Q-commerce, also referred to as quick commerce, is a type of e-commerce where emphasis is on quick deliveries, typically in less than an hour.[1] Q-commerce originally started with food delivery and it still represents the largest chunk of the business. It has quickly expanded to other categories particularly for grocery delivery, medicines, gifts, and apparel etc.[2] Since early 2020, the restrictions imposed due to COVID-19 pandemic gave a major boost to q-commerce as it allowed retailers to remain operational via quick home deliveries.[3] These prolonged restrictions resulted in long term consumer behavior shift towards quick deliveries, and established q-commerce as the third generation of commerce.[4]
The evolution of quick commerce started in 2011, with companies like Postmates, but only started to gain scale and traction around 2017 as companies like Delivery Hero and Meituan expanded into the area.[5]
Initially, delivery time hovered around 60 minutes but by 2019 several companies started local warehouse concepts (cloud stores or dark stores) to drive speed down towards 20 minutes.[6]
Global Trendsedit
The rapidly growing category offers a large selection of products at any time of day and in particular targets single-person households.[7] It is currently estimated that the Q Commerce market is $300Mn and is expected to grow 10 to 15 times over the next five years to touch $5 Billion.[8]
Referencesedit
^"From e-commerce to q-commerce: The rise of the 30 minutes or less delivery". The National. 2021-01-31. Retrieved 2021-04-15.
^"'Q' is fastest growing category in UAE's e-commerce as delivery speed matters". gulfnews.com. Retrieved 2021-04-15.
^Keane, Jonathan. "Glovo Enters The Q-Commerce Race As On-Demand Delivery Market Intensifies". Forbes. Retrieved 2021-04-15.
^"Glovo enters EUR 100M strategic partnership with Stoneweg to expand Q-Commerce". Business Review (in Romanian). 2021-01-20. Retrieved 2021-04-15.
^"QUICK COMMERCE – THE NEXT GENERATION OF E-COMMERCE". 2020-04-28.
^LogiBee. "5 Steps Towards Launching a Successful Q Commerce Business in 2022". logibee.ai. Retrieved 2022-09-17.
May 03, 2024
commerce, also, referred, quick, commerce, type, commerce, where, emphasis, quick, deliveries, typically, less, than, hour, originally, started, with, food, delivery, still, represents, largest, chunk, business, quickly, expanded, other, categories, particular. Q commerce also referred to as quick commerce is a type of e commerce where emphasis is on quick deliveries typically in less than an hour 1 Q commerce originally started with food delivery and it still represents the largest chunk of the business It has quickly expanded to other categories particularly for grocery delivery medicines gifts and apparel etc 2 Since early 2020 the restrictions imposed due to COVID 19 pandemic gave a major boost to q commerce as it allowed retailers to remain operational via quick home deliveries 3 These prolonged restrictions resulted in long term consumer behavior shift towards quick deliveries and established q commerce as the third generation of commerce 4 Companies in q commerce include Meituan Gojek Grab Delivery Hero Glovo Blinkit Rappi GoPuff Instacart and Postmates History editThe evolution of quick commerce started in 2011 with companies like Postmates but only started to gain scale and traction around 2017 as companies like Delivery Hero and Meituan expanded into the area 5 Initially delivery time hovered around 60 minutes but by 2019 several companies started local warehouse concepts cloud stores or dark stores to drive speed down towards 20 minutes 6 Global Trends editThe rapidly growing category offers a large selection of products at any time of day and in particular targets single person households 7 It is currently estimated that the Q Commerce market is 300Mn and is expected to grow 10 to 15 times over the next five years to touch 5 Billion 8 References edit From e commerce to q commerce The rise of the 30 minutes or less delivery The National 2021 01 31 Retrieved 2021 04 15 Q is fastest growing category in UAE s e commerce as delivery speed matters gulfnews com Retrieved 2021 04 15 Keane Jonathan Glovo Enters The Q Commerce Race As On Demand Delivery Market Intensifies Forbes Retrieved 2021 04 15 Glovo enters EUR 100M strategic partnership with Stoneweg to expand Q Commerce Business Review in Romanian 2021 01 20 Retrieved 2021 04 15 Sigrid Dalberg Krajewski from Delivery Hero discusses quick commerce dmexco 2021 01 09 Retrieved 2021 04 22 Talabat continues q commerce strategy with cloud kitchens Caterer Middle East 2020 11 30 Retrieved 2021 04 22 QUICK COMMERCE THE NEXT GENERATION OF E COMMERCE 2020 04 28 LogiBee 5 Steps Towards Launching a Successful Q Commerce Business in 2022 logibee ai Retrieved 2022 09 17 Retrieved from https en wikipedia org w index php title Q commerce amp oldid 1216663863, wikipedia, wiki, book, books, library,
