Discounting in India’s fast-growing quick commerce and e-grocery market is showing signs of moderation after a steady rise over the past two years, as platforms recalibrate strategies amid intensifying competition and pressure on unit economics, according to a Jefferies report.

A mystery shopping exercise across major platforms in Bengaluru found that grocery baskets saw discounts ranging between 15 per cent and 24 per cent compared with maximum retail prices (MRP), with an average discount of about 17 per cent.

Flipkart Minutes’ XtraSaver feature emerged as the most aggressive, offering up to 24 per cent discount, followed by DMart Ready and Flipkart Minutes at around 23 per cent, and Amazon Now at 22 per cent.

However, the report noted that discounting has eased compared with December levels across most platforms, suggesting a shift towards more disciplined pricing. Analysts said the moderation indicates that companies may be prioritising margins after a prolonged period of aggressive customer acquisition spending.

Category-level trends remain uneven. Personal care products saw the steepest discounts at 35%, while packaged food and staples were discounted by 20% and 19%, respectively. Dairy products, a low-margin category, saw minimal discounting at just 5%.

The analysis also highlights a clear trade-off emerging in the sector: speed versus price. Platforms such as Blinkit and Swiggy Instamart, which focus on rapid deliveries, were not the cheapest option for any product in the sample basket and offered discounts of around 15%, among the lowest in the cohort.

Meanwhile, pricing leadership appears to be shifting. Amazon Now, which had been the cheapest option in previous checks, has seen its relative advantage narrow. At the same time, newer features such as Flipkart Minutes’ XtraSaver are helping platforms drive higher cart values by offering incremental discounts above a threshold.

Consumer economics are improving on some fronts. Several platforms have reduced or eliminated platform and handling fees, while free delivery thresholds have become more competitive, with some players offering it for orders above ₹99.

On the demand side, growth signals are mixed. Monthly active users declined sequentially for most platforms, with DMart Ready, JioMart and Amazon seeing the sharpest moderation, though Blinkit, Zepto and BigBasket bucked the trend. App downloads also softened across platforms, except for Flipkart.

Despite the near-term moderation, the report noted that discounting levels remain structurally higher than in 2022, underlining the continued intensity of competition in the quick commerce space.

Published on April 21, 2026