GLOBAL QUICK COMMERCE MARKET
Quick Commerce is a one-of-a-kind conceptual model in which products or services are delivered in under 10-30 minutes after purchasing. It concentrates on smaller amounts of limited commodities, such as food, stationery, personal care items, and over-the-counter medications.
Because of the COVID-19 epidemic, the distribution system was disrupted, resulting in the creation of rapid commercial activity, a specific business structure wherein the goods and services are delivered within 10-30 minutes of ordering.
Quick business is synonymous with on-demand delivery and e-grocery, and Their concentration of internet merchants has changed away from conventional well-stocked, huge warehouses.
Online consumers’ attention has switched from typical well-stocked, huge warehousing just on periphery of towns and cities to micro-warehouses close to the point of distribution. Conventional e-commerce transformed the transportation environment with online purchases; however shipping rates still range approximately 3-5 working days, and bigger transactions are recommended.
Q-commerce enables buyers to receive little volumes of things virtually instantaneously, whenever and wherever they want products. These segments already deliver household products to clients’ homes in under 30 minutes, and that in many cases significantly faster.
Usually delivery dates range from a few hours to several days. In the case of Q-commerce, corporations often construct ‘black shops’ that offer roughly 2000 critical products such as food, over-the-counter medications, and other everyday essentials for clients focused in the leading 15-20 cities.
GLOBAL QUICK COMMERCE MARKET DEVELOPMENTS AND INNOVATIONS
|S No||Overview of Development||Development Detailing||Region of Development||Possible Future Outcomes|
|1||Reliance Retail picks 25.8% stake in Dunzo||Reliance Retail has bought a 25.8 per cent stake in Dunzo, India’s leading quick commerce player, for $200 million (around Rs 1,488 crore) as it looks to expand its presence in online grocery delivery business.||Global Scale||This would enhance better Technologies and production|
Before its official launch, when customers are anticipated to begin ordering things online for quick delivery, Veppy.com, the first Quick-Commerce marketplace startup in the United Arab Emirates, welcomes suppliers and sellers to register their businesses and list their products online.
Veppy.com aims to provide customers with a highly personalized shopping experience by making appropriate product suggestions and product recommendations based on the customer’s preferences.
Thailand’s first rapid commerce company is launched by Apricot! For clients in Wattana, Bangkok who are short on time, the Apricot Groceries App offers over 2,000 products, including fresh groceries, frozen treats, and everyday necessities, delivered to your door in as little as 15 minutes.
They have aggressive expansion plans that call for them to immediately scale Bangkok, then spread across Thailand, and finally take over South East Asia.
Because it guarantees 100% full orders with a freshness guarantee, at supermarket rates, and delivered promptly, the Apricot Groceries App stands apart from other grocery delivery providers in the market.
With the recent launch of Jumia Food Mart in Nigeria, Africa’s e-commerce behemoth Jumia has joined the ranks of q-commerce operators. Jumia Food Mart is a q-commerce store created to meet Nigeria’s growing demand for fast delivery services. In accordance with global q-commerce practices, Jumia has set a maximum delivery time of 20 minutes for all orders processed on its new platform.
Jumia Food Mart will be available in five Lagos locations, including Opebi, Alausa, Lekki, Ikoyi, and Victoria Island. At this stage, customers will be able to get free delivery on up to 4,000 popular items and FMCGs from leading local and global brands.
BigBasket, India’s largest online grocer owned by Tata Group, has announced the launch of BBnow, which will provide 10 to 20-minute deliveries of over 3,000 products. They have the firepower to keep the business running and weather the storm.
Warpli, a startup based in Gurugram, promises to deliver fashion, beauty, electronics, and home furnishings in under 30 minutes.
To achieve this expansion, “dark stores” are sprouting up in major Latin American cities. These are grocery storage facilities that are not open to the public and are only used to fulfil grocery deliveries. Rappi established dark stores, which enabled them to launch their Rappi Turbo service, which allowed them to deliver orders quickly. Rappi currently operates over 330 dark stores in over 25 cities in Latin America.
GLOBAL QUICK COMMERCE MARKET DYNAMICS
|1||Dec 2021||Walmart||Walmart and drone delivery company Zipline are launching a delivery service in Pea Ridge, Arkansas — the first commercial drone delivery service offered by Zipline in the US.|
|2||November 2021||Buyk||Buyk, a 15-minute grocery delivery service, has set its sights on differentiating itself in the next years through its industry experience, which will allow the company to develop more swiftly and successfully.|
|4||November 2021||Getir||Turkish ultrafast delivery firm Getir has made its U.S. debut in Chicago, with plans to expand to the New York and Boston metropolitan regions by the end of 2021.|
|1||December 2021||Delivery Hero||Delivery Hero signed an agreement with Glovo shareholders in order to reach a majority stake in Glovo.|
|2||October 2021||Delivery Hero||Foodpanda, which is a subsidiary of Delivery Hero, has expanded its operations in Bratislava thereby strengthening its position in Europe.|
|3||May 2021||Gopuff||Gopuff partnered with Uber in order to bring essential products to Uber Eats.|
Through Q-commerce, this topic of the sustainability of specialized marketplace businesses has been addressed once more. Economies of scale and micro customization would indeed be possible with the assistance of a digital platform as well as sophisticated AI solutions. This concept, nevertheless, would only operate in places with a high density of individuals who are mostly prepared to pay for the service for urgent and crucial last-minute unanticipated requirements.
A few competitors may be able to develop lucrative business strategies. Aside from large funds, the secret to Quick Commerce’s achievement has always been the ongoing expansion of technological abilities as well as the capacity to adjust quickly on the foundation of profound insights into consumer behaviors.
It is unlikely to disrupt either as the local retailers or the existing e-commerce operator in their specialized microbusiness. Remarkable collaborations involving localized retailers and Q commerce firms are going to emerge. Also there is the possibility of providing dependable services such as plumbing, repair services, and so forth.
India, which now has revolutionized the food service industry with pioneering models such as Swiggy and Zomato, offers a big edge in terms of the exploding population necessary for such a Q-commerce strategic plan.
It offers businesses a new value proposition that can help companies stand out from the competition. Consumers that want rapid delivery might well be prepared to explore new goods and purchase from unfamiliar retailers.
The increased simplicity of fast transactions allows online shops to engage with huge global platforms such as Amazon as well as brick-and-mortar establishments.
Although q-commerce is linked with a restricted product range, businesses can leverage this opportunity to drive sales for their most profitable categories. As a result, India has indeed paved the charge by refining the Q-commerce strategy thus, upon that foundation of rich insights into consumer purchase habits, creating enormous job prospects in the delivery ecosystem.
With a goal to create an end-to-end eGrocery platform in the Philippines, SariSuki, a rapidly growing social commerce firm, is moving into quick commerce. With the introduction of this new service, SariSuki is now able to increase value for producers at source and to provide consumers with extreme convenience.
Following a large round of fundraising, which also included participation from Openspace, Susquehanna International Group (SIG), Global Founders Capital (GFC), Saison Capital, JG Digital Equity Ventures, and Foxmont Capital Partners, this expansion was announced.
GLOBAL QUICK COMMERCE MARKET SEGMENTATION
The Global Quick Commerce Market can be segmented into following categories for further analysis.
- E Commerce Application
- Food Servicing Application
- Restaurant Delivery Application
- Mechanized Servicing Application
- Product Delivery Application
By Product Type
- Fruits and Vegetables
- Electronics Items
- Electrical and Appliances
- Repairs and Servicing – Automotive
- Clothing and Merchandise
- Daily Necessities Sector
By Technology Focus Type
- Application based Operations
- Website based Operations
- Hybrid Operations
By Regional Classification
- Asia Pacific Region – APAC
- Middle East and Gulf Region
- Africa Region
- North America Region
- Europe Region
- Latin America and Caribbean Region
GLOBAL QUICK COMMERCE MARKET NEW ACQUISITION
The acquisition of Cajoo, a pioneer in rapid commerce in France, by Flink SE, the leading quick commerce firm in Europe, will help it expand quickly in that region and further solidify its position as the market leader in Europe.
Carrefour, an early investor and Cajoo’s sole retail partner, will collaborate with Flink exclusively in France and become a direct shareholder in the business. Since its operational launch, Flink has experienced remarkable growth, and the company is now taking the next step to solidify its position in the French market.
Following the merging of the current Cajoo-managed hubs, Flink will begin serving the greater Paris region and the eight following major cities with 30 hubs, reaching millions of clients and providing grocery delivery within minutes. At the same time, the national and international organisations of Flink and the Cajoo team will be combined.
As of Q2, when the brand will change, Flink will be the dominant brand among customers. With this operation, Carrefour has a one-of-a-kind chance to grow faster in the quickly expanding quick-commerce industry and see significant gains for its French e-commerce.
The French retail company will acquire stock in Flink. By providing a sizable portion of its selection, which includes private labels, organic, and exclusive products, Carrefour will also expand its exclusive grocery collaboration in quick-commerce in France from Cajoo to Flink.
Carrefour will also employ Flink capabilities and hubs’ network to accelerate its own rapid commerce service, branded Carrefour Sprint.
RECENT TECHNOLOGICAL TRENDS IN GLOBAL QUICK COMMERCE MARKET
|1||January 2022||Reliance||Reliance entered the quick commerce market with an investment of $240 million and acquired 25.8% of stake in Dunzo which is a Bengaluru-based startup company.|
|2||December 2021||Zepto||The ten-minute grocery delivery Zepto is a quick commerce start-up company and raised $100 million in a Series C round.|
|3||December 2021||Careem||Careem has entered quick commerce with the launch of Careem Quik in the UAE which is a quick-commerce e-grocery service.|
|4||December 2021||Delivery Hero||Delivery Hero is a world’s leading local delivery platform that has driven into quick commerce thereby expanding its Logistics-as-a-Service(LaaS) over 25 markets.|
|5||December 2021||Grofers||Grofers is an online grocery delivery platform that has rebranded itself as Blinkit in order to concentrate on a quick commerce platform.|
|6||October 2021||Delivery Hero||Delivery Hero invested $235 million in the Berlin-based on-demand grocery delivery company Gorillas in order to strengthen the quick commerce industry.|
|7||August 2021||Yemeksepeti||Yemeksepeti is a subsidiary of Delivery Hero in Turkey launched Mahalle which is a quick commerce platform and has completed acquiring Marketyo which is a online shop platform.|
Quick Commerce, as the name implies, is very much about expediency and quickness. It alludes to enterprises, typically centered on instant gratification consumables, that would provide virtually quick home delivery and are operated directly over the world wide web to give a fairly localized experience.
Quick Commerce is focused on an even more particular subset of goods about which immediate delivery makes perfect sense. As consumers’ expectations rise, rapid business could assist online retailers in meeting and exceeding requirements.
As a result, customer loyalty will increase. Customer pain points are the technological aspects of implementation that rapid ecommerce solves. The wallets have been part of the proper implementation strategy focused on electronic technology and digitized payment accelerations.
Digital wallets make the payment procedure easier. Internet services such as Apple Pay, PayPal, Stripe, and Google Wallet make electronic payments simple. Furthermore, digital wallets can be linked to the savings account. Such information, together with the driving license, Medicare card, and so on, can indeed be saved in the smartphone.
Furthermore, with the widespread use of NFC technologies, users may wirelessly connect to terminals for in-store payments using our smartphones. The customer inferences are to be recorded and understanded for better improved enhancements in the proper pool of commerce initialization. Recognizing clients’ interests and behavior is essential for effective customization.
Almost every internet user interaction is recorded and saved, resulting in a massive pool of information known as big data. Artificial intelligence (AI) and machine learning analytics drive client behavior patterns while also analyzing this information, providing organizations with such a loop of values and preferences, opening them unlimited possibilities.
|1||February 2022||Doordash||In a €7B all-stock transaction, the Finish technology company Wolt, known for its delivery platform, is acquired by DoorDash.|
|2||February 2022||Rabbit||Cairo-based 20-minute grocery delivery startup Rabbit has raised $11 million in the largest-ever pre-seed round of the Middle East and Africa, The investment came from Global Founders Capital, Foundation Ventures, Raed Ventures, MSA Captial, and Goodwater Capital. |
|Motatos raises €24m to expand its discount food waste deliveries to new markets. |
|1||H1-2021||Delivery Hero||The orders of Delivery Hero at the end of the first half of 2021 was €1.39 billion and in the previous year the order was €760.3 million.|
|2||October 2021||Delivery Hero||Delivery Hero completed the acquisition of Hugo’s core food delivery and quick commerce verticals in Central America and the Caribbean.|
|3||October 2021||Delivery Hero||Delivery Hero announced that they have acquired Hungry which is the Danish online food delivery marketplace.|
|4||August 2021||Gopuff||Gopuff signed an agreement to acquire Dija which is the leading European delivery platform providing consumer daily essentials in minutes.|
|5||June 2021||Gopuff||Gopuff signed an agreement in order to acquire rideOS which is a San Francisco based start-up and to accelerate the innovation in advanced delivery, routing and logistics.|
Quick commerce (Q-commerce), the logical progression of e-commerce, is quickly going to become the new key market towards becoming intensely competitive as businesses see its significance.
Grofers, a demand delivery service, has relaunched as Blinkit, a Q-commerce start-up. The sector’s popularity is now only expected to grow in the future.
Consumers in the post-pandemic period have indeed been seeking solutions that may satisfy their everyday demands in a fraction of the time which used to consume. As little more than a result, this specialized market has grown in popularity, and so has the demand for better service providers.
Swiggy is a leading developer and mobiliser of the quick commerce model in the global market. It has focused on varied categories of development which includes food, retail, and other servicing requirements in India. It has introduced a better mobilized search pattern focused on AI and Big data integrations.
This current search included numerous significant modifications, including the use of Protobuf for API responses, the disintegrating of a monolith View Model into numerous smaller and reusable View Models, widgetization of search list elements, the creation of a searching presentation layer, and much more. The backend is used to power the UI upon both home and search panels.
It may regulate the location each widget should be exhibited in through the backend. Each one of these items is indeed a Widgets. This method allows you to utilize the same widget on numerous screens.
For all of this, the contributors constructed a new Presentation Layer that communicates with the underlying systems, translates them onto widgets, and returns the results towards the consumers.
Flipkart is also a part of the actionable intelligence based technological integrations in the current global market alongside the major competitor on global scale i.e. Amazon.
The Actionable Insights Extraction from Reviews and Images is a large-scale effort aimed at increasing client satisfaction percentages in the Flipkart Private Label goods segment.
The essence of such study is determining what consumers want to do and developing design concepts that meet their expectations. The physical storage of data has surpassed 15 PB. FDP presently processes over 3 billion occurrences and units every day.
These corresponds to more than 30TB of data entering the data platform each day, requiring roughly 400 container hours of production time. It genuinely is a platform that manages at scale every second each and every day. Data processing fails when advanced interleaving methods are used, resulting in higher latencies and computation needs for repairs.
THIS REPORT WILL ANSWER FOLLOWING QUESTIONS
- How many Quick Commerce are manufactured per annum globally? Who are the sub-component suppliers in different regions?
- Cost breakup of a Global Quick Commerce and key vendor selection criteria
- Where is the Quick Commerce manufactured? What is the average margin per unit?
- Market share of Global Quick Commerce market manufacturers and their upcoming products
- Cost advantage for OEMs who manufacture Global Quick Commerce in-house
- 5 key predictions for next 5 years in Global Quick Commerce market
- Average B-2-B Quick Commerce price in all segments
- Latest trends in Quick Commerce market, by every market segment
- The market size (both volume and value) of the Quick Commerce market in 2023-2030 and every year in between?
- Production breakup of Quick Commerce market, by suppliers and their OEM relationship