Internet
India Quick E-Commerce (Quick Commerce) Market Size to Surpass US$ 19,932.5 Million by 2030 | Exhibiting a CAGR of 63%
The India Quick E-Commerce (Quick Commerce) Market is experiencing rapid growth primarily due to the rising internet penetration rate in the country. With the increasing availability and affordability of smartphones, there has been a significant increase in the number of internet users, particularly in rural areas. This has led to an upsurge in online shopping activities, creating a favorable environment for the quick e-commerce market in India . Additionally, the convenience offered by quick e-commerce platforms, such as fast delivery and easy return policies, has further fueled the market growth. Moreover, the COVID-19 pandemic has also played a significant role in accelerating the adoption of quick e-commerce in India , as consumers prefer contactless shopping and home delivery services.
One of the key trends observed in the India Quick E-Commerce (Quick Commerce) Market is the increased focus on hyperlocal delivery. With the aim to provide faster and more efficient delivery services, e-commerce platforms are partnering with local stores and vendors to establish a strong hyperlocal network. This enables them to deliver products to customers within a few hours, enhancing customer satisfaction and loyalty.
Another emerging trend in the India Quick E-Commerce (Quick Commerce) Market is the growing popularity of social commerce. Social media platforms, such as Instagram and Facebook, have become an integral part of people's lives, and businesses are leveraging these platforms to promote and sell their products. Quick e-commerce platforms are integrating social commerce features, such as buy buttons and shoppable posts, to enable users to purchase products directly from social media platforms, thus driving the market growth.
India Quick E-Commerce (Quick Commerce) Market, By Product Category, By Order Value, By Location, By Time-slot, By Payment Mode, and other Segment Forecast 2023-2030
The India Quick E-Commerce (Quick Commerce) Market is anticipated to witness a significant growth with a CAGR of 63% during the forecast period of 2023-2030. This rapid growth is primarily attributed to the increasing adoption of e-commerce platforms for quick and convenient shopping by consumers. As per market research, the market size is estimated to reach US$ 652 million in 2023. This emphasizes the immense potential for growth in the quick e-commerce sector in India .
The India Quick E-Commerce (Quick Commerce) Market offers a wide range of product categories catering to diverse consumer needs. The dominating product category is Fruits & Vegetables, followed by Snacks & Beverages, Dairy & Bakery, Staples & Cooking Essentials, Meat & Seafood, Personal care, and Others. This diverse range of product categories provides ample opportunities for retailers and allows them to cater to the evolving preferences and demands of consumers.
The order value segment in the India Quick E-Commerce (Quick Commerce) Market is categorized into Below INR 500, INR 500-1000, INR 1000-1500, and above 1500. Currently, the dominating order value segment is Below INR 500. This reflects the trend of Indian consumers preferring affordable and budget-friendly options for online purchases, leading to the dominance of lower order value segments in the market.
In conclusion, the India Quick E-Commerce (Quick Commerce) Market presents significant market opportunities with its growing market size and increasing CAGR. With diverse product categories, order values, and location preferences, the market offers immense potential for retailers and key players to tap into the evolving consumer demands. The dominance of metropolitan cities and the presence of key players further contribute to the growth of the India Quick E-Commerce (Quick Commerce) Market.
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