Zomato's Blinkit Introduces Quick 10-Minute Return And Exchange Feature

Zomato's quick commerce platform Blinkit has introduced an easy returns feature, allowing customers to return or exchange items within 10 minutes of raising a request. This new initiative aims to enhance customer convenience and streamline the shopping experience on the platform. Albinder Dhindsa, co-founder of Blinkit, shared the news on his X profile on Tuesday.

"Introducing Easy Returns on Blinkit! Customers can initiate a return/ exchange in case of a size or fit issue with the delivered product. This solves a crucial problem of size anxiety for categories like clothing and footwear. The cool part—return or exchange will happen within 10 minutes of raising a request!" Dhindsa shared.

"We've been testing this in Delhi NCR for a couple of weeks and have now enabled it for Mumbai, Bangalore, Hyderabad and Pune. More cities to be added soon!" the co-founder tweeted.

Blinkit is set to outpace its competitors with plans to establish 1,500 stores across major metros over the next 2.5 years, according to an JPMorgan brokerage report on Oct. 8.

Zomato Ltd.'s net profit surged 45% in the April-June period as the food delivery giant continued to expand its top line and profitability across its businesses.

Shares of Zomato Ltd. closed 0.18% lower at Rs 279.55 apiece, compared to a 0.28% decline in the benchmark Nifty 50. 

It has risen 151.85% in the last 12 months and 125.99% on a year-to-date basis. Total traded volume in the day stood at 23.99 times its 30-day average. The relative strength index was at 44.45.

Of the 27 analysts tracking Zomato, 24 have a 'buy' rating on the stock and three suggest a 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 2.7%.