So just wanted to get some sense, sir, let's say, because of this rainy season, has there been any sort of impact in this Q2 thing? And that is why you're calling out, let's say, the early part of the quarter was tapered. And despite you adding stores or adding distribution, you haven't seen performance to that extent. Because what is happening is the market always correlates individuals leaving at the top to the delivery of outcomes. And if that is, I'm just trying to get some sense on that.
Questions across 3 calls
Manish Poddar
Invesco
Grasim Industries Limited
ETERNAL LIMITED
Yeah. Hi. Thanks for taking my questions. And first of all, Akshant and team, I think, a great job in terms of executing on a lot of variables. As customers, we don't see the difference in terms of delivery when you would have migrated 80% or 90% of the system, I think. It's a great job on that front. I just have three questions. So, the first one is any idea you would have on the quick commerce side of the business? Let's say, how would your market share be versus let's say three or six months back on NOV basis, then versus now?
Okay, and my understanding was that there is marketing intensity given you said that on the earlier question that your M3 retentions are good on the quick commerce side. I thought the marketing intensity of peers is going down, so your marketing cost or this CAC should come down. But this is not seeming to be the case. So, what am I missing here?
Hi, and thanks for doing the call. I'm just trying to think about the losses and understand them in two areas, one in terms of competition and the other in terms of infrastructure setup. Would you say that, for this quarter or based on what you're witnessing now in January, the larger variable for loss increase going forward will primarily be the setup of infrastructure, particularly as you scale from 1,000 stores to 2,000 stores? Is that the right way to think about it? What I'm broadly trying to understand is whether, with all the interventions you plan to implement, is there a theoretical loss cap that you have in place to maintain a particular market share. I'm just trying to gauge that.
And would you say that the larger part of the losses or investments this quarter would be due to stores not reaching maturity, or would it be due to competition? If you had to estimate, would it be a 70-30 or 50-50 split? Any sense of that?