Quick e-commerce (quick commerce) allows customers to order and receive groceries and daily essentials within a few minutes of placing orders online. Quick commerce platforms have evolved to fulfill an increasing consumer demand for near-instant delivery services. Quick e-commerce relies on a dense network of micro-warehouses located in close proximity to customers, enabling delivery partners to deliver orders within 15-30 minutes on average.
The Europe Quick E-Commerce Market is estimated to be valued at US$ 4.85 billion in 2023 and is expected to exhibit a CAGR of 38% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The burgeoning demand for speedy delivery services is a major driver propelling the growth of the quick commerce market in Europe. Customers increasingly expect instant on-demand delivery, especially for their daily grocery and essential items. Quick commerce players are establishing micro-warehouses across major cities to reduce delivery time, meet customer expectations of rapid delivery, and gain a competitive edge over other e-commerce platforms. The dense network of micro-warehouses enables speedy delivery within 15-30 minutes on average, thus attracting more customers looking for immediate product access without having to step out. This trend is expected to significantly boost the Europe quick commerce market during the forecast period.
SWOT Analysis
Strength: Europe quick e-commerce market has witnessed exponential growth with rising adoption of on-demand delivery model. Consumers prefer quick commerce due to value offering of delivery within few minutes.
Weakness: High cost of operations due to short delivery timelines and need for dense micro-fulfillment centers poses challenges. Also, intense competition affects profitability of players.
Opportunity: Untapped rural markets provide scope for expansion. Personalized and customized offerings can boost customer loyalty.
Threats: Strict environmental regulations can increase operational costs. Shift to unorganized players may intensify price war.
Key Takeaways
The Europe Quick E-Commerce Market Size is expected to witness high growth over the forecast period.
Regional analysis: Germany dominates the region’s quick commerce market owing to strong consumer demand and presence of dominant players. UK holds significant share and is witnessing exponential growth in sales. Players are expanding operations aggressively in these countries.
Key players: Key players operating in the Europe quick e-commerce market are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, Deliveroo. Players have extensively invested in building micro-fulfillment centers, partnering with retailers and bolstering last mile delivery capabilities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.