Table of Contents
After several quarters of strong gains through FY24 and early FY25, Blinkit’s Average Net Order Value (NAOV) per day per store has begun to stabilize.
The metric climbed from ₹544K in 1QFY24 to ₹789K in 1QFY25 - a 45% YoY surge - but growth has since cooled, settling between ₹730K and ₹770K through FY26.
This reflects the transition from a phase of hyper-growth and category expansion to one of efficiency and operational optimization.
What It Means
- Growth Moderation: NAOV growth has tapered from 45% YoY in early FY25 to slight declines in FY26 (–7% in 1QFY26 and –2.3% in 2QFY26).
- Shift in Strategy: Blinkit’s earlier jump was driven by wider product categories — beauty, gifting, and electronics — and higher order frequency. The current flattening suggests the company is now focused on balancing growth with unit economics.
- Discount Rationalization: As the Net Order Value (NOV) equals GOV minus all discounts (funded by brands, sellers, platform, banks, and others), a pullback in promotional intensity or lower-value city expansion may be weighing on the average.
- Operational Maturity: The stabilization also signals that Blinkit’s network is reaching scale — with new stores adding volume but not necessarily increasing per-store order value proportionately.
