The global quick e-commerce market, also termed as quick commerce, refers to the delivery of groceries and daily essential items to customers within a few minutes to a maximum of two hours. Quick commerce utilizes dark stores or micro-fulfillment centers located close to high-density customer locations for rapid order processing and delivery. Items are typically delivered through electric bikes, scooters, or autonomous vehicles. Quick commerce provides consumers the advantage of access to grocery essentials within a very short timeframe, without having to visit physical retail stores. The market has gained significance amidst the pandemic with growing demand for contactless delivery of goods.
The Global Quick E-Commerce Market is estimated to be valued at US$ 44.81 Bn in 2024 and is expected to exhibit a CAGR of 9.3% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the global Global Quick Commerce Market Growth are Shire Plc., CSL Limited, Octapharma AG, LFB S.A., Biotest AG, Grifols, S.A., SK Plasma Co., Ltd., Baxter International Inc., Green Cross Corporation, and Fusion Health Care Pvt. Ltd., among others. The growing demand for contactless delivery of daily essentials amidst the COVID-19 pandemic is driving the growth of the quick commerce market. Market players are expanding their quick commerce operations globally to capitalize on the massive opportunity.
Growing demand: The quick commerce market has witnessed a surge in demand since the outbreak of the COVID-19 pandemic as people increasingly opted for contactless delivery of daily essentials. The rising health awareness and preference for avoiding crowded areas has propelled the demand for quick delivery of goods through the e-commerce model.
Global expansion: Major players in the quick commerce space such as Gorillas, Jokr and Getir have been rapidly expanding their footprint globally. For instance, Gorillas operates in over 65 cities across 9 countries. Jokr recently raised $290 million to expand in Latin America. The massive opportunity has encouraged global expansion of quick commerce companies.
Market drivers
One of the major market drivers for quick commerce is the growing need for instant gratification and convenience among consumers. With fast-paced lifestyles, consumers expect accessibility and immediacy in fulfilling their needs. Quick commerce meets this need for instant delivery within a few minutes through a seamless and simplified experience, driving its popularity.
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