Agentic AI could reshape online shopping; Elara flags risk for Blinkit, Instamart

“The key risk for Blinkit and Instamart, therefore, is not loss of fulfilment demand, but erosion of customer interface and first point of discovery,” Elara said.The rapid evolution of autonomous artificial intelligence (AI) is poised to shake up digital retail, with quick commerce platforms facing the steepest risks to their customer discovery and high-margin advertising pools, according to a latest report by Elara Securities.The brokerage noted that the disruption is already unfolding globally following Meta’s September launch of Muse in the United States, a personalised AI agent designed to browse, compare, and execute purchases on a user’s behalf.While Amazon moved to block the tool citing authorisation and security concerns, Shopify partnered with Meta to enable agentic checkouts.

India’s e-retail advertising market reached ₹17,600 crore in calendar year 2025, surging 56 per cent year-on-year to capture roughly 25 per cent of total digital ad expenditure, according to Dentsu data cited in the report.Elara’s sensitivity analysis showed that even a 15 per cent drop in Blinkit’s grocery ad revenue would reduce parent Eternal’s FY29 estimated consolidated EBITDA by approximately 5 per cent, assuming ad income drives 90 per cent of Blinkit’s operating profit and grocery accounts for 60 to 70 per cent of gross merchandise value.Disclaimer: This article has been written by the author, who is not a SEBI-registered research analyst or investment adviser.

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