The global quick commerce market is forecasted to grow at a CAGR of 12.5% to reach USD 1 trillion by 2027, constituting around 15% of the total online chain retail market.
Nonetheless, against a backdrop of rising costs, weakening consumer confidence, quick commerce start-ups are facing many challenges:
- Increased regulation
- Industry and investor pressure surrounding profitability of the model
- Overcrowding and competition
- Waning consumer confidence for rapid delivery
The team at Ascential Digital Commerce has put together a Quick Commerce Outlook executive summary. Here is a snapshot of some recommendations for brands:
The executive summary covers:
- Future outlook for quick commerce
- How leading brands are approaching quick commerce
Access the executive summary below.