April 22, 2024
Europe Quick E-Commerce Market
Ict

Europe Quick E-Commerce Market Set to Grow at a High Pace due to Surging Demand for Online Grocery Delivery Services

The Europe quick e-commerce market is gaining traction owing to rising demand for immediate fulfillment of online orders from consumers. Quick commerce refers to the delivery of grocery and daily essential items within a few minutes to an hour through a hyper-local logistics strategy. The emergence of local dark stores and fulfillment centers operated by quick commerce startups help timely delivery of products to customers. The quick delivery model brings convenience and a superior shopping experience to customers.

The global Europe quick e-commerce market is estimated to be valued at US$ 5.59 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2030.

Factors such as increasing popularity of online grocery shopping and demand for faster delivery are fueling market growth. Quick e-commerce platforms provide customers with real-time order tracking, easy payment options, and flexible delivery schedules. The on-demand delivery model opens new opportunities for both retailers and consumers in the region.

Key Takeaways
Key players: Key players operating in the Europe quick e-commerce market include Motorola Solutions, ABB, Everbridge, Hexagon, IBM, General Electric, Siemens, Honeywell, Huawei, Cisco, Microsoft, Rockwell Collins, Saab, Ericsson, Harris Corporation, Motorola Solutions, NEC Corporation, Lockheed Martin, and TCS.

Key opportunities: Growing demand from millennials and working professionals with busy lifestyles offers significant scope for quick commerce platforms. Collaboration with retail stores and restaurants helps increase delivery coverage and improve economies of scale.

Global expansion: Leading quick commerce companies are expanding to new cities and countries to leverage first-mover advantage. Partnerships with logistics providers facilitate international expansion plans and consolidation of market share globally.

Market drivers
The primary driver for The Europe Quick E-Commerce Market is the surging demand for online grocery delivery services. Busy work schedules and reduced time for shopping have made convenience a top priority. Quick delivery fulfills this need instantly. Moreover, COVID-19 pandemic accelerated online grocery adoption in Europe as people avoided crowded stores due to health risks. The fast-paced lifestyle has further augmented the uptake of quick and hassle-free commerce platforms in the region.

PEST Analysis
Political: The governments in Europe are focusing on lowering restrictions for the quick e-commerce sector and providing supportive policies to boost the adoption of quick delivery services. This will help the market grow.

Economic: The stable economic conditions and rising disposable incomes in European countries is driving the demand for quick delivery of goods. Consumers prefer on-demand delivery as it saves their time.

Social: Younger consumers are adopting online shopping and looking for immediate fulfillment of their needs. The busy lifestyles have increased the preference for quick deliveries within an hour.

Technological: Companies are investing heavily in developing advanced technologies like AI, IoT, and automation to optimize operations for sub-hour deliveries. Drone deliveries and autonomous vehicles are being tested to further reduce delivery timelines.

Geographical Concentration
The quick e-commerce market in Europe is concentrated majorly in Western European countries like the UK, Germany, France, Italy, and Spain in terms of value. These countries have established logistics infrastructure and a strong preference for fast delivery among urban consumers.

Fastest Growing Region
Central and Eastern European countries like Poland, Czech Republic, Hungary are witnessing the fastest growth for the quick e-commerce market. These developing nations are seeing investments to build local fulfillment centers and fleet implementation. The growing youth population inclined towards online shopping is propelling the demand. Increased penetration of smartphones will further augment the adoption of quick delivery services in Central and Eastern Europe.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it