Q-Commerce is a delivery-on-demand business model. Q-Commerce combines the advantages of e-commerce with the traditional shopping experience, resulting in a business model that effectively satisfies rising customer demand by enabling online purchasing.
According to SPER market research, ‘India Quick Commerce Market Size- By Product Category, By Business Model, By Customer’s Gender, By Delivery Time, By Average Order Value - Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the India Quick Commerce Market is predicted to reach USD XX billion by 2032 with a CAGR of XX%.
Several major factors are driving the expansion of India's fast commerce business. For starters, the country's expanding digital penetration and smartphone usage have made it easier for customers to access rapid commerce platforms, fuelling demand for instant deliveries of crucial commodities. Second, changing consumer lives, urbanization, and the rise of dual-income homes have resulted in a time-conscious and convenience-seeking client base, which makes rapid commerce an appealing option.
However, there are several challenges in this industry. The heated competition between established e-commerce behemoths and up-and-coming startups has spawned a war for market supremacy. As a result, significant expenditures in marketing, technology, and logistics have been undertaken. Rapid commerce players confront challenges such as the need for a robust last-mile delivery infrastructure, addressing logistical challenges in congested urban areas, and effectively managing inventories.
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The global spread of the COVID-19 virus has altered people's attitudes on e-commerce and how they purchase goods and services. India has shifted toward e-commerce as a result of universal lockdown restrictions across the country and people's rising reluctance to walk outside and obtain necessities. Following the release of COVID-19, rapid commerce had steady growth and was incorporated into a fast-paced lifestyle. Following the outbreak, food and retail companies were said to be increasing their use of on-demand delivery services and digital offers.
Geographically, a regional study of India's quickly commerce sector finds a heterogeneous ecosystem with varying levels of adoption and growth potential. Rapid commerce has grown rapidly in large urban centers such as Mumbai, Delhi-NCR, Bengaluru, and Hyderabad. These urban areas have a large population density, a higher level of digital literacy, and a fast-paced lifestyle, making them excellent hotspots for speedy commerce services. In many places, competition among quick commerce firms is severe, leading in rapid innovation and service expansion. Additionally, some of the market key players are BB Now, Blinkit, Dunzo, Flipkart Quick, Ola Dash, Swiggy Instamart, Zepto.
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India Quick Commerce Market Revenue
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