9 Sept 2024
Zomato’s Blinkit, Zepto, and Swiggy Instamart hold over 90% of the q-commerce market share.
The q-commerce industry is expected to log a gross order value of USD10 billion by FY26 and surpass USD78 billion in the next decade. This market is estimated at USD 662 billion in FY24, which is 66% of the total retail market. At a 3% net profit margin, the industry could accumulate a profit of USD 2.3 billion in the next ten years.
The sector’s expansion into new services, including high-end electronics, is spiking the average order values and improving economics.
The fragmented retail market, fast urbanisation, and the q-commerce industry’s ability to bypass the middlemen make it an alternative to local kiranas.
Inspired by this growth, logistics companies like Shadowfax, Ecom Express, and Loadshare are starting to offer superfast deliveries. Delhivery, the third largest e-commerce logistics provider in India, announced its plans to open a series of dark stores offering same-city deliveries within two to four hours.