India, July 8 -- Quick commerce majors Blinkit and Instamart gained market share in the first quarter of the ongoing financial year (Q1 FY26) as players in the sector decided to slow down their aggressive expansion plans, a report by ICICI Securities said.

The report said that Eternal's Blinkit saw its gross order value grow over 25% sequentially, while Swiggy's Instamart witnessed a 22% QoQ growth in Q1 FY26.

The brokerage said that the growth for the quick commerce sector was below 20% in Q1 FY26, implying that both Blinkit and Instamart gained market share.

This would also mean that Zepto likely lost market share during the June quarter. Notably, Zepto was said to be looking to reduce its cash burn and turn profitable as it gears up...