Market Overview:
Quick e-commerce or quick commerce involves delivering goods and services to customers within a few minutes. Essentially a hyperlocal on-demand delivery model, quick commerce offers everyday essentials like groceries, FMCG items and prepared meals. With rising smartphone and internet penetration, customers prefer quick delivery of products through mobile apps for their daily needs.
Market Dynamics:
Increasing preference for instant gratification among consumers is a key driver boosting the Europe quick e-commerce market. Customers, especially millennials and Gen Z, want everything fast and rely on quick commerce platforms to fulfill their everyday requirements promptly. Moreover, proliferation of smartphones and high-speed internet has made online shopping and on-demand delivery seamless. This has further spurred the adoption of quick commerce model in the region. Also, flexible delivery slots and affordable prices compared to traditional retail channels are prompting more customers to use quick commerce platforms on a regular basis.
Market key trends:
The growing trend of quick delivery services in the European quick e-commerce market is driven by factors like changing consumer behavior and expansion of online grocery shopping services. Customers nowadays demand instant gratification and value convenience over other factors. Quick delivery services offering delivery within 30 minutes have gained immense popularity. They often leverage latest technologies like artificial intelligence, analytics and cloud computing to ensure efficiency.
SWOT Analysis:
Strength: The quick delivery model offers unmatched convenience to customers with delivery within 30 minutes.
Weakness: Dependence on complex logistics network and higher costs involved in quick delivery model.
Opportunity: Untapped rural markets provide scope for expansion of quick commerce services.
Threats: Entry of new players increases competition and pricing pressures in the market.
Key Takeaways:
The global Europe Quick E-Commerce (Quick Commerce) Market Size Share is expected to witness high growth, exhibiting CAGR of 38.5% over the forecast period, due to increasing adoption of online grocery shopping among consumers who are opting for quick delivery options.
Regional analysis:
Regionally, Western Europe dominates the Europe quick commerce market and is expected to continue its dominance over the forecast period. Countries like UK, Germany, France dominate the regional market. This is attributed to high internet penetration, growing use of digital platforms for shopping and availability of advanced logistics infrastructure to support quick deliveries.
Key players:
Key players operating in the Europe quick commerce market are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, Deliveroo. Companies are focusing on expansion to new locations and enhancing delivery options to gain market share in the competitive landscape.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it