by The UK Quick E-commerce (quick commerce) Market is estimated to be valued at US$ 6.21 billion in 2023 and is expected to exhibit a CAGR of 19.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Quick e-commerce, also known as quick commerce, promises hyperlocal delivery of groceries and everyday essentials within a few minutes to tens of minutes. Powered by mobile applications and micro-fulfillment centers located in dense urban areas, quick commerce startups aim to fulfill delivery promises as fast as possible through vertically integrated operations.
Market Dynamics:
Rising consumer demand for seamless and instant gratification is a key driver of the quick e-commerce market in the UK. Customers now expect lightning-fast delivery of their orders, especially in the on-demand delivery of groceries and household supplies. Another major factor propelling the market growth is the entry of prominent grocery retailers and food aggregators who are establishing their own quick commerce verticals to capitalize on the opportunity. Their large customer base and streamlined operations are helping them rapidly scale up their quick commerce businesses.
Market key trends:
The UK quick e-commerce market has been gaining significant traction over the past few years. One of the key trends driving the market growth is the rising demand for instant grocery delivery services from time-strapped consumers. Due to increasingly hectic lifestyles and busy schedules, people prefer getting their daily essential items delivered to their doorsteps within minutes instead of visiting shops physically. Moreover, the onset of the pandemic has further accelerated this trend as more individuals opted for contactless delivery options for health and safety reasons.
SWOT Analysis:
Strength: The market is characterized by strong growth potential due to rising consumer demand for ultra-fast delivery of food and grocery items.
Weakness: High operating costs associated with maintaining efficient supply chains and fleets of delivery agents remain a major challenge.
Opportunity: Scope for expansion into new cities and geographical areas across the UK presents significant opportunities for market players.
Threats: Stringent regulations around delivery procedures and labour practices can increase compliance costs for companies.
Key Takeaways:
The UK Quick E-Commerce Market Demand is expected to witness high growth, exhibiting CAGR of 19.4% over the forecast period, due to increasing preference for instant delivery among time-pressed urban shoppers.
Regional analysis:
London dominates the UK quick commerce market currently, accounting for over 30% revenue share in 2023. However, cities like Manchester, Birmingham and others are emerging strongly and expected to fuel next phase of market expansion.
Key Players:
Key players operating in the UK quick e-commerce market are Buyk, Cajoo, Everli, Fancy, Weezy, Zoom2U, Deliveroo, Just Eat, Uber Eats, Getir, Gorillas, Flink, Zapp, Jiffy, Weezy, Dija, DoorDash, Stuart, Gopuff, Jokr. Companies are investing in technological advancements and strategic partnerships to strengthen their foothold.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
