How India's quick commerce race affects gig workers' lives

The Volume Trap: Why "More Orders" Isn't the Win

Wait, what if the fastest way to win isn’t delivering more groceries, but building something lasting? In India’s quick-commerce race, Swiggy’s Instamart and Zepto are showing that chasing volume without profits is a dead end. Majety’s line is simple: focus on staying power by profitability and sustainable growth. Chasing volume at the expense of average order value and contribution margins? that’s a short-sighted game.

Zepto’s brag, that its orders are 30-40% higher than the next guy, sounds flashy. Aadit Palicha argues Instamart’s higher cash burn per order doesn’t buy longevity. In plain terms: more orders don’t automatically mean a healthier business when margins wither. The real test is whether each order adds real value after costs—material when you’re racing to expand dark stores and capture customers who will stay, not just swipe once.

Staying Power Over Short-Term Firepower

Here’s the thing: money can accelerate a race, but it doesn’t guarantee finish-line stability. Swiggy has signaled a shift from pure volume chasing to building a durable model by planning a QIP of up to ₹10,000 crore. That kind of capital cushion says: we’re playing the long game, and we’ll fund growth only if it improves efficiency and margins in the medium term.

Look, this isn’t just about numbers on a chart. It’s about whether your delivery speeds, stock reliability, and prices stay sane as you scale. Zepto may boast faster growth, but if cash burn grows faster than revenue, the road to profitability gets bumpy. In quick commerce, efficiency—how you run dark stores, how you optimize delivery routes, and how you keep costs predictable—becomes the real competitive edge.

The Dark Store Dilemma: Who Spends Wisely?

So, the battlefield isn’t just brand names; it’s a ledger line by line. Swiggy argues that expanding a network of dark stores is strategic only if it lifts margins and order values, not just volume. Blinkit has been ahead in dark-store expansion, but the question is whether Zepto and Instamart can convert higher order velocity into sustainable profits.

Here's the thing: Swiggy has added 40 dark stores this period, while Eternal expanded aggressively too, adding 272 stores. The pace of capex is eye-popping, and investors are watching every rupee. If the burn per order drops as unit economics improve, the high cash burn buying growth can translate into longer-term wins. If not, it’s just paper growth.

What This Means for You and India’s Quick-C Commerce Era

Look, you’re feeling this in two ways: faster deliveries and steadier prices, or volatile costs and uncertain reliability. The market’s mood hinges on who can demonstrate real efficiency and disciplined capital allocation. The future will reward the players who turn flashy growth into durable profits, not the ones who shout loudest about orders per minute.

In this race, growth is a means, not the finish line. The real victory is a business you can trust—one that serves you quickly today and remains viable tomorrow. The next few quarters will reveal whether Swiggy, Zepto, and their peers can turn high order volumes into lasting value for your daily grocery run.