Locking horns with cash-rich Reliance and well-funded startups, like Zepto and Blinkit, The New Shop aims to accelerate the adoption of convenience retail in India
The New Shop is aiming to set up 10,000 stores, which would operate 24*7, across India in the next 7-8 years
The startup is banking on its cost-efficient model and 360 degree experience for customers through integration of physical retail with technology for expansion
The word quick commerce has become a part of daily language over the last year or so. As the buzz for 10-minute delivery grew, investors lined up to get a stake in quick-commerce startups, like Zepto, Blinkit, and BigBasket, and their valuations zoomed. However, as the physical retail stores opened up with the waning effect of Covid-19, many questions were raised on the sustainability of the quick-commerce startups and their high cash burn.
Only time will tell about the future of quick-commer
