Q-commerce

Q-commerce, which is also known as rapid commerce, is a subcategory of e-commerce in which the emphasis is placed on making deliveries as quickly as possible, generally in less than an hour. Q-commerce had its start in the delivery of food, and to this day, that service still accounts for the majority of the company's revenue. It has rapidly grown into other areas, including the delivery of groceries, pharmaceuticals, presents, fashion, and other goods, among other things. Since the beginning of 2020, the limits that were implemented as a result of the COVID-19 epidemic provided a significant boost to q-commerce. These constraints made it possible for businesses to continue operating by providing customers with speedy home delivery. Because of these ongoing limits, there has been a movement in the long-term customer behaviour towards speedy delivery, which has led to the establishment of q-commerce as the third generation of commerce.

Meituan, Gojek, Grab, Delivery Hero, Glovo, Rappi, GoPuff, Instacart, and Postmates are all examples of businesses that participate in q-commerce.

The growth of rapid commerce began in 2011, with firms like as Postmates; however, it wasn't until approximately 2017 that the industry began to acquire size and momentum as a result of the expansion of companies such as Delivery Hero and Meituan into the region.

Initially, delivery times averaged approximately 60 minutes, but by 2019, a number of businesses have begun local warehouse ideas (cloud shops or dark stores) in an effort to reduce delivery times to within 20 minutes.

This rapidly expanding market segment caters specifically to homes consisting of a single occupant by providing a wide variety of items that may be purchased at any time of day. The present valuation of the Q Commerce industry is thought to be $300 million, with projections indicating that it will increase by 10 to 15 times during the next five years to reach $5 billion.