by The US quick e-commerce market, also known as quick commerce, involves delivery of groceries and everyday essential items within a few minutes to an hour. Customers can order products through mobile apps for delivery within a very short span of time. Quick commerce aims to address the issue of low inventory and limited selection available at neighborhood stores by leveraging dark stores or micro-fulfillment centers located closer to residential areas. This enables last-mile delivery by companies within a compact radius.
The Us Quick Commerce Market Size Is Estimated To Be Valued At US$ 7.5 Bn In 2024 And Is Expected To Exhibit A CAGR Of 8.0% Over The Forecast Period 2024-2031.
Key Takeaways
Key players operating in the US quick e-commerce market are Gopuff, Doordash, Uber, Instacart, Postmates, Fridge No More, Buyk, Gorillas, Jokr, And Getir Among Others. These companies are investing heavily in expanding their micro-fulfillment infrastructure and delivery fleet to serve more customer locations. The convenience of quick delivery is appealing to many busy customers and driving the popularity of this service. With rapid scaling up of operations, quick commerce players see strong opportunities to capture greater market share in the US. Several companies are also looking at global expansion with quick commerce offering in countries across Europe and South America over the next five years.
Market Drivers
Convenient and fast delivery within 15-30 minutes is the key driver accelerating the growth of quick commerce in the US. Busy lifestyles leave little time for people to go to stores. Quick commerce fulfils the need of last-minute and urgent purchases without any wait. The market is also gaining traction as more people opt for contactless purchases during the pandemic. Growing smartphone penetration further boosts the accessibility of quick delivery apps.
Pest Analysis
Political: The quick commerce market in the US will be positively affected by government policies and regulations that support expanding digital infrastructure and services across the country. For example, subsidies to broadband service providers for network upgrades in rural areas.
Economic: Factors such as rising disposable incomes, high smartphone penetration, and growth of digital payments will drive the demand for quick commerce services in the US. Increased adoption of online shopping post-COVID will also support market growth.
Social: Younger demographic groups are more accepting of e-commerce and on-demand delivery models. Their adoption of quick commerce services for last-mile delivery of essential items will act as a strong social driver for the market.
Technological: Advancements in fulfilment technologies like artificial intelligence, predictive analytics, and cloud computing enable quick commerce players to optimize delivery operations, reduce delivery times, and offer a seamless shopping experience to customers. Growth of 5G networks will further enhance the customer experience.
The Western region, consisting of states like California, Washington, Oregon, holds the largest share of the quick commerce market in the US currently in terms of value. This is due to high urbanization, high disposable incomes, and widespread adoption of digital technologies in this region.
The South Central region, comprising states like Texas, Arizona, New Mexico, and Oklahoma is projected to be the fastest growing region for the quick commerce market during the forecast period. This can be attributed to rapid digitization of commerce, expanding warehousing facilities of major players and economic growth in the major cities of this region.
What are the key data covered in this US Quick E-Commerce Market report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the US Quick E-Commerce Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the US Quick E-Commerce Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- US Quick E-Commerce Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of US Quick E-Commerce Market vendors
FAQ’s
Q.1 What are the main factors influencing the US Quick E-Commerce market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top US Quick E-Commerce Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the US Quick E-Commerce market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
