India, March 17 -- While Zomato-owned Blinkit and Swiggy Instamart are accelerating the pace of dark store network expansion, IPO-bound Zepto is slowing down, which suggests a potential easing in competition intensity in India's quick commerce market, JP Morgan said.

In a recent research note, the global brokerage firm said that both Blinkit and Instarmart added over 150 dark stores over the January-February period, while Zepto saw its dark store additions moderating.

"Our calculations suggest Blinkit & Swiggy are tracking ~250 store additions for 4QFY25 while Zepto is sharply slower," analysts at JP Morgan said. They argued that this could suggest "peaking competition intensity" in the quick commerce market, which they said is positive...