Bengaluru, June 15 -- Zepto's investor roadshow highlights improved marketing efficiency, while its updated draft red herring prospectus shows that new user additions fell by nearly two-thirds in 2025-26, suggesting the next phase of quick commerce may hinge more on deepening engagement with existing users.

In the presentation seen by Mint, the company says its digital marketing cost per order fell to Rs.1 in the March quarter of fiscal year 2026 (FY26) from Rs.10.8 in the first quarter of 2023-24, while weekly transacting users (WTU) rose to 9.2 million by the end of FY26.

While there aren't comparable WTU-style user-base metrics for other platforms such as Eternal-owned Blinkit and Swiggy Instamart, a Bernstein Research report cited b...