Indian Quick Commerce Market to Hit $30 Billion by FY30: Report
In a significant development for the Indian e-commerce sector, a recent report by Bessemer Venture Partners has projected that the country’s quick commerce market is set to grow from $5 billion in FY25 to $30 billion by FY30. This remarkable growth is attributed to the increasing demand for instant gratification and the emergence of a digitally savvy, middle-class population with rising discretionary income.
The report highlights that India’s quick commerce market is poised to become the largest in the world, driven by the country’s unique “mobile-first” consumption pattern. This phenomenon is characterized by the widespread adoption of mobile phones, which has led to a significant shift in consumer behavior, with more and more people opting for instant ordering and delivery of goods and services.
The growth of the quick commerce market is expected to be fueled by a combination of factors, including the increasing popularity of online shopping, the emergence of new business models, and the growing demand for convenience and speed. With the rise of mobile-first consumption, consumers are increasingly looking for services that can deliver products quickly and efficiently, which is driving the growth of the quick commerce market.
The report also notes that India’s overall e-commerce market is expected to reach $300 billion by 2030, accounting for 17% of the total retail market. This growth is expected to be driven by the increasing adoption of digital payments, the rise of social commerce, and the emergence of new business models.
The quick commerce market is expected to play a significant role in driving this growth, with the report predicting that the market will account for 10% of the total e-commerce market by FY30. This growth is expected to be fueled by the increasing demand for instant ordering and delivery, as well as the emergence of new business models and technologies.
The report also highlights the key players in the quick commerce market, including Swiggy, Zomato, and Dunzo, which have been at the forefront of this trend. These companies have been able to capitalize on the growing demand for quick commerce by offering a range of services, including food delivery, grocery delivery, and package delivery.
In addition to the quick commerce market, the report also highlights the growth of other segments of the e-commerce market, including the growth of social commerce, which is expected to reach $10 billion by FY30. Social commerce is a relatively new trend, which involves the use of social media platforms to purchase goods and services. This trend is expected to continue to grow in the coming years, driven by the increasing adoption of social media and the emergence of new business models.
The report also notes that the growth of the e-commerce market is expected to be driven by the increasing adoption of digital payments, which is expected to reach $100 billion by FY30. Digital payments have become an essential part of the e-commerce experience, and the growth of this market is expected to be driven by the increasing adoption of mobile wallets, UPI, and other digital payment methods.
In conclusion, the report by Bessemer Venture Partners highlights the significant growth potential of the Indian quick commerce market, which is expected to reach $30 billion by FY30. This growth is expected to be driven by the increasing demand for instant gratification, the emergence of a digitally savvy, middle-class population with rising discretionary income, and the growth of other segments of the e-commerce market, including social commerce and digital payments.
