by The India quick e-commerce market has experienced rapid growth over the past couple of years driven by the increasing demand for fast delivery of products from online retailers. Quick commerce allows consumers to order a variety of products including groceries, fresh produce, snacks and daily essentials which are then delivered within a few minutes. This business model has gained significant popularity as it provides unprecedented convenience to time-pressed customers. Several quick commerce startups have emerged and raised large funding rounds to build hyperlocal fulfilment centers in major cities that help deliver products within 10-30 minutes.
The global India Quick E-commerce Market was valued at US$ 652 million in 2023 and is expected to exhibit a CAGR of 63.% over the forecast period 2023 – 2030, as highlighted in a new report published by CoherentMI.
Market Key Trends:
One of the key trends in the India quick e-commerce market is the launch of hyperlocal delivery models. Several startups are experimenting with different hyperlocal delivery models including dark stores, micro-fulfilment centers and partnerships with local stores and kirana shops to provide delivery within 10-20 minutes. This helps optimize delivery costs and provide a seamless delivery experience to customers. While metro cities have witnessed significant growth, quick commerce startups are now focussing on expanding selection and presence in tier 2 and tier 3 cities by adopting an asset-light model to tap into the growing demand.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants in the India quick e-commerce market is moderate. Establishing quick delivery infrastructure requires large capital investments.
Bargaining power of buyers: The bargaining power of buyers is high in this market. Buyers can easily switch between brands considering quick delivery as the primary choice factor.
Bargaining power of suppliers: Supermarkets and local shops have low bargaining power as suppliers to quick e-commerce players due to the oligopolistic market structure and brands’ large volume requirements.
Threat of new substitutes: Threat from new substitutes is low as quick commerce offers unparalleled convenience through ultra-fast delivery in 15-30 minutes.
Competitive rivalry: Competition in the market is high among established players.
Key Takeaways:
The global India Quick E-Commerce Market Size is expected to witness high growth over the forecast period supported by increasing internet and smartphone penetration. Rapid delivery enables brands to capture more orders by satisfying instant consumer needs. The global India Quick E-commerce Market is estimated to be valued at US$ 652 million in 2023 and is expected to exhibit a CAGR of 63% over the forecast period 2023 – 2030.
Regional Analysis: The Western region dominates India’s quick commerce space in terms revenue share owing to higher disposable incomes and denser population in cities like Mumbai and Pune. However, Eastern regions are expected to observe highest growth in adoption over the coming years.
Key Players: Key players operating in the India quick e-commerce market are Blinkit, Swiggy Instamart, Zepto, Dunzo, BigBasket, Amazon Quick Commerce, Tata Neu Super App, JioMart, Flipkart Quick, Grofers. Dunzo offers hyperlocal delivery in 19 minutes while Zepto promises delivery in just 10 minutes. Blinkit leads the market with its portfolio strength and focus on 15-minute deliveries.
FAQ’s:
Q.1 What are the main factors influencing the India Quick E-Commerce Market ?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
*Note:
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
