The Global Quick Commerce Market Size is predicted to reach USD 467.9 Billion by 2032 from USD 67.2 Billion in 2022, at a CAGR of 21.7% between 2023 and 2032, as per the Acumen Research and Consulting
Quick commerce, or "q-commerce," has witnessed remarkable growth in recent years, aligning with the evolving lifestyles and preferences of consumers. Fueled by the rapid pace of urbanization, the rise of on-demand services, and the increasing reliance on digital technologies, q-commerce caters to the demand for instant gratification in today's fast-paced world. Consumers, accustomed to the convenience of online shopping and same-day delivery, are embracing the idea of getting essential items delivered to their doorstep within a matter of hours, if not minutes.
The transformation in consumer behavior, particularly accelerated by the global events of the past few years, has heightened the demand for quick and efficient delivery services. Whether it's groceries, prepared meals, or everyday essentials, the emphasis on speed and convenience has become a defining factor in the success of Q-commerce platforms. The integration of advanced logistics technologies, such as real-time tracking and automated fulfillment centers, further contributes to the seamless and rapid delivery experience, creating a symbiotic relationship between changing lifestyles and the growth of quick commerce. As urban dwellers increasingly prioritize time-saving solutions, q-commerce is positioned to continue its upward trajectory, reshaping the retail landscape to better suit the demands of the modern consumer.
Quick Commerce Market Statistics
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Quick Commerce Market Trends
the quick commerce (q-commerce) market has been experiencing robust growth, driven by changing consumer habits, technological advancements, and an increasing demand for instant and convenient delivery services. The global pandemic, which accelerated the adoption of online shopping and home delivery, further fueled the expansion of the q-commerce sector. The market has seen significant investments from both established players and new entrants, reflecting the growing recognition of its potential.
Q-commerce's growth is propelled by the rapid expansion of urban populations, where time-pressed consumers seek efficient solutions for their daily needs. The market encompasses a wide range of products, including groceries, meals, pharmaceuticals, and various everyday essentials. Companies specializing in q-commerce leverage advanced technologies, such as data analytics, artificial intelligence, and robotics, to optimize logistics and streamline the fulfillment process. These innovations contribute to faster delivery times and improved overall customer experiences.
Furthermore, the q-commerce market has witnessed increased competition, with traditional retailers, tech giants, and startups entering the space. This competitive landscape fosters innovation and encourages companies to differentiate themselves through service quality, product variety, and delivery speed. As the market matures, it is likely to witness further consolidation and partnerships, with companies aiming to establish themselves as leaders in this burgeoning sector.
Quick Commerce Market Segmentation
Acumen Research and Consulting has segmented the global Quick Commerce Market by product, payment mode, technology, and region.
Quick Commerce Market Regional Overview
According to the quick commerce industry analysis, the Asia-Pacific region has emerged as a dynamic and rapidly growing market for quick commerce (q-commerce), driven by a combination of technological innovation, urbanization, and shifting consumer habits. With a large and increasingly affluent population, countries in the Asia-Pacific region are experiencing a surge in demand for on-demand delivery services that offer speed and convenience. The region's diverse and competitive landscape has given rise to a multitude of q-commerce platforms, ranging from grocery delivery to on-the-go meals, meeting the diverse needs of consumers across various markets. One key factor contributing to the growth of q-commerce in Asia-Pacific is the widespread adoption of mobile technology and digital payment systems. With a significant portion of the population accessing the internet through smartphones, consumers have become more comfortable with online transactions, further fueling the expansion of q-commerce platforms.
Quick Commerce Market Players
Some of the prominent Quick Commerce Market companies are Swiggy, Blink Commerce Private Limited, Dunzo, Supermarket Grocery Supplies Pvt Ltd (Big Basket), Flink, KiranaKart Technologies Private Limited (Zepto), Quickcommerce Ltd., Zapp, Delivery Hero, Rappi, MaplebearInc.(Instacart), and foodpanda.
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Mr. Frank Wilson
Acumen Research and Consulting