Quick commerce refers to delivering groceries and everyday essentials to customers within a few hours of order placement. It aims to provide an even faster experience as compared to one-day delivery offered by regular e-commerce platforms. Quick commerce utilizes proximity-based technology and relies on dense urban infrastructure to store inventory closer to customers. Products are available for purchase through mobile apps or websites and orders get delivered within narrow time slots. Key players operating proximity-based warehouses in dense urban locations help retailers reduce delivery times. The growing preference for on-demand deliveries among time-constrained consumers is a major factor driving the adoption of quick commerce in Europe.
The Global Europe Quick E-Commerce (Quick Commerce) Market is estimated to be valued at US$ 5.59 Bn in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 to 2030.
Key Takeaways
Key players: Key players operating in The Europe Quick Commerce Market are Motorola Solutions, ABB, Everbridge, Hexagon, IBM, General Electric, Siemens, Honeywell, Huawei, Cisco, Microsoft, Rockwell Collins, Saab, Ericsson, Harris Corporation, Motorola Solutions, NEC Corporation, Lockheed Martin, TCS, and Atos.
Growing demand: The rising internet and smartphone penetration coupled with busy consumer lifestyles has increased the demand for fast on-demand deliveries of daily essentials.
Global expansion: Leading quick commerce players are expanding to numerous new cities and countries in Europe to tap into the large untapped market. The market is also witnessing the entry of several new startups to cater to the growing demand.
Market drivers: The main driver for the quick commerce market in Europe is the demand for convenience and speed from time-constrained consumers. Other drivers include the preference for contactless delivery amid the COVID-19 pandemic, and availability of flexible delivery windows. Investments from venture capital firms are also helping in expanding the warehousing infrastructure needed for quick delivery of goods.
Here is 311 words content on how current geopolitical situation is impacting the growth of Europe Quick E-Commerce (Quick Commerce) Market:
The growth of Europe Quick E-Commerce (Quick Commerce) Market is impacted by the current geopolitical tensions and uncertainties in the region. The ongoing conflict between Russia and Ukraine has disrupted supply chains and logistics networks across Eastern Europe. It has led to rise in fuel and transportation costs which is negatively impacting the quick commerce services and delivery timelines. Additionally, sanctions on Russia by European Union and other Western nations have created economic uncertainties. This is decreasing consumer spending power and demand for online quick commerce services in many Eastern European nations.
Further, rising nationalism and protectionist policies in some Western European countries are making cross-border quick commerce operations challenging. Establishing regional warehouses and fulfillment centres near customer locations becomes difficult. Future strategies of quick commerce companies need to focus on developing localized infrastructure and supply networks to overcome cross-border hurdles. Collaboration with local logistics players also becomes crucial to ensure timely deliveries. Companies also need to adopt dynamic and resilient operational models to minimize impact of geopolitical risks on their business growth and expansion plans in the region.
Geographical regions where Europe Quick E-Commerce (Quick Commerce) Market in terms of value is concentrated:
Currently, Western European countries like United Kingdom, Germany, France and Netherlands account for over 65% of the total value of Europe Quick E-Commerce (Quick Commerce) Market. High smartphone and internet penetration coupled with rising consumer demand for ultra-fast deliveries of daily essentials are driving the quick commerce boom in these nations. Major cities like London, Berlin, Paris, Amsterdam have emerged as top revenue generators as they offer huge potential customer bases. These countries are early adopters of new technologies which is encouraging large investments by global as well as regional quick commerce players to solidify their presence. With strong economies, widespread infrastructure and high per capita incomes, Western European nations provide lucrative expansion opportunities. In the coming years, value contribution of these geographical regions in overall Europe market is expected to further increase supported by ongoing sectoral collaborations and innovations.
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The Rapid Rise of On-Demand Delivery: Europe Quick E-Commerce (Quick Commerce) Market will grow at highest pace owing to increasing consumer demand for hyperlocal deliveries
Posted 2024-03-07 12:27:54
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