Blinkit, the instant-delivery service owned by Zomato, has launched a facility for brands on its app to create custom pages and promote products.
Sellers using ‘Brand Stores’ can track real-time performance of products, highlighting them and creating their own design.
“One of the most consistent requests we received from brands, large and emerging — but especially emerging — was the ability to better connect with customers. These new age brands don’t yet have the prowess to tell their story to customers using mass media. At the same time, all brands want to really target their products and services in a way, which stays true to their brand identity and beliefs,” said Blinkit in a company blog post.
Using ‘Stores’, brands on Blinkit’s platform can create content and sections according to relevance or customers’ likes. They can also showcase products to reflect their own style.
“Once set up, brands can also look at real-time analytics around performance of their pages, what is working and what is not. This, coupled with the insights into sell throughs and supply chain tools give brands a near real time view into their performance - both on the app and in different geographies,” said the post.
The company works with more than 500 brands in 500 localities.
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Blinkit reported an increase in its GOV (gross order value) to Rs 1,749 crore in the third quarter of FY23, from Rs 1,482 crore in the previous quarter.
“GOV grew 18 per cent QoQ, driven by 21 per cent growth in order volume, compensating for the reduction in average order value. Growth in revenue per order led to higher revenue growth of 28 per cent QoQ,” said Albinder Dhindsa, chief executive officer of Blinkit, in a regulatory filing.
Management attributed the dip in average order value in Q3 to customers “preferring to buy smaller packs instead of larger ones.”
“Quick commerce will help brands do more targeted marketing and get better ROI on their investments. We expect advertisement revenue to be a significant driver for increase in revenue per order going forward,” said Dhindsa.
