Claim in the report: Quick commerce changed the way of shopping, market share increased five times in two years

New Delhi| Quick commerce companies that deliver goods in just a few minutes are bringing significant changes in the way consumers shop in the country. The quick commerce sector has acquired two-thirds share in all grocery orders received through electronic means last year. At the same time, 10th of the e-retail expenses also took place on the platform of the units associated with them. The special thing is that this sector provides employment to more than four lakh people.

Flipkart & Ben & Company report
In the case, according to the report of Flipkart and Ben & Co, the market share of the Quick Commerce sector increased five times in two years to reach $6-7 billion in 2024. The sector is expected to grow by more than 40 per cent annually by 2030. Its growth will be driven by expansion across various categories, geographies and customer segments. Every year two crore people shop through quick commerce platforms.

At the same time the report notes that the introduction of the facility to deliver products in less than 30 minutes has been one of the most important features of the country’s e-retail market in the last two years. The country’s quick commerce companies have moved forward rapidly, leaving behind global trends. The reason for the increase is the high population density and close access to a network of low-rent dark stores (retail stores that cater for online orders).

India is the second largest center of online shopping in the world
India has become a major hub in the retail sector in the last decade. The country has achieved the feat of becoming the third largest retail market globally in 2024. The GMV of the Indian e-retail market has reached $60 billion. The country has become the second largest center in the world in terms of online shopping. The e-retail segment could reach $170 to $190 billion GMV in the next six years, with growth of more than 18 per cent.

Consumers are getting better price offers
The quick commerce sector has attracted many companies and helped consumers make better value propositions. That means customers are now buying products from online forums by comparing prices. The facility of delivering goods quickly started with grocery goods. But, now 15-20 per cent of its Gross Commodity Value (GMV) comes from categories like general goods, mobile phones, electronics, apparel.

Small towns also gave impetus to expansion
Apart from metros, expansion into smaller cities has also accelerated the growth of the quick commerce sector. However, the bulk of GMVs still come from the top-6 metros. The report suggests that to move ahead with profits, quick commerce companies should adopt business models for markets other than major metros. Must manage increased competition and improve supply chains.