It’s no secret consumers are increasingly valuing speed and convenience when it comes to digital shopping. There’s a constant pursuit for effortless ordering with next to no expendable energy on the customer’s end. The COVID-19 pandemic further ignited consumer demand for fast and simple delivery, thus catapulting the expansion of quick commerce to markets around the world. Now, many last-mile delivery couriers are competing in a race to serve customers as quick as possible.
What’s Quick Commerce?
As McKinsey & Company stated: the digital future is here to stay. Long delivery periods and large quantity purchases a becoming things of the past. The rise of urbanization, coupled with the increasing demand for convenience, has given rise to the next generation of e-commerce: q-commerce. Q-commerce capitalizes on the quick, frictionless delivery of small quantities of goods to customers, whenever and wherever.
Competition among last-mile delivery is at an all-time high, where the race for expansion and market share has led to a surge in innovative, adaptable business models. No longer must customers wait hours or even days for a delivery. Now, it’s down to a matter of minutes!
The basics of Q-Commerce broken down into three components:
- Extremely Fast – Quick delivery based on customer-centric demands, real-time analytics, and data-driven decisions.
- Extremely Organized – Rapid and adaptable R&D to anticipate consumer trends and create relevant products.
- Extremely Local – Logistic networks designed around hyper-regional and last-mile delivery routes.
Innovation within Q-Commerce
Companies are pushing the limits when it comes to cutting-edge tech advancements in the q-commerce landscape. For example, Uber recently introduced delivery drones in the United States, meaning greater surface areas will be reachable for a fraction of the delivery time.
Delivery Hero is another great example of seeking growth and innovation opportunities within quick commerce. “In the future, I see in my wildest dreams potential for us to hydroponically grow herbs and salads in our Dmarts, use a 3D printer to create plant-based meat alternatives, and get our products delivered by automated vehicles or drones,” said Milena Lazarevska, VP Commercial Quick Commerce at Delivery Hero.
Q-commerce is disrupting an entire industry and creating big changes in commercial consumerism. Its rapid expansion across markets and product segments are accelerating the public’s standard for fast delivery. With established enterprises and arising startups now competing head to head, market experts expect competition to continue to heat up for the years to come.
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