PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378512
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1378512
The Europe Quick E-Commerce (Quick Commerce) market size was valued at US$ 4.85 billion in 2023 and is expected to reach US$ 47.39 billion by 2030, grow at a compound annual growth rate (CAGR) of 38.5% from 2023 to 2030.
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 4.85 Bn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 38.50% | 2030 Value Projection: | US$ 47.39 Bn |
Quick E-commerce, also known as Quick Commerce or Q-Commerce, has revolutionized the way people shop online. It refers to the delivery of goods and services within minutes, providing utmost convenience to customers. This emerging market combines the speed and efficiency of e-commerce with instant delivery services, resulting in a seamless shopping experience. Quick E-commerce platforms, such as Getir, Gorillas, Gopuff, Jokr, Flink, Zapp, Wolt, Bolt, Deliveroo, Just Eat Takeaway, Delivery Hero, Uber Eats, and others, have gained significant traction in recent years.
The Quick E-commerce market in Europe is witnessing rapid growth, driven by several key factors. Firstly, the rising demand for on-demand delivery services has fueled the expansion of Quick E-commerce platforms. Consumers' busy lifestyles and the need for instant gratification have created a booming market for quick and convenient shopping.
Additionally, the COVID-19 pandemic has further accelerated the adoption of Quick E-commerce. Lockdown restrictions and social distancing measures have prompted a surge in online shopping, with consumers seeking contactless delivery options. Quick E-commerce platforms have thrived in this environment, offering fast and reliable delivery services to meet the increased demand.
In terms of market restraints, one challenge faced by Quick E-commerce platforms is ensuring operational efficiency while maintaining the quality and freshness of products. As the emphasis is on speed, maintaining the integrity of perishable goods and managing logistics can be complex.
However, this market also presents numerous opportunities. The expansion of Quick E-commerce to new geographical regions, as well as the diversification of product offerings, opens up avenues for growth. Furthermore, partnerships with traditional retailers and strategic collaborations can enhance market reach and customer base.