New Delhi
India’s quick commerce industry has seen rapid growth, with sales rising by over 280% in the past two years, according to a report. The Gross Merchandise Value (GMV) of quick commerce increased from USD 0.5 billion in FY22 to USD 3.3 billion in FY24, reflecting a significant surge.
Quick commerce, which focuses on the rapid delivery of small orders, is expanding at a much faster rate than traditional e-commerce. While the e-commerce sector in India is growing at an annual rate of 14%, quick commerce has grown by 73% in FY23-24, showing a shift in consumer preference for faster delivery options.
In 2024, the quick commerce market in India is valued at USD 3.34 billion and is expected to reach USD 9.95 billion by 2029, with a compound annual growth rate of 4.5% over the forecast period. Despite this, the sector remains relatively untapped, with only 7% penetration of a total addressable market valued at USD 45 billion.
To tap into this potential, quick commerce platforms are increasingly collaborating with manufacturers for direct sourcing, bypassing traditional distributor networks to streamline operations and reduce costs. The platforms’ tech infrastructure also focuses on improving operational processes, ensuring faster deliveries.
As the industry continues to grow, quick commerce is expected to play an increasingly significant role in India’s retail landscape, offering faster, more efficient delivery options to meet rising consumer demand.
