As of 2024, the estimated revenue of quick commerce amounted to over three billion U.S. dollars in India. The revenue is likely to increase by about nine billion dollars by 2028. The addition of quick commerce has changed the e-commerce landscape, especially in the grocery segment.
Surging demand drives market expansion
The gross merchandise value (GMV) of quick commerce in India has shown consistent growth, reaching 2.8 billion in 2023. This rising trend in GMV highlights the growing consumer demand for swift delivery services, setting the stage for further market expansion. The sector's growth is further evidenced by the increasing number of monthly transacting users, which surpassed eight million, representing a 46 percent year-over-year increase.
The competitive landscape evolves rapidly
As the quick commerce market is evolving, competition among key players is intensifying. Zomato-Blinkit currently leads the market, but newer entrants like Zepto are making significant strides. Zepto's market share jumped from 15% in 2022 to approximately 30% in 2024, showcasing the dynamic nature of the industry. This shifting competitive landscape is driving innovation and improving service quality, ultimately benefiting consumers and contributing to the sector's overall growth trajectory.
Revenue of quick commerce across India from 2019 to 2028
(in million U.S. dollars)
Data provided by Statista Market Insights are estimates.
Definition:
The Quick Commerce market focuses on online grocery delivery services that provide customers with last-mile delivery (Instacart), or operate ghost stores where product selection is limited but delivery time is faster (e.g. Gorillas, Getir and Glovo). In this case, the platform handles the delivery process. This also includes grocery delivery platforms where delivery is advertised under 3 hours, although, most players advertise to deliver in under 30 minutes.
Additional Information
Revenue figures refer to Gross Merchandise Value (GMV). User and revenue figures represent B2C services.
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Statista. (June 5, 2024). Revenue of quick commerce across India from 2019 to 2028 (in million U.S. dollars) [Graph]. In Statista. Retrieved November 25, 2024, from https://www.statista.com/forecasts/1471912/india-quick-commerce-revenue
Statista. "Revenue of quick commerce across India from 2019 to 2028 (in million U.S. dollars)." Chart. June 5, 2024. Statista. Accessed November 25, 2024. https://www.statista.com/forecasts/1471912/india-quick-commerce-revenue
Statista. (2024). Revenue of quick commerce across India from 2019 to 2028 (in million U.S. dollars). Statista. Statista Inc.. Accessed: November 25, 2024. https://www.statista.com/forecasts/1471912/india-quick-commerce-revenue
Statista. "Revenue of Quick Commerce across India from 2019 to 2028 (in Million U.S. Dollars)." Statista, Statista Inc., 5 Jun 2024, https://www.statista.com/forecasts/1471912/india-quick-commerce-revenue
Statista, Revenue of quick commerce across India from 2019 to 2028 (in million U.S. dollars) Statista, https://www.statista.com/forecasts/1471912/india-quick-commerce-revenue (last visited November 25, 2024)
Revenue of quick commerce across India from 2019 to 2028 (in million U.S. dollars) [Graph], Statista, June 5, 2024. [Online]. Available: https://www.statista.com/forecasts/1471912/india-quick-commerce-revenue
