by The US quick e-commerce market, also known as quick commerce, has seen rapid growth over the past years with its promise of delivering groceries and daily essentials within an hour. Quick commerce startups operate micro-fulfillment centers near potential customer locations to offer faster delivery compared to traditional e-commerce. From groceries to consumer goods, quick commerce startups aim to fulfill customers’ shopping needs in under an hour through a dense network of neighborhood warehouses.
The US Quick Commerce Market Size is estimated to be valued at US$ 7.5 bn in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2023-2031.
Key Takeaways
Key players operating in the US quick e-commerce market are GoPuff, DoorDash, Uber, Instacart, Postmates, Fridge No More, Buyk, Gorillas, Jokr, and Getir among others. With customers increasingly demanding faster fulfillment times, key players are racing to expand their delivery networks through micro-fulfillment centres located near population hubs. GoPuff leads the market with over 200 micro-fulfillment centres across North America that offer over 3,000 stock keeping units including snacks, beverages, cleaning supplies and more.
Demand for quick commerce services is growing rapidly owing to changing customer preferences towards immediate gratification and convenience. Busy lifestyles have made people rely more on quick delivery of daily essentials rather than making multiple trips to the store. The quick delivery model is gaining traction especially among millennials and Gen Z who are adopting the trend of ordering online.
With growing customer acceptance, quick commerce players are expanding operations globally. After establishing strongholds in the US and European markets, companies are foraying into the Middle East, Asia and Latin America regions with tailored offerings to cater to local customer demands in respective regions. Through continued geographical expansions, market leaders aim to replicate their success from mature markets and solidify their positions as global quick commerce platforms.
Market Key Trends
Micro-fulfilment centers are a key trend enabling quick commerce services by ensuring faster delivery. Leading players setup thousands of these small warehouses within urban neighborhoods that stock daily essential goods. Through predictive algorithms and AI, micro-fulfilment centers can anticipate demand for products specific to a narrow geographic area and fulfill orders much faster. By bringing inventory closer to customers within delivery radii of a few miles, quick commerce players have successfully reduced deliver time to under an hour on average transforming the delivery landscape.
Porter’s Analysis
Threat Of New Entrants: New players find it difficult to enter the market as it requires heavy investments and established brands have strong customer loyalty.
Bargaining Power Of Buyers: Buyers have high bargaining power as they can easily switch between brands for better prices and offers.
Bargaining Power Of Suppliers: Suppliers have moderate bargaining power as supply chains are complex and switching costs for brands are high.
Threat Of New Substitutes: Threat from substitutes is moderate as alternatives like traditional grocery stores and hypermarkets exist but quick commerce offers distinct convenience.
Competitive Rivalry: Intense competition exists among existing players to acquire more customers and market share through discounts, deals and quick delivery times.
Geographical Regions
The US quick commerce market in terms of value is highly concentrated in metropolitan areas like New York, Los Angeles, Chicago, Dallas, etc. where high population density enables sustainable operations.
The Western region of the US is witnessing the fastest growth in the quick commerce market driven by rising adoption of on-demand delivery apps and services in populated cities of California, Washington and Colorado supported by high disposable incomes.
What Are The Key Data Covered In This US Quick E-Commerce Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the US Quick E-Commerce’s growth between 2024 and 2031.
:- Accurate calculation of the size of the US Quick E-Commerce and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- US Quick E-Commerce Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of US Quick E-Commerce vendors
FAQ’s
Q.1 What are the main factors influencing the US Quick E-Commerce?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top US Quick E-Commerce companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the US Quick E-Commerce’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
