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India Quick E-Commerce (Quick Commerce) Market Size to Surpass US$ 19,932.5 Million by 2030 | Exhibiting a CAGR of 63%

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BURLINGAME, Calif., Feb. 27, 2024 /PRNewswire/ — CoherentMI published a report, titled, India Quick E-Commerce (Quick Commerce) Market was valued at US$ 652 Million in the year 2023 and is anticipated to reach US$ 19,932.5 Million by 2030, at a CAGR of 63% during forecast period 2023-2030.

Market Dynamics:

The India Quick E-Commerce (Quick Commerce) Market is experiencing rapid growth primarily due to the rising internet penetration rate in the country. With the increasing availability and affordability of smartphones, there has been a significant increase in the number of internet users, particularly in rural areas. This has led to an upsurge in online shopping activities, creating a favorable environment for the quick e-commerce market in India. Additionally, the convenience offered by quick e-commerce platforms, such as fast delivery and easy return policies, has further fueled the market growth. Moreover, the COVID-19 pandemic has also played a significant role in accelerating the adoption of quick e-commerce in India, as consumers prefer contactless shopping and home delivery services.

India Quick E-Commerce (Quick Commerce) Market Report Snapshot:

Report Coverage

Details

Study Period

2023 – 2030

Base Year of Estimation

2022

CAGR

63 %

Largest Market

India

Market Concentration

High

Major Players

Grofers, Milkbasket, DailyNinja, Natures Basket, Blinkit and Among Others.

Segments Covered

By Product Category, By Order Value, By Location, By Time-slot, By Payment Mode

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Growth Drivers

• Busy Lifestyles and Time Poverty among Working Professionals
• Increased Smartphone and Internet Penetration
• Young Demographics and Tech Savvy Population
• Urbanization and Busy City Life

Restraints & Challenges

• Operational Complexities
• High Customer Acquisition Costs
• Low Barriers to Entry and High Competition

 

Market Takeaways:

India Quick E-Commerce (Quick Commerce) Market Size is anticipated to witness a CAGR of 63% during the forecast period 2023-2030, owing to the increasing adoption of e-commerce platforms for quick and convenient shopping by consumers.

On the basis of Product Category, the Fruits & Vegetables segment is expected to hold a dominant position in the India Quick E-Commerce (Quick Commerce) Market. This is primarily due to the increasing focus on health and wellness, leading to a high demand for fresh produce among consumers. Additionally, the growing popularity of online grocery shopping further contributes to the dominance of the Fruits & Vegetables segment.

In terms of Order Value, the Below INR 500 segment is expected to dominate the India Quick E-Commerce (Quick Commerce) Market. This is driven by the price-conscious nature of Indian consumers, who prefer to shop for lower-priced items online. The convenience of quick delivery and competitive pricing offered by e-commerce platforms has further popularized this segment.

Metropolitan Cities are expected to hold a dominant position in the India Quick E-Commerce (Quick Commerce) Market in terms of Location. This can be attributed to the higher population density and better access to e-commerce infrastructure in these cities. The availability of fast and reliable delivery services, along with a wide range of product options, makes metropolitan cities the key market for quick e-commerce.

Key players operating in the India Quick E-Commerce (Quick Commerce) Market include Grofers, Milkbasket, DailyNinja, Natures Basket, Blinkit, Swiggy Instamart, Zepto, Dunzo, BigBasket, Spencer’s Retail, More Retail, Aaram Shop, CityMall, Otipy, Myra, Bikaji Foods, Amazon Quick Commerce, Tata Neu Super App, JioMart, Flipkart Quick. These players play a significant role in the market by offering a diverse range of products, ensuring competitive pricing, and providing efficient delivery services. With the growing market opportunities, these key players are expected to expand their market presence and contribute to the overall growth of the India Quick E-Commerce (Quick Commerce) Market.

Market Trends:

Increased Focus on Hyperlocal Delivery:

One of the key trends observed in the India Quick E-Commerce (Quick Commerce) Market is the increased focus on hyperlocal delivery. With the aim to provide faster and more efficient delivery services, e-commerce platforms are partnering with local stores and vendors to establish a strong hyperlocal network. This enables them to deliver products to customers within a few hours, enhancing customer satisfaction and loyalty.

Growing Popularity of Social Commerce:

Another emerging trend in the India Quick E-Commerce (Quick Commerce) Market is the growing popularity of social commerce. Social media platforms, such as Instagram and Facebook, have become an integral part of people’s lives, and businesses are leveraging these platforms to promote and sell their products. Quick e-commerce platforms are integrating social commerce features, such as buy buttons and shoppable posts, to enable users to purchase products directly from social media platforms, thus driving the market growth.

Recent Development: 

In January 2022, Zepto expanded its product line by launching Coffee Café Day beverages on its rapid commerce app.

In March 2022, Swiggy insta market began offering 15-30 minutes delivery of fruits and vegetables in Gurugram.

Read complete market research report, “India Quick E-Commerce (Quick Commerce) Market, By Product Category, By Order Value, By Location, By Time-slot, By Payment Mode, and other Segment Forecast 2023-2030“, Published by CoherentMI.

Market Opportunities:

Growing Market Size and Increasing CAGR

The India Quick E-Commerce (Quick Commerce) Market is anticipated to witness a significant growth with a CAGR of 63% during the forecast period of 2023-2030. This rapid growth is primarily attributed to the increasing adoption of e-commerce platforms for quick and convenient shopping by consumers. As per market research, the market size is estimated to reach US$ 652 million in 2023. This emphasizes the immense potential for growth in the quick e-commerce sector in India.

Diverse Product Categories and Order Values

The India Quick E-Commerce (Quick Commerce) Market offers a wide range of product categories catering to diverse consumer needs. The dominating product category is Fruits & Vegetables, followed by Snacks & Beverages, Dairy & Bakery, Staples & Cooking Essentials, Meat & Seafood, Personal care, and Others. This diverse range of product categories provides ample opportunities for retailers and allows them to cater to the evolving preferences and demands of consumers.

The order value segment in the India Quick E-Commerce (Quick Commerce) Market is categorized into Below INR 500, INR 500-1000, INR 1000-1500, and above 1500. Currently, the dominating order value segment is Below INR 500. This reflects the trend of Indian consumers preferring affordable and budget-friendly options for online purchases, leading to the dominance of lower order value segments in the market.

In conclusion, the India Quick E-Commerce (Quick Commerce) Market presents significant market opportunities with its growing market size and increasing CAGR. With diverse product categories, order values, and location preferences, the market offers immense potential for retailers and key players to tap into the evolving consumer demands. The dominance of metropolitan cities and the presence of key players further contribute to the growth of the India Quick E-Commerce (Quick Commerce) Market.

India Quick E-Commerce (Quick Commerce) Market Segmentation:

By Product CategoryFruits & VegetablesSnacks & BeveragesDairy & BakeryStaples & Cooking EssentialsMeat & SeafoodPersonal CareOthersBy Order ValueBelow INR 500INR 500-1000INR 1000-1500Above INR 1500By LocationMetropolitan CitiesTier 1 CitiesTier 2 CitiesRest of IndiaBy Time-slot30 minutes60 minutes90 minutesMore than 90 minutesBy Payment ModeDigital WalletsCredit/Debit CardsCash on DeliveryUPINet Banking

Purchase this premium report now: https://www.coherentmi.com/industry-reports/india-quick-e-commerce-market/buyNow

Top Questions Answered in this Report:

What factors are impeding the growth of the India Quick E-Commerce (Quick Commerce) Market?What are the primary drivers fueling the growth of the India Quick E-Commerce (Quick Commerce) Market?Which segment stands out as the leading component in the India Quick E-Commerce (Quick Commerce) Market?Who are the key players actively participating in the India Quick E-Commerce (Quick Commerce) Market?Which region is poised to take the lead in the India Quick E-Commerce (Quick Commerce) Market?What is the projected CAGR for the India Quick E-Commerce (Quick Commerce) Market?

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About Us:

At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today’s rapidly changing business landscape.

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Senior Client Partner – Business Development
CoherentMI

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SOURCE Coherent Market Insights

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Top-Notch B2B Sellers from South and Southeast Asia Crowned Champions at Alibaba.com’s KEL Award Grand Finale

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HO CHI MINH CITY, Vietnam, Nov. 15, 2024 /PRNewswire/ — Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, yesterday hosted the Key E-Commerce Leader Award (KEL) Grand Finale in Ho Chi Minh City, Vietnam. The event celebrated the achievements and contributions of outstanding B2B e-commerce sellers from across South and Southeast Asia, reflecting Alibaba.com’s commitment to fostering the growth of small and medium-sized enterprises (SMEs) in the global e-commerce sector.

The event brought together 10 top-notch e-commerce sellers from Vietnam, India, Pakistan, Thailand, Malaysia and Indonesia in one of the region’s most vibrant cities, Ho Chi Minh City. These exceptional sellers exemplify the transformative power of Alibaba.com’s platform, which enables local businesses to grow into global players by providing access to international markets and digital tools. The KEL Award spotlighted their achievements, resilience and leadership, inspiring other SMEs to embrace cross-border opportunities and reach international markets.

After hours of intense business case pitching by the top 10 finalists and careful deliberation by the judging panel, Alibaba.com announced the top 3 Key E-Commerce Leaders for KEL Award 2024 went to Ms. Xuan Hai Yen (Yanni), Deputy Director at Proline Vietnam Manufacture and Trading from Vietnam; Ms. Natasha Gogna, Managing Director of Shri Krishna International from India and Mr. Tayyub Hussnain, Founder of Norwich Streetwear from Pakistan. Additionally, the event awarded Mr. Tayyub Hussnain as the winner of the People’s Choice Award, determined by audience votes.

The judging panel included distinguished Alibaba.com leaders and experts: Mr. Shawn Yang (General Manager of Global Business Development at Alibaba.com), Mr. Roger Luo (Head of South and Southeast Asia at Alibaba.com), Ms. Ella Xie (Director of Global Business Development at Alibaba.com), and Ms. Savannah Zheng (CEO of CGCH & Awins).

Mr. Shawn Yang, General Manager of Global Business Development at Alibaba.com, shared: “Through the inspiring stories shared by the sellers at the KEL Award, Alibaba.com aims to motivate businesses across South and Southeast Asia to engage actively in the high-potential arena of global digital trade. For those who have already embarked on their digital trade journeys, we hope these success stories offer valuable insights and strategies for breakthrough, innovation, and diversified growth to succeed on a global scale.”

One such inspiring story comes from Ravin Sadh, founder of Conifer Handmades, whose journey demonstrates the immense potential of digital trade through Alibaba.com. He has spent the past two decades building a successful export business in the gifts and crafts industry without ever stepping into a traditional trade expo or needing to travel abroad. Since joining Alibaba.com in 1999, when the platform was newly established, Ravin has relied exclusively on it to reach customers worldwide. Today, 100% of Conifer Handmades’ business comes from Alibaba.com, with exports spanning over 35 countries. Focused on sustainable gift bags and crafts, Ravin’s business has grown exponentially through Alibaba.com’s digital platform, allowing him to connect with international buyers without the typical need for in-person networking or overseas travel. In fact, he only acquired a passport to attend the KEL Award Grand Finale, marking his first journey abroad as a testament to his commitment and success through Alibaba.com alone.

One of the 10 finalists, Tayyub Hussnain from Norwich Streetwear, shared a compelling story that underscores the transformative power of ambition and innovation in e-commerce. After graduating from Govt. Murray College in Sialkot in 2014, he embarked on his career with a modest monthly salary of 16,000 PKR. His entrepreneurial journey in the apparel industry was catalyzed when he received a laptop from the Chief Minister of Punjab, which introduced him to Alibaba.com. Through this platform, he secured his first major order of 770 pieces of clothing, an accomplishment that significantly boosted his confidence. This newfound assurance led Hussnain to leave his stable job and devote himself fully to building his business on Alibaba.com.

Xuan Hai Yen, Deputy Director of Proline Vietnam Manufacture and Trading, is a dynamic leader who has turned her family’s business into a multimillion-dollar enterprise with double-digit revenue growth over the past nine years. With 15 years of experience in the import-export and e-commerce sector, Yen exemplifies how resilience and a forward-thinking approach can drive transformative growth.

Yen took charge of the company during challenging times, crafting digital strategies to modernize operations and expand into global markets. Her vision to embrace digital solutions, particularly through Alibaba.com, helped revive the company, leading to an impressive 30% growth rate. Today, Proline exports a diverse range of products, including food bags, ESD anti-static bags and more. Under her leadership, Proline successfully expanded its reach to over 15 countries, including the U.S., UK, Malaysia, India, Thailand, Russia, Cambodia and Australia. Within just four months of joining Alibaba.com, the company secured its first U.S. order, a significant milestone in its growth journey. These success stories illustrate the transformative potential of e-commerce, with Alibaba.com serving as a vital growth engine, connecting businesses to the global market and maximizing their potential.

The Top 10 Finalists of the 2024 KEL Award Grand Finale included:

Ms. Xuan Hai Yen (Yanni), Deputy Director at Proline Vietnam Manufacture and Trading Limited Company, VietnamMr. Can Quang Sang, Marketing Manager of VIHABA Co., LTD, VietnamMs. Nguyen Thi Loan, Founder and CEO of Centic Vietnam JSC, VietnamMr. Ravin Sadh, Founder of Conifer Handmades, IndiaMs. Natasha Gogna, Managing Director of Shri Krishna International, IndiaMr. Muzafar Hussain, Overseas Marketing Head of JNM Leather Safety Gloves, PakistanMr. Tayyub Hussnain, Founder of Norwich Streetwear, PakistanMs. Nitcharee Ujjin, Co-founder of Thumbinthai Co., Ltd., ThailandMr. Nicholas Tee Kai Xuen, Vice President of L.K.Tee Enterprise Sdn Bhd, MalaysiaMr. Fahmi Zaenal, Co-founder of PT Pohacee Cartens International, Indonesia

About Alibaba.com

Launched in 1999, Alibaba.com is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world. It is engaged in services covering various aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. Alibaba.com is part of Alibaba International Digital Commerce Group.

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SOURCE Alibaba.com

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MTR* advertising Launches Full-Funnel OMO Interactive Branding Campaign for Bank of China (Hong Kong) To Elevate Brand Connection with MTR Passengers

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HONG KONG, Nov. 15, 2024 /PRNewswire/ — MTR* advertising is excited to unveil the Bank of China (Hong Kong) (“BOCHK”) “Connect Every Excitement” branding campaign, designed to deepen brand engagement and foster connections with MTR passengers.  BOCHK leverages the extensive and high-quality passenger base of MTR’s urban lines and features an engaging tennis game to enhance daily commuting experiences while strengthening the BOCHK brand identity.

This innovative Online-Merge-Offline (OMO) campaign represents a pioneering effort to seamlessly integrate digital interactions into the MTR* advertising ecosystem. Utilizing a full-funnel strategy, BOCHK “Connect Every Excitement” creates multiple touchpoints to boost brand awareness and passenger engagement through an interactive tennis game. By bridging the online and offline experience via digital panels, mobile devices, and social media, BOCHK aims to cultivate a vibrant community around its brand.

The campaign harnesses the power of digital media to create an immersive experience targeting MTR passengers, particularly the office workers and Gen Z demographic. With comprehensive coverage across MTR’s extensive digital networks, it features captivating station zone takeovers, incentivized mobile and on-site games, and a cutting-edge programmatic digital out-of-home (pDOOH) advertising strategy.

The centrepiece of the campaign, the BOCHK “Connect Every Excitement” mobile game invites users to enjoy a fun tennis experience anytime, anywhere. Participants can compete for exciting rewards, including MTR Points and a BOC Credit Card HK$1,800 cash rebate. To cater to the fast-paced lifestyle of city dwellers, BOCHK has also introduced on-site versions of the game at the Interactive Iconic Digital Zones of MTR Tsim Sha Tsui and Causeway Bay stations, allowing passengers to stretch and win additional MTR Points during their commute.

With over 480 digital panels across MTR stations, the campaign ensures numerous touchpoints with passengers. The adaptability of digital formats allows real-time content optimization, encouraging participation in the on-site game at MTR Tsim Sha Tsui and Causeway Bay stations. Through the integration of retargeting advertising with MTR Mobile, reinforcing game participation messages for those who have been reached by BOCHK digital advertisements.  Additionally, Digital Ring Zone Domination at MTR Tsim Sha Tsui Station targets diverse demographics to maximize engagement.

Through this dynamic approach, BOCHK not only enhances its brand visibility but also enriches the journey for MTR passengers, making commutes more enjoyable. The BOCHK “Connect Every Excitement” campaign stands as a testament to BOCHK’s commitment to innovative brand engagement, fostering a closer connection with its customers.

“We are thrilled to launch this full-funnel OMO campaign that combines digital and on-site interactions to connect with our customers. The BOCHK “Connect Every Excitement” campaign reflects our dedication to understanding our customers and enhancing their connection with the BOCHK brand through our digital interactive platform.” said Ms. Shirley Chan, Managing Director of Hong Kong and Macau at JCDecaux Transport.

It’s time to dive into the hype of BOC “Connect Every Excitement” for a chance to win MTR points and cash rebates on Bank of China (Hong Kong) credit cards at http://bit.ly/40wZOy2

 

Terms and conditions applied
Reminder: To borrow or not to borrow? Borrow only if you can repay.

For further details regarding the promotional campaign of MTR* advertising and BOCHK, please reach out to media inquiries:

About JCDecaux Transport

JCDecaux Transport is the main subsidiary of the JCDecaux Group, the number one outdoor advertising company worldwide. Established since 1976, JCDecaux Transport is the market leader in outdoor advertising in Hong Kong and manages the advertising sales concessions of MTR* and Airport Express for over 45 years. Currently, the company also operates the advertising concessions for Hong Kong International Airport, Macau International Airport and Pacific Place Passages. For more information about JCDecaux Transport, visit

Website: www.jcdecaux-transport.com.hk

LinkedIn: https://www.linkedin.com/company/jcdecaux-transport-hong-kong/ 

*MTR advertising refers to advertising exclusively operated by JCDecaux Transport, including Island Line, South Island Line, Tsuen Wan Line, Kwun Tong Line, Tung Chung Line, Tseung Kwan O Line, Disneyland Resort Line and Airport Express, as well as MTR Mobile advertising.  

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SOURCE JCDecaux Transport

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PayerMax Recognized as “Best Payment Service Provider” by MEA Finance

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DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — PayerMax, a leading global provider of payment solutions, has been named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony hosted on November 12 in Dubai. The award is a testament of PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa, as well as its leadership position in payment solutions.

The annual MEA Finance Industry Awards recognizes the financial institutions, technology solutions providers, fintech companies, service providers and individuals for exceptional achievements, groundbreaking services and inspirational leadership in delivering innovative products and services.

“We’re very honored to receive the award. It not only recognizes the success of our innovative technologies and regional strategies, but also it is the perfect testimonial of how our team thrives to create superior values for our clients, and we look forward to more cooperation with more partners,” said Wang Hu, co-founder of PayerMax. “Looking ahead, PayerMax remains committed to further strengthening our presence and deepening our efforts in the Middle Eastern market. We will continue to empower more businesses and enhance the digital payment ecosystem across regions, driving value and growth for clients around the world.”

In 2024, PayerMax achieved major milestones in the Middle East market. In alignment with Saudi Arabia’s Vision 2030, PayerMax became the first Asian fintech company to establish a regional headquarters in Riyadh and obtained the Payment Technical Service Provider (PTSP) certification from Saudi Payments on behalf of the Saudi Central Bank (SAMA) in September. This certification allows PayerMax to operate seamlessly within Saudi Arabia’s financial ecosystem, providing merchants across the country with secure, flexible, and efficient payment solutions. The company has also formed partnerships with leading banks such as SAB and Emirates NBD, advancing the digital twin ecosystem while supporting financial inclusion, economic diversification, and an enhanced user experience through digital payments in the region. Furthermore, as the first Asian fintech company to secure the UAE’s payment license, PayerMax is strengthening its presence and expanding operations across the Middle East.

Beyond the Middle East, PayerMax’s achievements in 2024 were globally recognized. In May,  PayerMax was awarded the 2024 “Best Payments and Collections Solution” award from The Asset in the prestigious “The Asset Triple A Awards.” With an impressive 95% coverage of mainstream payment methods in emerging markets, PayerMax continues to build on its vision of providing innovative payment solutions worldwide.

PayerMax is committed to providing businesses with one-stop local payment solutions to meet their diverse payment needs. Its extensive network supports a wide range of over 600 payment methods, more than 70 transaction currencies, and over 20 local languages, catering to diverse global user payment preferences. With a vision to drive merchant success on a global scale, PayerMax offers an array of value-added services, including risk management, foreign exchange management, payment marketing (webshop), and finance & tax services, constructing a comprehensive environment for merchants to excel in a competitive global marketplace and handle the intricacies of globalization with ease.

Looking ahead, PayerMax is committed to staying at the forefront of the evolving digital payment landscape. The company will continue to invest in technological innovation and service enhancements to deliver increased value and opportunities to its customers. By doing so, PayerMax aims to empower global business expansion and facilitate the transition to a cashless society. For more information, please visit https://www.payermax.com/.

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