Market Overview:
Quick commerce provides on-demand grocery and household essential delivery within 30 minutes. This is beneficial for customers who need supplies in a rush but do not have time to visit stores.
Market key trends:
One of the key trends driving the Europe quick commerce market is the growing preference for online shopping among customers. With rising smartphone and internet penetration, customers especially millennials and Gen Z prefer online shopping over visiting stores. Quick commerce retailers are leveraging this trend by providing a seamless shopping experience on their mobile apps for ordering daily essentials in under 30 minutes. This on-demand delivery model is seeing increasing acceptance among time-pressed customers in Europe.
Here is the segment analysis and key takeaways for the given market details:
Segment Analysis
Quick commerce refers to on-demand grocery and essential goods delivery within a short period of 1 hour. The quick commerce market in Europe is dominated by the grocery & food segment, accounting for over 50% share. This is because grocery and essential food items form the core offerings of quick commerce players. Customers prefer ordering daily essentials like bread, milk, eggs through quick commerce platforms due to the convenience and speedy delivery within an hour.
Key Takeaways
The Europe Quick E-Commerce (Quick Commerce) Market is expected to witness high growth, exhibiting a CAGR of 38% over the forecast period 2023 to 2030, due to increasing demand for ultrafast delivery of daily essentials from busy consumers. By 2030, the market size is projected to reach US$ 122.7 Bn.
Western Europe dominates the quick commerce market in Europe with over 60% share, led by countries like Germany, UK, France and Spain. This is because of high smartphone and internet penetration coupled with increasing adoption of on-demand delivery models in these countries. Eastern Europe is expected to be the fastest growing region due to entry of global quick commerce players looking to expand operations.
Key players operating in the European quick commerce market are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, and Deliveroo. Among these, Getir, Gorillas and Gopuff dominate with largest market share due to their early mover advantage and extensive warehousing network across major cities.
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