Swiggy Instamart Behind Blinkit, Zepto In Quick Commerce Race: Citi

In the QC space, Citi estimates Zomato’s market share at 41%, while Zepto is projected ‘par/higher than Swiggy’, based on data traffic trends, pushing Swiggy to the third place

Swiggy’s market share in the quick commerce space is estimated at 23%

Citi initiated coverage on Swiggy with a ‘Buy’ rating and set the target price at INR 480 as it sees growth potential in the longer run in both food delivery and quick commerce

Amid raging competition in India’s quick commerce space, brokerage firm Citi has said…