce market through its e-commerce venture, Pincode. With this, it marks the third attempt by the Sameer Nigam-led company to expand into the online retail segment. Furthermore, PhonePe's Pincode app exited non-food categories on the Open Network for Digital Commerce (ONDC) in April last year. With this, it now only offers food delivery and unreserved ticket booking on ONDC.
Also, as per another credible report, Pincode has fully pivoted itself to the quick commerce model, by launching 15-minute deliveries across specific cities which include Bengaluru, Mumbai, New Delhi, Pune, Hyderabad, and Varanasi. Furthermore, with the full service rollout expected between April and June 2025, the company also plans to spread its wings so as to steer its coverage to about 25 percent in the above markets in the coming weeks.
Following in the footsteps of Flipkart, PhonePe will be the second company from the same group to venture into this burgeoning instant delivery market, wherein, Zomato and Blinkit has become noteworthy figures in this space.
Both established and emerging companies have entered the quick commerce sector in recent months. If we delve into the segment, Blinkit, Zepto, and Instamart lead the market, while newcomers such as Amazon, Flipkart, and BigBasket, are expanding their presence. Adding to this, there's a growing trend of 10-15 minute food deliveries beyond groceries with Swiggy, Zomato, Blinkit, Zepto, Ola, and Magicpin announcing their entry into this space, sequentially.
