New Delhi, Aug. 27 -- Quick commerce is rapidly expanding beyond India's major metropolitan markets, with dark stores now spread across 477 cities, as newer players target untapped geographies while established companies deepen their networks in key markets, according to a CLSA report.

The brokerage said the expansion is increasingly taking a measured approach in newer markets, with relatively smaller dark store networks being used to test local demand and unit economics before companies scale up.

"At the same time, emerging players are increasingly targeting geographies that remain underpenetrated by incumbents," the report further added.

CLSA said this could give newer entrants a "first-mover advantage" as quick commerce adoption exp...