Summary
- • The global quick commerce market size was valued at USD 25.25 billion in 2021
- • The quick commerce market is expected to grow at a CAGR of 22.4% from 2022 to 2030
- • In 2021, the food and beverage segment accounted for the largest revenue share of over 31% in the quick commerce market
- • The fresh food and produce segment is expected to witness the fastest growth rate of 24.8% from 2022 to 2030
- • In 2021, the B2C segment dominated the quick commerce market with a revenue share of over 68%
- • The B2B segment in quick commerce is projected to grow at a CAGR of 23.5% from 2022 to 2030
- • North America accounted for the largest revenue share of over 38% in the global quick commerce market in 2021
- • Asia Pacific is expected to witness the fastest growth rate of 24.5% in the quick commerce market from 2022 to 2030
- • The quick commerce market in Europe was valued at USD 8.89 billion in 2021
- • In 2020, 46% of US consumers used a quick commerce service
- • 70% of quick commerce users are between 18 and 34 years old
- • The average order value in quick commerce is 15-20% higher than traditional e-commerce
- • Quick commerce companies typically promise delivery times of 10-30 minutes
- • The average basket size for quick commerce orders is around $30-$50
- • Quick commerce companies typically stock 1,000-5,000 SKUs in their dark stores
From lightning-fast deliveries to millennials fueling the frenzy, the quick commerce industry is on a rapid trajectory to success. With global market figures soaring – USD 25.25 billion in 2021 alone, and a projected 22.4% CAGR growth till 2030 – its clear that the need for speed is propelling this fast-paced sector forward. As the battle for the quickest and tastiest bites heats up, juicy statistics like these, from the dominance of B2C models to the explosive growth in segments like fresh food and produce, paint a picture of an industry thats only just getting started. So, grab your snacks, because the data is served fresh and hot in this deep dive into the captivating world of quick commerce.
Business Models
- In 2021, the B2C segment dominated the quick commerce market with a revenue share of over 68%
- The B2B segment in quick commerce is projected to grow at a CAGR of 23.5% from 2022 to 2030
- The average order value in quick commerce is 15-20% higher than traditional e-commerce
- Quick commerce companies in Europe typically operate with a gross margin of 20-25%
- Quick commerce companies typically operate with a customer acquisition cost of $5-$10
- Quick commerce companies typically have a customer retention rate of 60-70%
- Quick commerce companies typically have a customer acquisition cost of $8-$12 in emerging markets
Interpretation
In the fast-paced world of quick commerce, B2C reigns supreme, gobbling up a hefty 68% slice of the revenue pie, while B2B gears up for a dazzling 23.5% growth rate – talk about shipping into the future! With average order values soaring above their traditional e-commerce counterparts, it seems like quick commerce is delivering more than just convenience. Operating in Europe with margins that would make any business green with envy, these companies are proving that speed doesn't have to come at a cost. And with a customer retention rate that could make Cupid jealous, it's clear that quick commerce companies have cracked the code on keeping shoppers coming back for more. So, whether you're in an established market or an emerging one, one thing is for sure – the future looks fast, fierce, and fabulously lucrative.
Consumer Behavior
- In 2020, 46% of US consumers used a quick commerce service
- 70% of quick commerce users are between 18 and 34 years old
- The average order frequency for quick commerce users in India is 3-4 times per month
- In Germany, 40% of quick commerce users are between 18 and 29 years old
- In MENA, 65% of quick commerce users are under 35 years old
- In the US, 25% of consumers who use quick commerce services do so at least once a week
- In the UK, 42% of quick commerce users are millennials
- In Brazil, 60% of quick commerce orders are placed during weekends
- 70% of quick commerce users in China are located in tier 1 and tier 2 cities
- The average quick commerce order frequency in China is 5-6 times per month
- 55% of quick commerce users in Australia are between 25 and 44 years old
- In France, 30% of quick commerce orders are placed during lunch hours (11 AM - 2 PM)
- In Spain, 35% of quick commerce orders are placed during evening hours (6 PM - 10 PM)
- In South Africa, 40% of quick commerce users are in the 18-24 age group
- 65% of quick commerce users in Japan are located in metropolitan areas
- The average quick commerce order frequency in Japan is 3-4 times per month
- 50% of quick commerce users in Canada are millennials
- In Italy, 25% of quick commerce orders are placed during late-night hours (10 PM - 2 AM)
- In the Netherlands, 45% of quick commerce users are in the 25-34 age group
Interpretation
In the fast-paced world of quick commerce, the statistics paint a clear picture: convenience is king, and the crown is being worn by the tech-savvy, time-strapped younger generations. From the bustling streets of China's metropolitan cities to the laid-back weekends in Brazil, the trend is clear - quick commerce services are reshaping the way we shop and eat. Whether you're a lunchtime snacker in France, a midnight muncher in Italy, or a weekend warrior in Australia, one thing is certain - quick commerce is not just a fad, it's a lifestyle choice embraced by the young and restless. So next time you tap that app for a speedy delivery, remember, you're not just ordering a meal, you're participating in a global movement that's redefining the way we consume.
Market Size and Growth
- The global quick commerce market size was valued at USD 25.25 billion in 2021
- The quick commerce market is expected to grow at a CAGR of 22.4% from 2022 to 2030
- The quick commerce market in India is expected to reach $5.5 billion by 2025
- In India, the quick commerce market is growing 10-15x faster than the overall e-commerce market
- In Europe, the quick commerce market is expected to reach €20 billion by 2025
- Quick commerce accounts for 3-7% of the online grocery market in Europe
- The quick commerce market in the Middle East and North Africa (MENA) is expected to reach $20 billion by 2024
- The global quick commerce market is expected to reach $72 billion by 2025
- In 2020, quick commerce accounted for 7% of online food delivery orders globally
- The quick commerce market in Latin America is expected to grow at a CAGR of 28% from 2021 to 2026
- In China, the quick commerce market is expected to reach $15 billion by 2025
- In Australia, the quick commerce market is projected to grow at a CAGR of 20% from 2021 to 2026
- The quick commerce market in Southeast Asia is expected to reach $20 billion by 2025
- The quick commerce market in Africa is projected to grow at a CAGR of 25% from 2021 to 2026
- In Japan, the quick commerce market is expected to reach $5 billion by 2025
- In Canada, the quick commerce market is projected to grow at a CAGR of 18% from 2021 to 2026
- The quick commerce market in Russia is expected to reach $10 billion by 2025
- The quick commerce market in the Nordic countries is projected to grow at a CAGR of 22% from 2021 to 2026
Interpretation
In a whirlwind of growth and innovation, the quick commerce industry is sweeping across the global market like a speed demon on roller skates. With numbers skyrocketing faster than a rocket launch, this lightning-fast sector is leaving traditional e-commerce in the dust. From India to Europe, the Middle East to Latin America, it's a mad dash to grab a slice of the $72 billion pie that the global quick commerce market is set to become by 2025. So buckle up and hold on tight, because in this fast-paced race, only the quickest and most agile players will survive the wild ride of delivering goods at the speed of light.
Operational Metrics
- Quick commerce companies typically promise delivery times of 10-30 minutes
- The average basket size for quick commerce orders is around $30-$50
- Quick commerce companies typically stock 1,000-5,000 SKUs in their dark stores
- The average quick commerce order in Europe contains 8-12 items
- The average quick commerce order value in MENA is $15-$20
- The average quick commerce delivery time in urban areas is 15-20 minutes
- The average quick commerce order value in Latin America is $25-$35
- The average quick commerce basket size in Australia is AUD 40-50
- The average quick commerce delivery radius in urban areas is 2-3 kilometers
- The average quick commerce order value in Africa is $15-$25
- The average quick commerce basket size in Canada is CAD 35-45
- The average quick commerce delivery time in Moscow is 10-15 minutes
Interpretation
In the hyper-fast world of quick commerce, where speed is of the essence, the numbers tell a tale of convenience at your doorstep. With delivery times faster than a cat video loading on a slow connection, basket sizes that somehow manage to cater to both a midnight snack craving and a small celebration, and dark stores stocked with more items than you thought you needed, it's clear that quick commerce is not just a trend—it's a lifestyle. So, whether you're in Europe grabbing 8-12 items to elevate your dinner game or in Latin America splurging $25-$35 on a spontaneous treat, rest assured that your goodies will be at your door faster than you can say, "I could get used to this."
Product Categories
- In 2021, the food and beverage segment accounted for the largest revenue share of over 31% in the quick commerce market
- The fresh food and produce segment is expected to witness the fastest growth rate of 24.8% from 2022 to 2030
- 75% of quick commerce orders in India are for grocery items
- In Indonesia, 80% of quick commerce orders are for food and beverage items
- In Russia, 70% of quick commerce orders are for grocery items
Interpretation
The Quick Commerce industry is serving up competition as fierce as a hot chili pepper, with the food and beverage segment leading the charge and savoring a delicious revenue share of over 31%. Fresh food and produce are ripening for success, set to sprout a growth rate of 24.8% from 2022 to 2030. Meanwhile, it seems Indians are stocking their virtual carts with groceries like it's a never-ending pantry party, while Indonesians are indulging their taste buds with 80% of orders being food and beverage items. And in Russia, it's all about the essentials as 70% of orders are for groceries, proving that no matter the cuisine, Quick Commerce is here to satisfy appetites with efficiency and flair.
Regional Insights
- North America accounted for the largest revenue share of over 38% in the global quick commerce market in 2021
- Asia Pacific is expected to witness the fastest growth rate of 24.5% in the quick commerce market from 2022 to 2030
- The quick commerce market in Europe was valued at USD 8.89 billion in 2021
Interpretation
In the fast-paced world of quick commerce, it seems North America continues to lead the charge with a hefty 38% of the global revenue pie, showcasing their efficiency in delivering goods faster than you can say "instant gratification." However, don't count out Asia Pacific, poised to sprint ahead with a 24.5% growth rate in the coming years, proving that the tortoise and the hare may have been onto something. And let's not forget about Europe, where the quick commerce market is already worth a cool USD 8.89 billion, showing that good things do come to those who wait... but not for too long.