Food and grocery delivery giant Swiggy has appointed Flipkart’s veteran Amitesh Jha as CEO of its quick commerce business, Swiggy Instamart, effective September 4. Jha brings over two decades of e-commerce experience, joining at a time of increasing competition in the quick commerce space.
The appointment comes as part of a broader leadership reshuffle at Swiggy. The company’s co-founder Phani Kishan, who currently heads Instamart, will transition to overseeing Swiggy’s central growth unit. Kishan will focus on initiatives like Swiggy One loyalty programme and serve as chief of staff to co-founder Sriharsha Majety.
At Flipkart, Jha led core categories and managed the logistics arm during his 14-year tenure. He was instrumental in driving the company’s growth in electronics and supply chain operations. His appointment follows Swiggy’s recent hirings of other accomplished leaders, including Sairam Krishnamurthy as senior vice president and chief operating officer of Instamart, to double down on quick commerce.
Meanwhile, the q-comm sector is seeing intense competition, with Zomato’s Blinkit currently leading the pack with a 40-45% market share, followed by Swiggy Instamart at 20-25%. Other players like Zepto, Tata’s BB Now and Flipkart Minutes are also ramping up operations to capitalise on the growing market.
Additionally, Amazon is reportedly set to enter the quick commerce space in India, with plans to launch its offering by early next year. Amazon aims to gradually bring delivery times down to 20-30 minutes for select items, signaling its intent to compete directly with existing players in the sector.
Existing quick commerce platforms are also expanding their product offerings. Many are aiming to stock up to 20,000 SKUs, venturing beyond groceries into categories like electronics and apparel. This expansion is expected to heat up further during the upcoming festive season.
With both established players and new entrants vying for market share, consumers could expect to see continued innovation and improved services in the coming months.
Industry analysts estimate India’s quick commerce market could reach $6 billion by 2025, up from negligible levels just three years ago. The sector has grown 230% between 2021 and 2023, driven by changing consumer preferences for faster deliveries.
From: financialexpress
Financial News
