Quick Commerce: Benefits, Statistics & Why Quick Commerce

Nowadays, Blinkit, Zepto, Dunzo, and Swiggy, have become household names. These are some of the leading platforms offering 10-20 minutes delivery to the customers. The conversion rate is staggering for quick commerce as compared to the other platforms.

In addition, various quick commerce platforms that offer 10-20 minute deliveries, are growing at a much faster rate than the ones delivering in a time period of four hours or longer.

However, you must be aware that the competition is very high. So if you’re new to this industry, then there are some essential factors that you must be aware of in this fast-developing sector.

Quick Commerce

What is Quick Commerce?

Quick commerce is also known as Q commerce or on-demand delivery. It means that the users can avail delivery of micro to smaller quantities of goods ranging from groceries, personal hygiene products, medicines, etc. in under one hour. However, some deliveries also guarantee a minimum delivery time of 15 minutes.

In addition, this concept is the amalgamation of traditional e-commerce and technological innovations in last-mile delivery.

This platform has seen a massive growth of customers ordering groceries online.

Why Quick Commerce?

E-commerce has seen a natural rise in demand over the period of the last few years. Customers want quick deliveries at the ease of their homes. Besides, most people became aware of online services during the pandemic. It offered comfort and convenience to the users. Therefore, quick commerce has seen an exponential rise each passing day.

Benefits of Quick Commerce

There are plenty of other benefits associated with it.

Such as, it has a positive sustainability impact as it lowers food waste. Moreover, it is highly advantageous for the local businesses because they get to reach a wide customer base.

Other than that, the prominent qualities such as speed and convenience make it a hit amongst the users. Here are some elaborated points:

1. Speed

Quick commerce platforms are able to deliver their goods to the customers quickly as compared to the retail providers.

The major reason behind this is the hyper-local micro fulfillment centers also known as the dark stores. These stores are located very densely in the city, usually within 3 km away from the customer’s destination. This implies that the order can be delivered approximately 25% faster than the delivery by retail shop owners.

In addition, the delivery guys are also dispersed in such a way that the shop’s destination and the customer’s destination are in close vicinity.

Therefore, fast deliveries are possible and this makes quick commerce a huge success.

2. Availability of relevant products

With the help of artificial intelligence and technologies, it is possible to monitor the needs and requirements of a customer and make those products available to them.

Software algorithms understand the requirement of the customer by following the patterns searched by the users frequently. Thereby, ensuring that the items are available accordingly.

This enhances the chances of a customer buying from such platforms where their requirements are fulfilled.

3. 24-hour service

The way retailers have a fixed time of operating their shops, none of this applies to the dark stores. They are operational 24 hours a day.

Now, this is an excellent way out to add convenience for the users in order to avail of products at any time of the day or night. Previously, it was difficult for the customers to fetch products in odd hours but now there is a solution to it and that is; quick commerce.

4. Convenience

Users feel convenient and simple to order via quick commerce platforms. Moreover, it avoids any hampering of your daily schedule. There is no need to get ready, take out time, and travel to a certain destination to buy goods and products.

It is now possible to make purchases with a few clicks sitting at the ease of your home.

Who doesn’t want it, right?

Moreover, ease is a very appealing and fundamental value proposition for Q commerce platforms that is enhancing the customer base for this sector.

Quick Commerce And E-Commerce

  • Quick commerce is a new kind of e-commerce. The fundamental difference between both these platforms is the time of delivery.
  • On one hand, where e-commerce is able to deliver within a few hours or days, quick commerce guarantees the delivery of goods in minutes.
  • Moreover, Q commerce platforms prefer using two-wheeler vehicles to deliver products for faster delivery. Whereas, traditional e-commerce uses large delivery vehicles for transportation.
  • In the case of quick commerce, people make decisions impulsively based on their immediate requirements whereas purchasing from e-commerce platforms is organized and requires planning due to the longer delivery services.

Interestingly there is a demographic gap between the two services. The young users always like to try new services, therefore, giving a boost to quick commerce platforms.

Top Five Quick Commerce Platforms In India

  1. Zepto
  2. Blinkit
  3. Dunzo Daily
  4. Swiggy Instamart
  5. Big Basket

Statistics of Quick Commerce in India

  • The market value of India’s quick commerce sector is expected to be $5 billion by 2025.
  • India stands at third position in the list of largest grocery markets in the world.
  • The expected growth rate in the coming five years of the queue commerce industry is 10 to 15 times.

Future of Quick Commerce

Technology is innovating day by day and is becoming a crucial part of everyone’s lives. Moreover, the world is getting digital and the dependency on applications is increasing tremendously. With the use of apps, people are dwelling in their comfort zone and are now habitual of ease and convenience. Due to this reason, quick commerce is here to stay!

However, it will be challenging for the retailers who are underprepared for this tremendous shift taking place. As some of them do not work as dark stores, neither do they stock products.

Furthermore, currently, most quick commerce companies aim to deliver groceries and some essential products. However, it is highly possible that this will turn into delivering all the products in some time.

Nonetheless, quick commerce is born through technology and time will tell if this turns out to be a massive shift in the dynamics of goods and products delivery or not!

People are also reading:

Leave a comment