As per their “India Q-Commerce Market” report, the global market was valued at ~USD 2.3 billion in 2023, growing at a CAGR of about 28.1% during the forecast period from 2024-2032 to reach USD billion by 2032.

The quick commerce (q-commerce) market in India is dynamic and growing which can be attributed to giants key players who are growing phenomenally due to innovations, partnerships, and expansion. Here’s a detailed look at some of the major developments from prominent players shaping the landscape:

1.      ZOMATO:

Expansion of Zomato Instant: Zomato has entered a new realm by starting Zomato Instant which offers them groceries and essentials in 10-30 minutes. It relies on dark stores located in populous areas as this service.

Partnerships and Acquisitions: It has been sourcing local delivery startups to strengthen its logistics capabilities and diversify its services in q-commerce.

2.      SWIGGY:

Launch of Swiggy Instamart: Entrance into Q commerce – Instamart by Swiggy has been conveyed by the delivery service signifying fast groceries and other essentials. It is always developing products to enhance consumers’ experience any time they are using the application.

Technological Investments: AI and machine learning are two aspects that Swiggy is willing to invest in for improved delivery of services and routes and keeping up the stocks as well.

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3.      BLINKIT (FORMERLY GROFERS):

Rebranding and Focus Shift: Blinkit has committed to rebranding its business, which is mainly centered around a fast delivery business model. The company’s goal is to bring grocery delivery in ten minutes; to improve the users’ experience, the firm has redesigned its application.

Expansion of Dark Stores: Blinkit has been rampantly opening new dark stores in various cities to improve the convenience and service provided in urban environments.

4.      DUNZO:

Hyperlocal Delivery Model: Dunzo offers deliveries of all sorts of goods and is more focused on hyperlocal deliveries of groceries, food, medicines, etc. They have increased the range within which they deliver and diversified their services tremendously.

Funding and Partnerships: Dunzo has received additional funds in recent funding rounds, which will help the company expand to other small cities and invest in technology that can enhance the logistics process.

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Recent developments in the market:

·      In August 2024, Flipkart launched a quick commerce vertical called 'Minutes', exclusive to Bengaluru.

·      In July 2023, Swiggy acquired Lynk Logistics by buying a stake from Ramco Group. Lynk will continue to operate as an independent business. With this acquisition, Swiggy entered India's food and grocery retail market.

·      In June 2022, Zomato acquired Blinkit (formerly Grofers) for USD 568 million in an all-stock deal.

Conclusion

The market of q-commerce is going through changes in India and new innovative companies are entering this market. In this way by implementing the IT resources the businesses are going for the service diversification and modification of delivery channels to satisfy the customer demands for quick delivery. The prospect of a further and ongoing increase in competition, therefore, suggests that optimization of delivery channels, customer processes, and value channels will be of rising significance in this changing industry. According to the Univdatos  analysis, increased internet penetration, rising urbanization, and rapid digital transformation will drive the scenario of the Indian Q-commerce market.

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