E-commerce revolutionized shopping by enabling consumers to place any order online without leaving their homes. If delivery efficiency and convenience had already gained relevance in the last few years, the COVID-19 pandemic created the perfect storm to drive forward a new generation of e-commerce that puts speed at the center of the equation.
In the wake of the coronavirus pandemic, e-commerce on-demand and instant delivery emerged as one of the most sought-after logistics services globally. Placing immediacy at the forefront, quick commerce offers to deliver orders almost in real time, usually in less than an hour or as quickly as twenty minutes. To meet these
exigent delivery times, retailers in the sector rely on strategically-located fulfillment hubs - commonly known as “
dark stores” – and a two-wheeled delivery team.
A phenomenon echoed worldwide
Whether to replenish a couple of essentials that ran out, buy missing ingredients for dinner, or indulge in a spontaneous treat, quick commerce aims to complement, rather than replace, grocery shopping. The concept gained traction in all corners of the world, garnering over 400 million
q-commerce users globally in 2022. Quick commerce became characterized by waves of riders populating the urban landscape of major European and American cities, carrying delivery backpacks from competing brands in the sector. Berlin alone had two homegrown q-commerce startups, Gorillas and Flink, both founded in 2020 amid the pandemic. Both companies secured
billions of dollars in funding in just a few months. Another major player in the quick commerce market is Istanbul-based Getir, which raised close to two billion U.S. dollars in funding as of 2023. In the United States, Gopuff outdid competitors in the quick commerce market, with more than 3.4 billion U.S. dollars in funding. In 2022, the quick commerce market in the United States generated more than 21 billion U.S. dollars in
revenues, nearly three times the size of the
European quick commerce market that same year.
A challenging road ahead?
Quick commerce has enjoyed growing popularity among consumers, but it might take some time for companies in the sector to
achieve profitability. According to estimates, European startups focused on near-instant delivery would need to quadruple the volume and, simultaneously, double the value of daily orders if they want to make a profit. Delivery fees are another way to generate revenues, but this solution could prove to be counterproductive as consumers around the globe struggle with a cost-of-living crisis. In 2023, inflation was the
leading issue impacting online shoppers worldwide, with the food and beverage category
particularly affected by rising prices. These challenging macroeconomic conditions have already instigated waves of
mass layoffs as well as multiple
mergers and acquisitions in the food delivery industry. Many startups that sprung up during the pandemic scramble to survive a post-pandemic era characterized by stagflation and falling demand.
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