Spencer’s Retail, part of the RP Sanjiv Goenka (RPSG) Group, has launched its quick commerce service, Jiffy, marking its entrance into the fast-growing sector of delivering products within minutes. The service, which will first roll out in Kolkata, plans to extend its reach to other regions of West Bengal before expanding to Uttar Pradesh (UP), where the retailer currently operates 89 stores.
Under the Jiffy brand, Spencer’s is reintroducing its app, enabling customers to order a variety of products with a promise of delivery within just 30 minutes. The goal, according to Shashwat Goenka, Chairman of Spencer’s Retail, is to further enhance the speed, aiming to fulfill most orders in a window of 20-30 minutes. The company is choosing to streamline its delivery operations without investing in a new dark store network. Instead, it plans to rely on third-party fleet operators to manage logistics and ensure timely deliveries.
In the third quarter of FY25, Spencer’s Retail reported a slight reduction in its net loss, which narrowed to Rs 47.34 crore from Rs 51.20 crore. However, the company also faced a 21% dip in revenue year-on-year, which dropped to Rs 516.97 crore, primarily attributed to store closures.
Spencer’s foray into the quick commerce space comes at a time when competition is heating up. Blinkit, Zepto, and Instamart currently dominate the market, while major players like Flipkart, BigBasket, and Amazon continue to expand their reach. Additionally, PhonePe, backed by Walmart, has also announced its entry into the sector with its Pincode initiative.
With its established presence in West Bengal and UP, Spencer’s Retail is looking to tap into the burgeoning quick commerce market, leveraging its existing infrastructure to compete in the fast-paced world of rapid delivery services.
