The Zepto app is showing a three-day return or exchange window below selected products

The startup’s terms of use also mentions that customers can check the products upon delivery and initiate exchange or return with the requisite proofs on the platform, as available

“Now, return/exchange your Zepto orders in just 10 minutes,” the company said in a LinkedIn post

Quick commerce unicorn Zepto has rolled out 10-minute exchanges and returns for select product categories.

“Now, return/exchange your Zepto orders in just 10 minutes,” the company said in a LinkedIn post.

Zepto’s return service covers most of its categories, except stock keeping units (SKUs) for innerwear, disposables, utility items, among others.

“Returns are facilitated across most categories, with specific exceptions due to health, safety, or regulatory reasons. Non-returnable items include innerwear, gold and silver coins, accessories such as socks, pooja needs like dhoop, diya, and pooja cloth, disposables including tissues, and utility items like water filters,” said a company spokesperson.

The startup’s terms of use also mentions that customers can check the products upon delivery and initiate exchange or return with the requisite proofs on the platform, as available. For cash on delivery orders, Zepto will offer coupons or vouchers equivalent to the refund amount.

“Refunds are initiated immediately upon validation of returns, although the reflection time in a user’s account may vary based on bank processing times. For COD orders, we offer coupons or vouchers equivalent to the refund amount,” said Zepto.

However, Zepto is not the first quick commerce player to offer instant returns. Last year, rival Blinkit introduced a return option for categories like clothing and footwear in select cities like Delhi NCR, Mumbai, Bengaluru, Hyderabad and Pune.

Zepto’s move comes amid intensifying competition in the quick commerce space. While new entrant Flipkart Minutes has ramped up the heat by offering free deliveries, incumbents Blinkit and Swiggy Instamart are wooing customers with discounts and a wide portfolio of offerings.

That said, Zepto has launched the new offering as it is lining up plans to list on Indian bourses soon. Just days ago, the company’s chief financial officer (CFO) Ramesh Bafna said that the quick commerce unicorn has shifted its domicile to India from Singapore.

This follows reports that Zepto was looking to increase the size of its IPO to $1 Bn from the $800 Mn planned previously. The Aadit Palicha-led company is likely to file its draft IPO papers with market regulator SEBI by March-April.

On the financial front, 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 rising popularity of quick commerce. The unicorn also managed to trim its loss by a mere 2% to INR 1,248.64 Cr in the fiscal under review from INR 1,271.84 Cr in FY23.