by Quick commerce, also known as q-commerce or ultrafast delivery, involves delivering groceries and daily essential items to customers within one hour. This industry has gained prominence due to the convenience it offers to consumers who wish to receive their orders immediately. Quick commerce firms partner with local merchants and supermarkets to fulfill delivery orders placed via their mobile apps. Advantages include accessibility of a large catalog of products, contactless delivery, and seamless payment options. The growing preference for instant gratification and time-starved modern lifestyles have created an increasing need for quick commerce services.
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 2023-2031.
Key Takeaways
Key Players: Key players operating in the quick e-commerce market are GoPuff, DoorDash, Uber, Instacart, Postmates, Fridge No More, Buyk, Gorillas, Jokr, and Getir among others. These companies have expanded operations across major cities to cater to the rising demand.
Key Opportunities: Emerging markets, expanding product catalogs, and addition of new fulfillment centers present significant growth opportunities. Quick commerce firms are collaborating with local players to increase their geographic footprint.
Global Expansion: Leading quick commerce providers are focusing on international expansion plans by entering new markets in Europe, Asia, and Latin America. Partnerships with global investors are fueling the globalization of the quick e-commerce business model.
Market Drivers
Rising consumer demand for hyperlocal delivery is a key driver propelling the quick e-commerce industry. Time-pressed customers increasingly expect instant gratification and access to goods and services within minutes of ordering online. Rapid expansion of online shopping and preference for contactless delivery during the pandemic has further accelerated the adoption of quick commerce services globally.
Pest Analysis
Political: The US quick commerce market is affected by regulations around delivery services and retail operations within cities. Licensing requirements and restrictions on delivery windows can impact quick commerce businesses.
Economic: Consumers’ discretionary budgets and spending habits determine the demand for quick delivery services. A stronger economy with high consumer confidence would benefit this market.
Social: Younger demographics that value convenience strongly drive this market’s growth. Quick commerce addresses the need for instant, on-demand delivery of daily essentials and snacks.
Technological: Advanced logistics, AI-enabled inventory management and automated fulfillment enable delivery in less than 30 minutes. Apps and platforms power the entire customer experience from product discovery to delivery. Real-time order tracking builds trust.
Geographical Concentration
The US quick commerce market is currently concentrated in major metropolitan areas that offer high population density and logistical feasibility for ultra-fast deliveries. Over 60% of the total market value is accounted for by New York, Los Angeles, Chicago, Houston and Washington D.C based on the large customer bases in these cities.
Fastest Growing Region
The Western region of the US spanning California, Washington and Colorado has emerged as the fastest growing for the quick commerce market in terms value growth. Cities like Seattle, San Francisco and Denver that have a high proportion of tech-savvy millennial customers are seeing over 15% YoY growth in quick commerce adoption. The availability of local dark stores and eager investor funding for expansion have boosted this region’s market share.
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’s growth between 2024 and 2031.
:- Accurate calculation of the size of the US Quick E-Commerce and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- US Quick E-Commerce 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 vendors
FAQ’s
Q.1 What are the main factors influencing the US Quick E-Commerce?
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 companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the US Quick E-Commerce’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:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
