Zomato-owned quick commerce platform Blinkit has launched an offering it calls ‘Brand Stores’, where partner brands can showcase their products in a way that is tailored to their style.
What Happened? Quick commerce platform Blinkit on Thursday announced a new feature called ‘Brand Stores’ that lets brands create custom-designed stores within the Blinkit app.
Catered towards D2C (direct-to-consumer) and FMCG (fast-moving consumer goods) brands that have partnered with BlinkIt, the new offering is aimed at offering them an opportunity to connect better with customers and make it easier for users to find what they are looking for.
More than 20 brands are now part of the initiative, according to Blinkit. “At this point, we are operational in over 500 localities giving access to our customers of over 13,000 unique items,” said the company.
Once set up, brands can also look at real-time analytics around the performance of their pages, and review what is working and what is not. Brands can also choose to create different kinds of content and sections according to what they feel is more relevant to their presence on the platform, or what their customers might like, said Blinkit.
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The quick commerce platform reported Q3 FY23 losses at ₹288.5 crore, according to Zomato’s quarterly results. That said, Blinkit did manage to narrow its adjusted EBITDA to ₹227 crore from ₹259 crore on a sequential basis.
The instant delivery platform also recorded 31 lakh transacting customers in Q3, up from 26 lakh in the previous quarter.
Price Action: Zomato shares were trading 2.29% higher at ₹51.40 when markets closed for trading on Thursday.
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