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India’s Quick Commerce Boom: 5,500 Dark Stores by FY26 and a $40 Billion Market by FY28

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India’s quick commerce sector is poised for massive growth, with HSBC predicting 5,000 to 5,500 dark stores by the 2025-26 fiscal year. By 2027-28, the industry is projected to achieve a gross order value of $35–$40 billion, according to HSBC’s latest report.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

Leading players like Blinkit, Zepto, and Swiggy’s Instamart have been expanding at breakneck speed. Blinkit, Zomato’s quick commerce arm, added 216 stores in a single quarter and now operates over 1,000 stores as of the December 2024 quarter. The company aims to double its network to 2,000 stores by the end of the fiscal year. Zepto, with 850 stores currently, is on track to surpass the 1,000-store milestone this year, while Swiggy’s Instamart is expected to hit 1,000 stores soon as well.

Continue Exploring: NONSTOP launches first flagship store in Mumbai, offering mobility and wellness solutions

However, HSBC suggests this expansion frenzy may be reaching its limits. “Once Zepto and others hit the 1,000-store mark, the focus will likely shift to capacity optimisation rather than aggressive growth,” the brokerage noted in its report. Blinkit and Swiggy are also expected to ease their rapid expansion plans.

By the close of FY25, HSBC estimates that the sector will have sufficient store capacity to meet projected demand through FY28. This shift from expansion to operational efficiency is expected to help companies prioritise profitability and streamline their operations.

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