BigBasket Asia Communacopia and Technology Key Takeaways

Goldman Sachs hosted BigBasket management to discuss India's quick commerce market, highlighting a shift toward multi-category retail and the challenging but improving unit economics driven by ad revenue and order density.

Key Takeaways

• 1.Quick commerce in India is evolving from a grocery-dominant model to a multi-category format, where non-grocery items could potentially exceed 50% of the Total Addressable Market (TAM).
• 2.The industry is seeing rapid user growth, acquiring approximately 5 million new users per month, with the average customer utilizing three different apps.
• 3.Competitive intensity is high, particularly with horizontal e-commerce players entering the space, but management expects consolidation in the quick commerce industry over time.

Table of Contents

• Detailed takeaways below:
• Industry:
• Customer traction:
• Competitive landscape:
• Unit economics
• Ad monetization
• Disclosure Appendix
• Reg AC
• GS Factor Profile
• M&A Rank
• Quantum
• Disclosures
• Company-specific regulatory disclosures
• Distribution of ratings/investment banking relationships
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Ratings, coverage universe and related definitions
• Global product; distributing entities
• General disclosures

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