Zepto Introduces a 10-Minute Instant Return and Exchange Service

Zepto Introduces a 10-Minute Instant Return and Exchange Service
Zepto Launches 10-Minute Instant Return & Exchange Service

Quick commerce unicorn Zepto is now offering 10-minute returns and exchanges for certain product categories. The firm posted on LinkedIn, "Now, return or exchange your Zepto orders in just 10 minutes." The majority of Zepto's categories are covered by its return policy, with the exception of stock keeping units (SKUs) for items like utilities, disposables, and innerwear.

According to a company spokeswoman, returns are accepted in the majority of categories, with a few exceptions made for safety, health, or legal reasons. Innerwear, gold and silver coins, pooja necessities like dhoop, diya, and pooja cloth, accessories like socks, disposables like tissues, and practical items like water filters are all non-returnable.

More Details of the Newly Formed Zepto’s Return Policy

Customers can inspect the products upon arrival and initiate an exchange or refund with the necessary proofs on the platform, if accessible, according to the startup's terms of usage. Zepto will provide coupons or vouchers equal to the refund amount for items paid for with cash on delivery. "After returns are validated, refunds are started right away, though bank processing times may affect how long it takes for money to appear in a user's account. We provide coupons or vouchers equal to the return amount for COD orders," Zepto stated.

Zepto is not the first player in rapid commerce to provide instant rewards, though. Rival Blinkit launched a return policy for apparel and footwear last year in a few cities, including Hyderabad, Pune, Bengaluru, Mumbai, and Delhi NCR. Zepto's action coincides with growing rivalry in the fast commerce market. While incumbents Blinkit and Swiggy Instamart are attracting customers with discounts and a broad range of products, newcomer Flipkart Minutes has turned up the heat by offering free deliveries.

Recent Developments at Zepto

Nevertheless, Zepto has launched the new offering as it prepares to list on Indian bourses in the near future. A few days ago, the company's chief financial officer (CFO), Ramesh Bafna, announced that the unicorn of quick commerce had moved its headquarters from Singapore to India, reportedly seeking to increase the size of its initial public offering (IPO) from the $800 million previously planned to $1 billion.

The Aadit Palicha-led company is expected to file its draft IPO papers with market regulator SEBI by March or April. In terms of finances, Zepto's operating revenue more than doubled to INR 4,454.52 Cr in the fiscal year 2023-24 (FY24) from INR 2,025.70 Cr in the previous fiscal year, driven by the growing popularity of quick commerce. The unicorn also managed to reduce its loss by just 2% to INR 1,248.64 Cr in the fiscal year under review from INR 1,271.84 Cr in FY23.


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