Covid-19 catapults Q-commerce channel into mainstream
The quick commerce channel, which delivers food and groceries to consumers in less than one hour and often sub-30 minutes, is currently worth £1.4 billion, according to a new report from IGD.
This also reveals that the estimated size of the opportunity will grow to £3.3 billion in the UK alone.
Simon Mayhew, Head of Online Retail Insight at IGD, says: “Rapid delivery, or quick commerce as it is now known, has been around for some time, but Covid-19 has clearly catapulted its expansion to the point where it’s become a channel in its own right.”
“Its growth is evident in the UK, but also on a worldwide scale, with players like Fancy, Getir, Weezy, Gorillas and Jiffy fast becoming household names.”
According to the report, one in three shoppers in the UK have used, or are interested in using quick commerce and the most common drivers for purchase are food-to-go, top-up shopping and ‘meal for tonight’.
The average age of this shopper is 36 and the main group is young adults living in urban locations.
Rachel Sibson, Retail Analyst at IGD, comments: “Quick commerce is an exciting, fast paced channel which presents a huge opportunity for suppliers, retailers, aggregators and pureplays.”
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