The Tata group is reportedly foraying into the quick commerce space with its latest offering Neu Flash, an offshoot of its ecommerce venture Tata Neu. It is expected to compete with Zomato’s Blinkit, Swiggy Instamart and Zepto – the top three players in the quick commerce space.
According to a report in Economic Times, Tatas are the latest players to join the ultra-fast delivery segment after Flipkart and Reliance Industries. Neu Flash will be rolled out to select users to shop across categories such as grocery, electronics, and fashion, in the coming weeks.
Neu Flash will be powered by BigBasket for the grocery segment, while Croma will sell electronics and phones, and Tata Cliq will handle fashion and lifestyle products.
Tata’s foray comes after Flipkart entered the market with its service named ‘Minutes’, and Reliance JioMart is testing the service again after shutting its 90-minute delivery under JioMart. Meanwhile, Blinkit, Instamart and Zepto already command 85 per cent of the quick commerce market. The competition among the players stiffen as quick commerce grows faster compared to ecommerce and other forms of retail.
Additionally, Zepto is raising $150 million from local investors after raising $1 billion in two months, as it poses a challenge to Blinkit that commands around 40 per cent market share.
Tata’s e-pharmacy, 1mg, that delivers medicines in a few hours in select regions in Delhi-NCR, is expected to go fully live on Neu Flash too.