Sector focus: Quick commerce in a sweet spot – Here’s what’s driving it

Quick commerce is already a $3.5 billion market and is projected to grow at over 40 per cent CAGR for the next 4-5 years to reach close to $9 billion by 2028. Quick commerce, a sub-class of e-commerce, has benefitted from rising shopping frequency and extra commercial time post orders. Loyal quick commerce consumers shop on an average of 10-12 times a month, purchasing mostly groceries while products within beauty & personal care, household care, kitchen appliances, and gifting items are gradually gaining traction. Unlike the browsing-heavy nature of platforms like Amazon and Flipkart, quick commerce consumers exhibit a distinct behaviour – they often know exactly what they want. Here are key trends in the quick commerce space, as listed by Elara Capital…