Quick commerce leader Zepto found itself in the spotlight this week after a pricing glitch on its platform led to inflated costs for certain vegetables. The issue came to light late on July 8th when user Harsh Upadhyay shared a screenshot revealing coriander leaves priced at over Rs 131 per 100 grams. The post quickly gained traction, accumulating nearly 1.4k likes as users expressed astonishment and compared the prices unfavorably with other vendors.
In response to the uproar, Zepto, led by Aadit Palicha, promptly acknowledged the issue, attributing it to a system glitch that caused significant price disparities across its catalog. The company assured users that the problem has been swiftly rectified.
“This was an unfortunate technical glitch that affected the pricing of certain products on our platform,” stated a spokesperson for Zepto. “We apologize for any confusion or inconvenience caused to our valued customers.”
Despite this setback, Zepto has been making significant strides in the quick commerce sector. In June, the company secured $665 million in funding, valuing it at $3.6 billion. Recent reports also indicated an additional $400 million fundraise, pushing its valuation to $4.6 billion. Zepto highlighted substantial growth in its gross merchandise value (GMV), surpassing $1 billion annually, and reported that a significant majority of its stores were now operationally profitable as of May 2024.
Looking ahead, Zepto remains focused on aggressive expansion plans, aiming to double its store count to 700 by the end of the fiscal year. This expansion drive mirrors similar strategies undertaken by its competitors, Blinkit and Swiggy’s Instamart, as the quick commerce sector continues to witness robust growth and competition.