Quick Commerce: A New Era in Ecommerce Industry

Though many major industries witnessed the adverse impact on their growth caused by the Corona pandemic, there’s one industry that flourished during this situation. And the industry is none other than eCommerce. According to the report, global eCommerce witnessed a total revenue of $26.7 trillion. It made the eCommerce industry thrive.

Now, post-COVID, the eCommerce industry is once again ready to witness a great boom due to the emergence of ‘Quick Commerce’, which is also known as q-commerce in short form.

Online customers don’t have much patience to wait for products that they place their orders. They need to get the products as soon as possible. Otherwise, there’s the possibility that they may cancel the products that they want to buy. Customers nowadays seek instant delivery rather than waiting for same-day or next-day delivery.

Many online pizza deliveries and grocery stores already adopted quick commerce and thus they quickly fulfill the needs and expectations of their customers. So, if you own an eCommerce business, you need to think about adopting a q-commerce model rather than continuing with the traditional business model opined some best eCommerce developers in Bangalore.

You may be seeking to get the basics of q- ecommerce, right? Take a look.

What is Quick Commerce?

Before getting into details, you need to understand what quick ecommerce is. You need to understand that the recent corona pandemic changed the life of people in every aspect. And they finally adopted a new lifestyle. The pandemic changed their buying patterns. Customers nowadays seek to get products delivered to their doorstep as soon as possible.

Ordering products with complicated methods and waiting for 4 to 5 days for delivery made them frustrated. They want quick gratification. During a pandemic, customers were expecting to get their orders delivered within 15 to 30 minutes.

This is the time when many FMCG and grocery stores decided to adopt the q- ecommerce model. Moreover, quick hyperlocal deliveries and quick commerce not only worked well for helping players in the FMCG sector tap and also grocery tap the vast demand for everyday essentials.

But it also helped them in getting a fully competitive edge by gaining more loyal customers. After this, quick commerce witnessed its fast adoption rate in today’s time.

Q-Commerce vs Ecommerce

As the name suggests, quick e-commerce is a model based on the fast delivery of products. eCommerce, on the other hand, is based on traditional delivery models and it takes 3 to 4 days for product delivery. To explain q-commerce vs eCommerce, we have outlined here numerous factors that help you understand the actual difference between eCommerce and q-commerce. Take a look.

1. Assortment

When it comes to assortment, eCommerce has one product base from the central warehouse. On the other hand, quick commerce includes the assortment from a chosen point of sale. As far as product availability is concerned, it’s something that tends to vary at different points of sale.

2. Completion Time

For eCommerce, business completion time includes 1 to 2 days. For quick commerce, the business includes several minutes and hours.

3. Price List

For eCommerce, there’s one global price list. On the other hand, for Q-commerce, the price list tends to vary at different points of sale.

4. Scope of Services

For eCommerce, the scope of services includes the entire country and also includes many other countries. As far as quick commerce is concerned, its delivery area is generally identified through a particular distance from a specific point of sale. There’s the possibility that customers’ addresses may not support it.

5. Delivery

The traditional eCommerce industry follows a courier system and ensures only the next day delivery. In quick commerce, the delivery is done through a delivery company. Besides, it’s also done through the company’s fleet of drivers. It ensures same-day delivery.

6. Hours for Order Placement

For traditional eCommerce, the order can be placed anytime and any day. Quite the contrary, in quick commerce, one can place an order point of sales hours of operation or also on the following day

7. Track Service Implementation

With eCommerce, one can avail of the facility to gather details about services and they can then track the delivery on the website of the service provider. In Q-commerce, you can sometimes get details about the orders and the location of the courier.

Advantages of Quick Commerce

So, after going through q-commerce vs eCommerce, you may be aware of adopting the new model for your business. If yes, you should also gather more about the advantages of quick commerce. Take a look at some of them.

1. Speed

When it comes to speed, q-commerce has an edge over traditional eCommerce. Those retail stores that adopted the q-commerce business model can easily get products for their customers in less time than possible. It becomes possible due to hyper-local micro- fulfillment centers, which are also popular as dark stores.

These centers are located within 3 km to make orders and thus ensure orders can be delivered faster than traditional eCommerce. Once orders are placed by customers and ready, couriers can easily zip back and forth between different centers and the exact location of customers.

2. 24 Hours Availability

Another great advantage of quick commerce is they are available 24 hours for their customers. They don’t need to follow any time bound or week leave like brick-and- mortar retail stores. Their round-the-clock availability works great with today’s culture of smartphone technology.

3. Guarantee for Availability of Relevant and Necessary Products

Q-commerce is not only a popular and viable option for customers just for quick delivery. But, it also ensures the availability of relevant products. These business models are based on the investment of Artificial Intelligence and various related technologies that are good for analyzing demand and also can adjust inventory in a real-time.

There is various smart and advanced software that can easily find the complete details related to demand patterns and also the way that companies can respond by offering full assurance about the products that are offered accordingly.

Convenient

It’s another factor why q-commerce has become the most preferred option over traditional eCommerce. Customers can easily place an order to buy their favorite products even while doing certain other activities on their smartphones.

Future of the Quick Commerce Industry

Well, Q-commerce is growing by leaps and bounds and has gained a significant edge over traditional eCommerce. Many experts believe that q-commerce will overlap the traditional eCommerce in the coming time and replace it completely. You will come across several predictions made by experts about q-commerce, which indicates that the future of quick e-commerce is bright and will rule the eCommerce industry. We have discussed a prediction here. Take a look.

According to Forbes, Dark stores will lead in the coming time and have a higher possibility to become the most effective option to serve customers. Q-commerce will replace the traditional business model due to norms driven by the demand and expectations of customers.

Final Words

Quick commerce is going to be the future of business models. Some retail stores have already adopted it whereas others are on the way to adopting it. So, if you are a proud owner of an eCommerce store, you should also think about adopting the latest business model to witness the remarkable growth of your business.