The Speedy Development Of Quick Commerce In Today's Business Sector
What is quick commerce and what are the various modes of quick commerce?
Quick commerce or q-Commerce has emerged as a segment and changed the landscape of the delivery and supply chain industry. It refers to consumables getting delivered almost instantly, whenever and wherever demanded by customers. This concept came to the fore especially during the pandemic which led to the delivery of food, medicines, and groceries within 10- 30 minutes of ordering. With the rise of urbanisation, the number of nuclear or single person households is rapidly growing.
Also, in mega metro cities where storage is a problem, people prefer essentials and necessities delivered in no time rather than having to store or stuff their spaces in advance. Speed and convenience are key in quick commerce. With this, the entire supply chain operations have undergone a paradigm shift. Q-Commerce modes are not just B2C but also affects the B2B and last mile delivery models. The operational delivery radius for q-Commerce is typically a small locality, around 2.5 to 5km. We provide flexibility for our riders to choose their delivery area in close proximity to their base location. This makes the delivery processes faster and more efficient.
Strategizing deliveries, managing and planning inventories, order mapping, optimum utilisation of rider routes and capacities, precise routing, rider-store mapping, and more are some key factors for a good hold and growth for quick commerce
How can businesses grow their customer base with quick commerce?
Crunching the delivery radius, is key to the quick commerce model. Since the deliveries are done within minutes, order requests are also high in number. Capturing customers location via latitude and longitude is very critical, using which delivery executives can navigate via fastest route to drop location, thereby reducing time calling the customers on asking for locations. Also, the customers are getting guaranteed availability of products; the high demand items are always available in the stores. The back-end team of the stores use AI technologies to monitor the demand for each product and accordingly work on the inventories in real time. Q-commerce works in the super hyperlocal model and use of micro warehousing. Strategizing deliveries, managing and planning inventories, order mapping, optimum utilisation of rider routes and capacities, precise routing, rider store mapping, and more are some key factors for a good hold and growth for quick commerce.
What are the steps for availing quick commerce services?
To avail quick commerce services, one needs to choose the right time and location in the delivery option while ordering. The back-end team handling the operations plays a major role here. They need to provide delivery executive with accurate entry and exit points for large societies and commercial buildings. This will empower and educate the two-wheeler riders to get accustomed to the assigned area.
Please state your experience in quick commerce.
I see quick commerce as a new trend in the industry, and there are a lot of opportunities to grow the customer base and generate opportunities for gig workers. With the rise in quick commerce, data and technology have a crucial role in providing on-time delivery with real time updates. This makes the collaboration between the customer and delivery executive effortless and transparent. With quick commerce the pressure is on delivering products on time and this also raises concern for providing the products intact without any damage and the safety of the delivery executives. We are undertaking quick commerce deliveries for most of our clients in the metros. We are heavily using technology and expanding on this leg of deliveries.
What is the future of quick commerce?
Quick commerce is here to stay and has a huge untapped potential. A RedSeer survey states the quick commerce market in India is set to touch $5.5 billion in market size by 2025 and is growing 15 times its current size. We believe the actual market would even cross that. And with that, we shall see evolutions in real time and smart inventory tracking, AI and ML heavily dependent last mile delivery execution, and greater dependency on a flexible last mile fleet model.
All in all, catering to the customer behaviour for convenience will be at the centre and building robust, sustainable business models will be crucial. While the already evolved same day or next day grocery models will always remain and become free delivery models, quick commerce will eventually start charging customers a delivery fee for the added convenience in form of instant deliveries at their doorstep.