Blinkit's founder and CEO, Albinder Dhindsa, shared the thriving Diwali purchase trends, noting a remarkable surge in silver and gold coin sales through the 10-minute delivery app.
Dhindsa emphasized the popularity of silver and gold coins as ideal Diwali gifts, stating, "Even today, silver and gold coins are flying off the shelves! They make for a perfect Diwali gift," in a post on X (formerly Twitter).
Highlighting the substantial demand, Dhindsa revealed that a single order through the platform included a whopping 100 silver coins, showcasing the festive enthusiasm of customers.
Blinkit, the rapid-commerce arm of Zomato, reported heightened sales of gold, silver coins, and Dhanteras-related items. Dhindsa expressed confidence in meeting the demand, stating, "Dhanteras muhurat hasn’t even started, and we're already close to surpassing half of last year's gold and silver coin sales. Fortunately, we took a big bet and have ample supply to meet the high demand. #dhanteras2023."
In a surprising revelation, Dhindsa shared a surge in broom sales last Friday, citing the auspicious significance of buying brooms on Dhanteras. A graph illustrates the increase in broom sales compared to the preceding Friday.
Fresh flowers and leaves emerged as another top-selling category, adding to Blinkit's diverse sales portfolio.
A significant milestone was achieved as Blinkit turned contribution positive for the first time in Q2 FY24, according to Zomato's Q2 results. The contribution margin, expressed as a percentage of GOV, improved from -7.3% in Q2 FY23 to +1.3% in Q2 FY24.
Zomato's strategic acquisition of Blinkit (formerly Grofers) and its ancillary services business in August 2022, following the approved Rs 4,447-crore transaction in June 2022, played a pivotal role in this transformative success. The ancillary business, acquired for Rs 61 crore, contributed to Blinkit's positive trajectory.
