Global Quick E-Commerce (Quick Commerce) Market Owing To Growing Delivery Speed Requirement & Urbanization Trends
Global Quick E-Commerce (Quick Commerce) Market Owing To Growing Delivery Speed Requirement & Urbanization Trends
Global Quick E-Commerce (Quick Commerce) Market

The Global Quick E-Commerce (Quick Commerce) Market is estimated to be valued at US$ 38.89 Bn in 2023 and is expected to exhibit a CAGR of 34.1% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Quick commerce refers to high-speed delivery of groceries and daily essential items through a hyperlocal delivery model. Such services offer delivery within minutes from pick to delivery. This model has gained immense popularity as it provides convenience to customers for last-minute purchases and emergencies.

Market key trends:
One of the key trends fueling the growth of the global quick e-commerce market is the adoption of hyperlocal delivery model. This model involves storing inventory in local dark stores located within customers' vicinity, which enables delivery of products within 10-30 minutes. Leading quick commerce players like Gorillas, Getir, and Glovo are aggressively investing in expanding their hyperlocal dark store networks across major cities to offer fast and convenient delivery. The proliferation of hyperlocal delivery centers is expected to drive the quick commerce market growth over the forecast period.

Porter’s Analysis
Threat of new entrants: The quick-commerce market has low threat of new entrants due to high capital requirements for warehouses, fleets, and technology infrastructure. Bargaining power of buyers: Customers have moderate bargaining power as there are many established quick delivery players to choose from. Bargaining power of suppliers: Suppliers like merchants have moderate bargaining power due to dependence of quick commerce players on their inventory. Threat of new substitutes: Threat from substitutes is moderate as grocery delivery by regular e-commerce or offline stores is an alternative though with longer delivery times. Competitive rivalry: Intense competitive rivalry due to increased funding and many global and local quick commerce startups fighting for market share.

SWOT Analysis
Strengths: Quick fulfillment within 10-30 minutes of order placement. Large variety of products ranging from grocery, meals to other daily essentials. Real-time tracking of orders.
Weaknesses: High operational costs due to short delivery times. Reliance on third party fleets and delivery partners increases costs. Limited geographic scope of operations.
Opportunities: Untapped rural markets provide scope for expansion. Partnerships with retailers can unlock inventory quantities and quality. Expanding product categories can boost average order value.
Threats: Sustainability concerns around hyper-local model. Regulation around delivery infrastructure and labor practices. Supply chain disruptions and volatility in raw material costs.

Key Takeaways
The global Global Quick E-Commerce Market Growth is expected to witness high growth, exhibiting CAGR of 34.1% over the forecast period, due to increasing demand for hyperlocal deliveries amid Covid-19 pandemic. Quick commerce fulfills customer preference for instant deliveries without compromising on options.

Regional analysis: The Asia Pacific region dominated the global quick commerce market in 2023 and is expected to grow at the fastest pace during the forecast period. This can be attributed to large youth populations in densely populated countries like India and Indonesia that are frequent users of online grocery delivery.

Key players: Key players operating in the global Quick E-Commerce (Quick Commerce) market are GoPuff, DoorDash, Instacart, Uber, Glovo, Rappi, Gorillas, Getir, Jokr, Zapp, Flink, 1520, Buyk, Deliveroo, Seazon, Yango Deli, Delivery Club, Bolt Food, Swiggy Instamart, Blinkit. They have expanded to multiple cities and increased fulfillment timelines from initial 30 minutes to serve more customer demand.

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