BENGALURU: Quick commerce platforms are pushing shoppers to buy in bulk to lift order values, but analysts warn the discount-heavy tactic may deepen, not solve, their profitability challenge.
Swiggy Instamart and Zepto are doubling down on bulk-purchase and planned-order features, betting that nudging customers to buy more per order will raise average order values (AOV) and improve unit economics.
The push appears to be delivering headline gains. Swiggy Instamart’s Maxxsaver drove its AOV up to ₹746 in the December quarter, from ₹534 a year earlier, underscoring growing consumer appetite for discounted larger carts.
But analysts caution that much of this growth is being bought with deeper discounts, free-delivery thresholds, and incentives that weigh on margins. Larger baskets also increase packing and last-mile costs, raising questions about whether higher AOVs are translating into healthier economics.
Mint explains why platforms are chasing bulk buys and what this trade-off means for quick commerce strategies ahead, especially as competition intensifies.
From impulse to planned purchases
Quick commerce was built on impulse buys and urgent top-ups. But as platforms chase profitability, they are increasingly trying to steer users toward planned weekly or monthly orders that promise better cost efficiency.
Swiggy Instamart rolled out Maxxsaver in April last year, offering savings of up to ₹500 on orders above ₹999 across its range of more than 35,000 products, including non-grocery items such as apparel and kitchenware. Zepto launched SuperSaver in September 2024, testing the feature in Bengaluru, with discounted prices on orders above ₹1,000.
Nudging users toward planned purchases helps platforms smooth demand and improve unit economics, according to Satish Meena, analyst at market research firm Datum Intelligence.
“This can improve overheads such as fulfillment and reduce per-order costs, which can meaningfully improve unit economics compared to single-item orders,” Meena said.
Other variants of the same strategy are also being rolled out across platforms. Zepto introduced slotted deliveries in select pockets of Bengaluru in December, enabling users to choose a delivery window instead of opting for delivery within minutes. Swiggy Instamart allows users to combine orders with a longer wait time, helping it minimize the cost of multiple deliveries. Tata Group’s BigBasket continues to offer scheduled deliveries, a proposition on which it built its foundation, although quick deliveries are now the focus.
Scheduled deliveries also boost non-grocery order growth, which is essential for sustaining high AOV, Meena noted. Non-grocery orders accounted for 32% of Instamart’s December-quarter sales, its investor presentation showed.
Zepto’s Super Saver has the potential to bring 3x the AOV of regular deliveries, CEO Aadit Palicha had told Mint in November 2024. The company did not respond to Mint’s queries on SuperSaver’s traction or strategy.
Why analysts are wary
Despite higher AOVs and early traction, analysts argue that the economics of bulk buying are far from settled.
“Larger baskets do help improve order values, but the challenge is that quick commerce platforms are often inducing that behaviour through discounts and delivery incentives. Unless those subsidies taper meaningfully, higher AOVs don’t automatically translate into better margins,” Datum Intelligence’s Meena said.
An HSBC report from March 2025 highlighted that these value-oriented programmes could squeeze Ebitda margins to 3% from 6% in the near term, indicating that discount-driven features can offer only limited growth. Moreover, near-term profitability prospects weaken, the report noted.
Swiggy Instamart’s latest numbers reflect that strain. The firm’s Ebitda margin in the December quarter improved only incrementally to negative 2.5% from negative 2.6% in the previous quarter, prompting the firm to review its discounting strategy.
“Amidst irrational competition, our recent investments into lower consumer-side monetization have not yielded the desired incremental order-growth, especially at the bottom of the AOV-pyramid; and are being reviewed,” the firm said in its investor presentation.
What comes next
Bulk-buying features will remain part of Swiggy Instamart’s and Zepto’s playbooks, but a more measured approach to investments and discounting is likely, according to Meena.
Swiggy Instamart’s chief executive officer Amitesh Jha said during the Q3FY26 earnings call that the firm will stay away from deep discounting for higher AOVs. “We will not throw good money at bad growth,” he had said.
Just-in-time delivery, the core promise of quick commerce, must also remain central to platform strategies if they want to grow their user base and AOVs in a healthy and sustainable way, Meena noted.
“Market leader Blinkit has grown on the back of operational efficiencies and hence does not find the need to indulge in deep discounting on bulk buys. It’s a classic playbook for sustainable growth,” Meena said.