India Quick Commerce Market Overview, 2029

The Indian rapid commerce market, which focusses on delivering things quickly to consumers, is significant due to its ease, efficiency, and accessibility. It responds to urban consumers' increased desire for rapid gratification by addressing issues such as congested metropolitan settings, hectic lifestyles, and the necessity for convenient shopping options. This market stands out for its quick expansion, which is fuelled by a big consumer base and rising digital literacy. The India rapid commerce sector originated from traditional e-commerce, with early entrants such as Flipkart and Amazon India pioneering online purchasing.

However, the market surged with the introduction of specific rapid commerce platforms and the increase in smartphone adoption. Companies like Swiggy, Zomato, and BigBasket arose, employing technology to provide rapid deliveries. Investments from venture capital firms and tech behemoths have also fuelled growth and innovation. For example, Swiggy and Zomato have received major investments to develop their services and technology capabilities. In terms of compliance, rapid commerce enterprises in India must follow a number of regulations, including food safety norms (Food Safety and norms Authority of India), labour laws, and data privacy restrictions.

Also, enterprises must follow e-commerce regulations and maintain fair competition, as defined by the Competition Commission of India. The new Consumer Protection (E-commerce) Rules, 2020, require transparency and fairness in e-commerce transactions. Lockdowns and social distancing tactics pushed consumers to use online shopping and speedy delivery services at record rates.

According to a RedSeer Consulting estimate, the Indian e-commerce sector would expand by 36% in 2020, owing mostly to the expansion of fast commerce. This shift in consumer behaviour has lasted after the epidemic, indicating long-term shifts in shopping habits and a bright future for the rapid commerce business. The pandemic also fuelled technologies such as autonomous deliveries, with companies like Zomato testing drone deliveries to reduce human touch.

According to the research report "India Quick Commerce Market Overview, 2029" the India quick commerce market was valued at more than USD 3.30 billion in 2023. The quick commerce segment, in particular, is thriving because to its promise of rapid delivery, frequently within minutes. This expansion is fuelled by expanding smartphone penetration, improved internet infrastructure, and increased use of digital payments. Also, the market stands out for its job creation and contribution to the digital economy. Several main trends are influencing the market. For starters, there is a growing demand for ultra-fast deliveries, with some players boasting 10-30 minute turnaround times.

To expedite order fulfilment, dark shopfronts and micro-fulfillment centres are popping up everywhere. And there is an increasing emphasis on sustainability, with customers preferring environmentally friendly packaging and delivery methods. The practice of "cloud kitchens" which prepare food specifically for delivery, is also gaining traction. Both multinational and local enterprises are key players in India's fast commerce market. Swiggy, a local player, is a key company that offers a diverse choice of products with rapid delivery via its "Instamart" service. Another big competitor in the local market is Zomato, which offers express meal deliveries as well as grocery deliveries.

Other noteworthy players include BigBasket, Dunzo, and Zepto. These organisations use their technological capabilities and huge distribution networks to provide fast and efficient services. Swiggy works with local shops and businesses to broaden its product offering. Zomato has worked with worldwide food businesses such as McDonald's and KFC to improve its delivery services.

BigBasket partnered with Dunzo to provide quick grocery deliveries. Also, rapid commerce platforms collaborate with technology businesses to improve their services. Swiggy, for example, collaborated with Google to improve its delivery services by leveraging the Google Maps Platform. Zomato worked with HyperVerge, an AI firm, to strengthen its image recognition capabilities for menu processing.

The India quick commerce market offers a diverse range of product types, catering to the immediate needs of consumers. Groceries is the leading segment in the India quick commerce market. It contains fresh vegetables, packaged foods, beverages, and other household necessities. The development is being driven by the frequent and recurrent nature of grocery purchases, as well as the convenience of speedy delivery. Key players include Swiggy's Instamart, Zomato's grocery delivery service, BigBasket, and Zepto. Swiggy's Instamart, for instance, innovates through its dark store format, enabling rapid grocery deliveries within 15-30 minutes.

BigBasket distinguishes itself with its large product line and advanced supply chain management, which ensures rapid and dependable delivery. The other sector contains office supplies, school stationery, and other relevant things. While not as huge as groceries, it meets a distinct demand, particularly with the increase of distant employment and online schooling. Startups such as Industrybuying, which began with industrial supplies, have expanded their product offers to include stationery products, capitalising on rising demand. Companies such as Nykaa, 1mg, and PharmEasy provide quick delivery for personal care items.

Also, sites such as Swiggy's Instamart and Zomato's grocery delivery service offer specific categories for these items. While not as popular as groceries, the high price of these things makes them a considerable market sector. Platforms such as Flipkart Quick and Amazon India's Prime Now service are important players, providing fast electronic deliveries.

In India's rapid commerce market, both cash on delivery (COD) and online payment methods are popular, catering to diverse consumer preferences and levels of digital proficiency. However, online payment is the dominating segment due to its simplicity, speed, and security, which is fuelled by the country's digital transformation objectives and widespread acceptance of digital payments. This section dominates the India rapid commerce market, accepting a variety of payment methods including digital wallets, credit/debit cards, net banking, and the Unified Payments Interface (UPI).

Technological improvements, changing consumer behaviours, and government programs promoting digital transactions, such as the Digital India campaign, all contribute to the expansion of online payments. Paytm is a significant digital payment platform in India, providing a variety of payment services such as digital wallets, UPI, and net banking. It innovates with its QR code payment system, which allows users to make payments with their cellphones. PhonePe, a digital payment network supported by Walmart and Flipkart, is another major competitor in the online payment industry. It provides secure and simple payment services that enable a variety of payment methods and use cases.

Google Pay, a digital payment technology developed by Google, has achieved substantial popularity in India because to its user-friendly interface and powerful functionality. It supports UPI payments, which allow users to connect their bank accounts straight to the app for seamless transactions. COD is a popular payment option in India since it allows customers to pay for their purchases upon delivery, giving them the freedom to check products before paying and avoiding the need to provide financial information online. However, it creates issues for organisations, such as an increased chance of payment defaults and delayed payments.

Platforms in the India rapid commerce market function via a variety of channels, including application-based operation, hybrid operation, and website-based operation, each with its own relevance and advantages. The importance of app-based operation stems from its simplicity, user-friendly interfaces, and ability to exploit mobile capabilities such as push alerts and location services. It's especially enticing to tech-savvy customers and those who want to shop on the go. Swiggy, Zomato, and BigBasket are among the leading players in this area. Swiggy, for example, innovates with its user-friendly interface and efficient delivery network, providing a diverse choice of products with rapid delivery.

Zomato distinguishes out for its vast food delivery options and innovative app features. Hybrid Operations strategy integrates several channels, including mobile apps, websites, and physical stores, to provide customers with a seamless and integrated purchasing experience. Reliance JioMart, Tata BigBasket, and Flipkart are among the key players that have adopted this approach. JioMart stands out for its seamlessly integrated online and offline experiences, including in-store pickup and home delivery. BigBasket offers a smooth shopping experience on both its app and website, as well as additional services such as expedited delivery.

The value of website-based operation stems from its accessibility, which does not require app downloads and can be accessed from any device with an internet connection. It also supports more detailed product information and is SEO-friendly, which helps firms reach a larger audience. Amazon India, Flipkart, and BigBasket are among the industry's leading participants. Amazon India leads with its diverse product offering, user-friendly website, and unique features such as live shopping events.

Considered in this report

• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029

Aspects covered in this report

• Quick Commerce market Outlook with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type

• Food & Groceries
• Stationary
• Personal Care Items
• Small Electronics & Accessories
• Others (Pets, alcohol, gifts & flowers, Medicines)

By Payment Mode

• Cash on Delivery
• Online

By Technology

• Application Based Operation
• Hybrid Operation
• Website Based Operation

The approach of the report:

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases.

After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Quick Commerce industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.


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