Soon after Myntra made it’s entry into quick commerce, Tata Group’s ecommerce venture, Neu, has recently testing a rapid delivery service called Neu Flash as the demand for instant deliveries is growing at a fast pace in India. Currently the 15-minute delivery service is currently operational in over metro 20 cities across India like Delhi NCR, Hyderabad, Bangalore, Mumbai, Chennai. Although the service is slowly expanding in tier 2 cities as well but it will be only available in selected pin codes offering a chosen range of products during its initial phase.
The app, constructed on Tata’s current digital framework, ensures swift delivery across various categories such as groceries, electronics, apparel, and beauty products. It will It utilizes Big Basket’shyperlocal network for groceries, Croma for electronics, and Tata Cliq for fashion and lifestyle items, all three owned and managed by TATA group.
As Tata Digital focuses on enhancing Neu’s market presence after facing difficulties in the superappsector, they are expanding into quick commerce. This expansion follows significant backend enhancements to Neu’s platform in the last year, including a redesigned user interface and improved integration of Tata’s digital resources.
With more than 10 lakh people employed, the total revenue of Tata Group companies for FY 2023-24 is estimated at $165 billion. The 26 publicly listedcompanies of Tata, have a combined market valuation of $365 billion as on March 31, 2024.
Industry data shows that India’s quick commerce sector has grown by 280% in since past two years, market leaders like Blinkit, Zepto, and SwiggyInstamart has a combined revenue over $1 Bn in revenue for FY24.
Recently e-commerce platform Myntra made it’s entry into quick commerce by launching M-Now, to deliver products within 30 minutes to 2 hours.
According to a report Amazon is all set to introduce its quick commerce service in India, aiming for a potential rollout in the first quarter of 2025.
