Rising trend is attracting several products across multiple sectors such as electronics, fashion, home, furniture, books and newspapers, toys, gifts and flowers, according to new research.
Quick commerce – or speed commerce where deliveries are made under an hour of placing orders – is fast gaining recognition within the e-commerce sector in the Middle East and North Africa (MENA) market, and is projected to reach a market share of seven percent of the $30 billion estimated e-tail market in the region this year, according to new research.
Quick commerce – q-commerce as it is popularly known – accounted for a paltry one percent market share in 2018.
Vast diversification of the delivery baskets of hyperlocal delivery players, and rising patterns of top-up and unplanned purchases among neighbourhood online shoppers, are stoking the surge of q-commerce in the MENA region, which is considered emerging as a more mature market for this segment compared to India and Southeast Asia, experts said.
The rising trend is attracting several products across sectors such as electronics, fashion, home and furniture, books and newspapers, toys, gifts and flowers.
“Historically, e-commerce shoppers were buying from online channels for the stock-up or top-up behavioural trait as delivery typically took two-three days at least. Over the past two years, with e-grocery becoming huge on e-commerce platforms, instant delivery service capabilities have been strengthened by most platforms, leading to the rise of q-commerce in the MENA region,” the latest research report by RedSeer Consulting, a specialised global consultancy for online services, said.
According to RedSeer, the q-commerce segment is expected to reach double digit market share by 2025.
(Except for the headline, this story has not been edited by The Finance World staff and is published from a syndicated feed.)
