Blinkit, Zepto, and Swiggy Instamart are racing to dominate India's quick commerce market, but which business model is actually working? This analysis breaks down their latest financials, contribution margins, revenue per order, customer acquisition costs, and dark-store economics to uncover why Blinkit leads in profitability, where Instamart is catching up, and why Zepto's growth still comes with significant losses.
