Swiggy’s Instamart Overtakes Zepto to Claim Second Spot in Quick Commerce

Swiggy’s quick commerce unit, Instamart, has overtaken Zepto to take the 2nd position in terms of net merchandise value (NMV) for the week of August 4-11, 2025, according to Moneycontrol report. Blinkit, backed by Eternal, held the top position during the same period.

As per the report, Blinkit with an NMV of ₹845 crore for the week, ahead of Instamart at ₹405 crore and Zepto at ₹375 crore. This gave Blinkit a 52% market share, Instamart 25%, and Zepto 23%. NMV refers to the value of goods sold after deducting returns and cancellations.

Change in Market Positions

Instamart’s move to 2nd place marks its first lead over Zepto in several months. Zepto had climbed to second place in November 2024 with a 29% market share, compared with Instamart’s 25%, according to a Motilal Oswal report. Since then, Swiggy has been investing in Instamart, while Zepto has scaled back spending to focus on profitability.

"Zepto's NMV, value of goods sold at final selling price net of refunds and cancellations, for August 4th to 11th, was not Rs 375 crore. That number is incorrect; the actual number is exactly Rs 432.17 crore for August 4th to 11th," a Zepto spokesperson stated to Moneycontrol.

As per the report, the company is in the process of raising up to $500 million from existing investors, with a potential valuation of $7 billion.

Competition in Quick Commerce

Blinkit, Instamart, and Zepto are the main players in the quick commerce segment, which has also seen new entrants such as Flipkart Minutes and Tata’s BigBasket. As per the reports,  the sector continues to expand, driven by demand for faster delivery in urban markets.

Read more: Quick-Commerce Boom: Orders Hit ₹64,000 Crore in FY25, Projecting ₹2 Lakh Crore by FY28!

Conclusion

The latest NMV data places Instamart in second position ahead of Zepto, while Blinkit remains in the lead. Market competition among these players remains high as they continue to target growth in the quick commerce sector.

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