Updated February 14th, 2024 at 15:34 IST

Valentine's Day: 32% of all orders going out today are gift orders, says Blinkit

To boost the Valentine's Day experience, Blinkit also introduced a new app flow and special packaging designed specifically for gift-giving.

Reported by: Business Desk
Blinkit on Valentine's Day | Image:Blinkit
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Blinkit in focus: Blinkit, the grocery delivery platform owned by Zomato, shared an exciting update on Twitter on Valentine's Day. In a tweet, Albinder Dhindsa, CEO and co-founder of Blinkit said, “32 per cent of all orders going out today are gift orders. 

To boost the Valentine's Day experience, Blinkit also introduced a new app flow and special packaging designed specifically for gift-giving. Dhindsa expressed his enthusiasm for the new packaging, highlighting its aesthetic appeal.

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Founded in 2013, Blink Commerce Private Limited is an instant delivery service, based out of Gurgaon. Customers of the company use a mobile application to order groceries and essentials online.

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Blinkit's financial performance for the quarter reflected notable growth. The company reported a 28 per cent quarter-on-quarter increase and a 103 per cent year-on-year growth in Gross Order Value (GOV), attributed largely to heightened demand during various festivals and occasions. 

Additionally, Blinkit's revenue from advertisements surged by 220 per cent year-on-year in the December quarter, outpacing the growth in order value.

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In the December quarter, Blinkit recorded a revenue of Rs 644 crore compared to Rs 301 crore in the same quarter the previous year, indicating a major expansion. Moreover, the company's adjusted EBITDA loss improved to Rs 89 crore, reflecting enhanced operational efficiency.

Zomato's shareholder letter highlighted Blinkit's positive contribution margin, which increased to 2.4 per cent in Q3 FY24 from 1.3 per cent in the previous quarter. The company's operational metrics also witnessed notable growth, with a 103 per cent year-on-year increase in GOV and a 14 per cent jump in average order value.

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Blinkit attributed its growth to strategic initiatives, such as expanding its advertiser base and adding new stores. The company reported a surge in advertisers, with the top 20 advertisers contributing significantly to total ad revenue.

Furthermore, Blinkit's expansion efforts included adding 40 net new stores in the quarter, bringing the total store count to 451. Despite the increase in store count, Blinkit achieved a 17 per cent quarter-on-quarter growth in GOV per day, per store, indicating healthy same-store sales growth.

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In terms of order volume, Blinkit delivered 55.8 million orders in Q3 FY24, marking a significant increase from the previous year. The average order value also saw a notable uptick.

Dhindsa expressed optimism about Blinkit's future prospects, stressing the growing pool of contribution profit and the company's ability to invest in new stores while improving ggregate contribution margins. 

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Published February 14th, 2024 at 15:34 IST