What is Quick Commerce? Top Benefits and Opportunities for Entrepreneurs

Exhibiting a robust market value of $5.8 trillion, the market of e-commerce/retail is steadily growing with rapid digitization. With rising possibilities and competition in the e-commerce/retail segment, engaging and retaining customers is also gaining priority for business owners. Now with the adoption of the quick commerce business model, many brands are satisfying customers with an immediate fulfillment of their service requests. Let us proceed to know:

What is Quick Commerce?

Quick Commerce or Q-Commerce refers to the delivery of goods and services within a shorter span. This extremely popular and profit-driven medium enables retail establishments to immediately address their customers’ needs with the efficient utilization of on-demand delivery apps like DoorDash, Gopuff Grubhub, InstaCart, Uber Eats, and so on.

Currently, the global revenue size of this business segment is $170.80 billion. By 2029, it is estimated to witness an awesome revenue growth of $265.80 billion. So, to flourish your presence in this sector, you must obtain top-notch e-commerce solutions.

What is the Difference Between Q-commerce and E-commerce?

The main distinction lies in the delivery timeline. In e-commerce, when you place an order online, the delivery duration usually takes about 4-7 days. However, in Q-Commerce, your ordered items like groceries, medicines, restaurant foods, etc. are delivered within 15 to 30 minutes once placing the order. It is the reason, Q-commerce app users are rapidly increasing which is presently over 511.8 million across the globe.

Now!

It is time to dig into:

Some Top Quick Commerce Industry Insights

• By 2030, the global market value of Q-Commerce is expected to reach $303.27 billion. (Source: Coherent Market Insights)
• The population of Quick Commerce users is forecasted to reach the mark of 788 million in 2027. (Source: Statista)
• North America in the Quick Commerce segment comes with a market share of 28.5 percent in the Quick Commerce segment and that of Asia-Pacific is 27.8 percent in the same sector. (Source: Grandview Research)
• Getir has emerged as the most downloaded Quick Commerce app (18.35 million downloads). (Source; Statista)
• China is forecasted to lead the quick commerce sector with an impressive user penetration rate of 21.4 percent. (Source: Statista)

What are the Benefits Quick Commerce Brings to Retail Enterprises?

1. Deriving Competitive Edge

As competition in the e-commerce & retail industry is intensifying, meeting the immediate service requirements of customers will help your business stand out in the market. No doubt, investing in the Quick Commerce segment with the help of a leading e-commerce app development company in the USA will help you please tech-savvy customers easily.

2. Increased User Reach

In the Q-commerce segment, attracting a huge consumer chunk is always possible due to the on-time delivery facility. So, many enterprises are showcasing interest in investing in this segment to boost user reach and brand visibility throughout the year.

3. Minimum Logistics Budget

Organizations operating in the Q-commerce business always collaborate with small vendors to deliver ordered items at nearby locations. This not only allows them to save budget on logistics but also enables them to provide a better customer service experience with the deployment of top-notch e-commerce solutions.

4. Enhanced Profitability

Besides enhancing your customer segments, Q-Commerce is also letting enterprises operating in the retail business earn surplus profits. Currently, 88 percent of customers are ready to pay more to ensure the same-day delivery of their ordered items. (Source: Retail Touch Points)

As people are actively choosing on-demand delivery options, this is motivating retail firms to adopt the quick commerce business. This is helping them to increase the possibility of generating robust dividends and returns within a short time.

5. Ensure Customer Satisfaction

Previously, retailers had to struggle when optimizing the traditional shopping experience of their customers. But with the introduction of Q-Commerce, e-commerce/retail owners can easily make their customers happy with on-demand delivery of ordered items within the same day in a very short time. However, to maintain customer satisfaction at the highest level in this industry, they have to utilize result-driven e-commerce solutions.

What are the Emerging Q-Commerce Business Trends That You Should Watch Out?

1. Advanced Technology Adoption

The arrival of Q-Commerce has not only fulfilled the growing consumer demand but also provided a competitive edge for businesses in the e-commerce/retail segment.

Now as competition in this segment is also witnessing a massive surge, in the coming years, quick commerce service providers will focus on using Artificial Intelligence, Machine Learning, Predictive Analytics, etc.

This will help them to impress customers with-

• Streamlining the delivery process with an accurate location tracking facility
• Meeting the prescribed delivery deadlines sharply upholding quality
• Assessing the changing product preferences of customers very easily
• Analyzing evolving on-demand delivery market trends quite accurately.

2. Optimization of Delivery Infrastructure

Currently, quick commerce establishments are using either bicycles or motorbikes to deliver ordered items to the designated commercial or residential address of the customer. But to enhance delivery efficiency and meet the scheduled deadlines, the use of drones and other smart vehicles with the help of a professional e-commerce solution provider will also gain prominence in the future.

3. Incorporation of Gamification

Customers opting for quick commerce solutions will also be rewarded with points, profile badges, order-placing dashboards, and other rewarding elements of gamification in the coming days. This will allow e-commerce/retail owners to enhance the on-demand delivery of their customers to boost product sales and revenue flow.

4. More Monetization Options

Although quick commerce is letting enterprises earn surplus income from online payment and cash-on-delivery. In the coming days, this business model also serves entrepreneurs with other earning opportunities-

• Subscription Plans

Introducing different subscription plans will tempt your customers to pay a specific amount of money to enjoy desired privileges like discounts, cashback, etc. throughout the year. This will also boost your goal of revenue surge very easily.

• Advertisement Fees

Permitting various brands to use your quick commerce platforms to run advertisements will also allow your business to claim a substantial revenue share based on user’s clicks, views, and other metrics. However, to utilize this monetization option wisely, communicating with a reliable e-commerce solution provider will be useful.

• Partnership Commission

Businesses who are interested in using your quick commerce platform to exhibit their products, need to pay you a specific amount of money for doing this. Under this model, you will also have the right to claim additional revenue share for every transaction taking place from your q-commerce platform.

5. Creating More Micro-Fulfillment Stores

Ensuring timely product delivery in good condition is the main USP of the quick commerce model. But as the market is emerging more competitive, retailers will concentrate on reducing the delivery duration to 6 minutes.

Hence, to achieve this goal, they will concentrate on establishing more micro-fulfillment centers at various strategic urban and semi-urban locations to minimize the delivery time further.

How Do We Help You to Succeed in the E-Commerce/Retail Segment?

We at Red Apple Technologies, blend your business goals and vision into our solutions to deliver the best outcome on time. With our e-commerce app development exposure , we bring unmatched service craftsmanship into your dream project with a method-of-madness work approach.

From conceptualization to user-journey map creation, development, and launching, we bear the entire responsibility to improve the traditional e-commerce/retail shopping experience of your customers. Right now, we have emerged as a reliable destination for the global clientele due to reasons like-

• Decade-Old Market Experience

We are not a new entrant into the game and app development industry. We have almost covered over a decade in this segment. It is the reason, we always receive trust and confidence from clients to solve their distinct project requirements.

• 24/7 Customer Support

Providing efficient customer support also constitutes a major hallmark of our professionalism and unwavering commitment to excellence. Irrespective of time zone and geographic location, our team always responds to the diverse requirements, queries, and feedback of clients quite actively.

• Tehnological Proficiency

Our 150+ experienced and hardworking professionals are equipped with strong knowledge of using cutting-edge tools and technologies like Unity, Unreal, HTML5, Blockchain, AR/VR, etc. to bring alive your imagination.

• Regulations Compliant

Our e-commerce solutions always adhere to guidelines like GDPR (General Data Protection Regulation), PCI DSS (Payment Card Industry Data Security Standard), COPPA (Children’s Online Privacy Protection Act), and so on.

• Flexible Hiring

We also let you hire e-commerce developers with flexible recruitment options like Fixed-Cost Models, Time & Material (T & M), and Dedicated Hiring to accomplish your project works under your control.