E-COMMERCE GETS SPEEDIER

India's quick commerce boom is set to hit ₹3.3 lakh crore by 2030, reshaping e-commerce with ultra-fast deliveries

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The retail and e-commerce landscape in India is undergoing a massive transformation. One of the most notable trends is the rapid rise of quick commerce, a sector set to redefine how consumers shop and receive their goods. This article digs into the various facets of quick commerce, exploring its growth trajectory, market potential, and the key factors driving its expansion.

WHAT IS QUICK COMMERCE?

Quick commerce, often referred to as Q-commerce, is a subset of e-commerce that focuses on ultra-fast delivery of goods, typically within 10 to 30 minutes. Unlike traditional e-commerce, which may take days to deliver, quick commerce emphasizes on speed and convenience, catering to the immediate needs of consumers. This model is particularly popular for essential items such as groceries, personal care products, and over-the-counter medicines.

MARKET GROWTH PROJECTIONS

India’s quick commerce market is on a remarkable growth trajectory. In 2023, the market was valued at ₹25,000 crore and is projected to soar to ₹3.3 lakh crore by 2030. This exponential growth underscores the increasing consumer demand for rapid delivery services and the expanding reach of quick commerce platforms.

Several factors are driving this growth. Firstly, the increasing penetration of smartphones and internet connectivity has made it easier for consumers to access quick commerce platforms.

According to the Telecom Regulatory Authority of India (TRAI), India had over 1.2 billion mobile phone subscribers and 825 million internet users in 2023. This widespread connectivity has created a fertile ground for the growth of digital commerce.