US Quick E-Commerce Market is Poised to Grow on Back of Rapid Delivery Services

US Quick E-Commerce Market is Poised to Grow on Back of Rapid Delivery Services

The US quick e-commerce market, popularly known as quick commerce market, is anticipated to witness high growth owing to rapid delivery services. Quick commerce refers to online retail services that deliver groceries and daily essential items to customers within one hour. These services eliminate the need for customers to visit stores for urgent shopping needs. The quick delivery model is proving highly convenient for busy urban customers.

The US Quick Commerce Market Size is estimated to be valued at US$ 7.5 bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023-2031.

Quick commerce enables delivery of a wide range of everyday items including fresh produce, beverages, personal care products, packaged food, medicines and other sundry items. This expands the addressable market for online retailers and serves diverse customer needs through a single platform. Moreover, quick delivery services ensure safe and timely delivery of essential goods without requiring advance ordering or scheduling. This differentiates quick commerce from traditional online grocery platforms and drives its mass adoption.

Key Takeaways 

Key players operating in the US quick e-commerce market are GoPuff, DoorDash, Uber, Instacart, Postmates, Fridge No More, Buyk, Gorillas, Jokr, and Getir among others. These companies are investing heavily in expanding their fulfillment centers, partnering with local retailers, and streamlining delivery operations. For instance, GoPuff has launched hundreds of micro-fulfillment centers while DoorDash is rapidly scaling its grocery and convenience platform through acquisitions.

The quick e-commerce market provides immense opportunities for profitability due to the growing demand for fast delivery of daily essentials. Companies are launching niche offerings, expanding assortments, ensuring 30-minute deliveries, and delivering at competitive price-points to tap demand from diverse customer segments. Retailers are also leveraging quick commerce to test new private label products.

Accelerated by the pandemic, US customers have grown accustomed to fast, on-demand services. Quick commerce players are expanding globally to international markets like the UK, Germany, France and the Middle East. Companies are raising large funding rounds to fortify international presence through strategic partnerships, technology platforms, and global fulfillment infrastructure. The rapid delivery model is expected to witness enhanced global adoption across urbanized regions.

Market Drivers

One of the key drivers of the US quick e-commerce market is the increasing preference for online shopping and on-demand delivery among consumers. The Covid-19 pandemic accelerated digital adoption as people embraced contactless shopping. Moreover, changing lifestyles and busy schedules have made urban customers prioritize quick fulfillment of daily tasks over traditional store visits. Quick delivery services satisfy this need for instant gratification and time-saving.

Market Restraints

High operating costs associated with quick delivery present a major challenge. Maintaining fulfillment centers, hiring delivery staff, ensuring fleet operations and delivering items within tight timelines strains profit margins. Companies have to achieve scale as well as optimize delivery routes to cover costs. Moreover, increasing competition requires continuous service enhancement, assurance of high in-stock levels as well as competitive pricing for customers. This adds pressure on profitability.

Segment Analysis

The US quick e-commerce (quick commerce) market has two major segments- grocery and essentials, and consumer electronics. The grocery and essentials segment currently dominates the overall market. This is because most quick commerce players focus on delivering grocery, food and daily essential items within 15-30 minutes. The instant demand for daily consumables along with the ease and convenience of quick delivery has made the grocery and essentials sub-segment the largest within the quick commerce industry.

Global Analysis

Regionally, the US quick e-commerce market is currently dominated by major cities and metropolitan areas. New York, Los Angeles, Chicago, Washington DC, Boston, Philadelphia and Miami are some of the key regional markets. However, over the forecast period, smaller cities and suburban areas are expected to emerge as high growth regions. This is due to expanding service coverage of quick commerce players to newer locations driven by growing consumer demand. Also, increasing number of partner stores and strategic investments by market leaders will help penetrate newer markets at a faster pace. Europe follows the US market closely, with UK and Germany contributing significantly to the growth of global quick commerce industry. However, Asia Pacific is anticipated to witness the highest growth rate led by China and India with growing smartphone penetration and rising investments dedicated for quick commerce platforms.

What Are The Key Data Covered In This US Quick E-Commerce Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the US Quick E-Commerce's growth between 2024 and 2031.

:- Accurate calculation of the size of the US Quick E-Commerce and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- US Quick E-Commerce Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of US Quick E-Commerce vendors

FAQ’s

Q.1 What are the main factors influencing the US Quick E-Commerce?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top US Quick E-Commerce companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the US Quick E-Commerce’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

Get more insights on this topic: https://www.marketwebjournal.com/us-quick-e-commerce-market-trend-size-and-demand-2/