The report said that while India's e-commerce sector is registering an annual growth rate of 14 percent, quick commerce is set to expand at an impressive annual growth rate of 73 percent during FY 2023-24 Quick Commerce in India The market is currently valued at USD 3.34 billion in 2024 and is projected to reach USD 9.95 billion by 2029, growing at a compound annual growth rate (CAGR) of over 4.5 percent over the forecast period (2024-2029).
The report states that “the market size of the quick commerce industry in India is estimated to be US$3.34 billion in 2024, and is expected to reach US$9.95 billion by 2029.” Despite this rapid growth, the sector remains relatively untapped, with a penetration rate of only 7 percent of the total addressable market, valued at US$45 billion. This points to a significant opportunity for further expansion, with Quick Commerce already surpassing the market size of food delivery.
The report also mentions that to capitalize on this potential, quick commerce platforms are partnering with manufacturers for direct sourcing, bypassing traditional distributor networks. This strategy enables the platform to streamline operations, reduce costs, and offer more competitive prices to consumers. The report notes that “quick commerce platforms are increasingly partnering with manufacturers for direct sourcing, bypassing traditional distributor networks.” Furthermore, the technological infrastructure of the Quick Commerce platform is designed to ensure continuous improvement in operational processes, increasing agility and speed in the value chain. These innovations are helping instant commerce platforms deliver faster and more efficiently, meeting the growing demand for instant delivery in India. As the industry continues to evolve, experts predict that instant commerce will play an important role in India's retail landscape. (ANI)
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