Everything You Need to Know About Quick-Commerce
Ecommerce is expanding significantly on a global scale, offering more opportunities for business operators.
Given the large demand for Quick Commerce, which is expected to be worth more than 74 billion dollars in the Middle East and North Africa, Q-Commerce may be one of the most well-known e-commerce growth models to date.
Quick Commerce relies on having tiny, dark stores close to clients so that goods may be shipped there in a matter of hours or days and arrive in record time for the fastest fulfillment.
Keep reading to get a complete understanding of quick Commerce, along with tips and best practices.
What is Quick Commerce?
Quick Commerce is the next stage in the development of the eCommerce model. And as the name implies, it’s all about speed.
Quick Commerce (also known as Q-Commerce) is the delivery of goods via Dark stores located close to the customer within a few hours or days. These dark stores, previously used for storefronts, have been shut down and transformed into warehouses used specifically for order fulfillment operations.
In retrospect, quick Commerce is nothing new. It has long been utilized in the fast-food sector. It was just a question of time before customers could obtain other things delivered directly to their doorstep thanks to eCommerce firms’ continual reductions in delivery times.
What are the components of Quick e-commerce?
Dark stores
Dark stores are locations that serve as micro-fulfillment hubs, distribution centers, or eCommerce warehouses. Dark stores receive their name because they are dark, closed to the general public, and solely utilized to fill online orders.
These stores are situated in crucial locations that are geographically accessible to consumers and where most potential customers are concentrated. Due to the dark stores’s location in communities and residential regions, its area may be (100 m2, 200 m2, or up to 500 m2) smaller than that of the major stores.
Fast shipping
Shipping goods from warehouses and delivering them via quick shipping to customers’ doors is the second biggest component of Q-commerce.
Packages delivered in five working days were perfectly acceptable even a few years ago. However, people are no longer willing to wait very long for such delivery because of how things have changed. According to 62% of buyers, delivery time is among the most important considerations they have when making an online purchase.
24*7 delivery
Thanks to Q-commerce, customers can also have their items delivered whenever is most convenient for them. Customers are not subject to any time constraints. The service provides real-time, frictionless transactions and is accessible around the clock. People feel more at ease, as a result, knowing that their favorite things are always available.
Surprisingly, nighttime ranks as the busiest time for internet purchases. Between 8 and 9 PM, most people search for things on the internet. The fact that there is such a big volume of sales in the late hours clearly shows that q-commerce companies will find success with a solid around-the-clock operation.
What are the main types of shipping?
Standard shipping
This involves sending out orders between three to seven working days after the consumer places the order, after which the customer can be given a tracking number.
Express delivery
It involves sending goods from conventional merchant stores close to customers and delivering them quickly and inexpensively to the customer’s door.
International delivery
The majority of international shipments of goods are made by air. However, the merchant must be informed of the shipping regulations in each country and the specifications for each product.
What are the types of e-commerce?
Regular Ecommerce
Traditional e-commerce is an online store that offers many types of products that are stored in large warehouses and shipped to customers in a time ranging from 3 to 7 days.
Q-commerce
The Quick Commerce model is to offer unique products in high demand that are stored in small dark stores close to the consumer, which increases the speed of delivery.
Q-commerce overview
Although Quick e-commerce is anticipated to grow significantly in the Middle East and North Africa region, Saudi Arabia, the United Arab Emirates, and Egypt will control most of this market.
95% of customers in Saudi Arabia and the UAE use express delivery platforms when ordering things online. Many of them would prefer same-day delivery even if the total cost is higher.
Innovative cloud services and solutions like Parrod help local brands transition to Quick Commerce.
This is done by offering various flexible options, starting with map technology that can accurately pinpoint a customer’s location and pass it on to the shipping company. Other features include choosing the best shipping company to serve the merchant and offering high transparency to find the best prices.
Globally, annual spending by Amazon Prime members is four times that of the typical consumer. Additionally, compared to before, e-commerce customers now prefer same-day delivery (66%), delivery at the end of the week (67%), and tracking service (82%). Several well-known Chinese electronic retailers moved small shops in some Arab Gulf nations to offer quick shipping choices.
Not much has changed since Nike moved away from distributors and toward direct sales in the traditional market. Quick Commerce is currently valued at 363 billion dollars in the United States alone, and it is anticipated that this figure will increase to 455 billion dollars over the next few years.
What are the advantages and benefits of fast e-commerce?
Quick Commerce helps businesses enter a new market and target various customer segments by giving them a contemporary and innovative business model. The following bullet points provide an overview of quick Commerce and its benefits:
- Increase the conversion rate and save the customer time.
- Providing a convenient shopping experience that increases customer loyalty.
- Reducing overhead and logistical costs.
- Marketing diverse and different products.
- Reaching new customer segments.
How to move towards Quick Commerce?
Be in close proximity
Without dark stores or warehouses close to customers, a quick e-commerce model is not feasible. These locations let the merchant send products using the fastest shipping option at the most affordable price.
Provide a Cloud Shipping Solution
Platforms for cloud logistics services (SaaS) are advancing the e-commerce industry by facilitating a smooth and straightforward transition for local firms to Quick Commerce.
Are you trying to find the perfect shipping partner?
Join the Torod platform, which links businesses and online retailers with couriers and storage facilities in three minutes. Torod also gives you access to a cutting-edge digital system that makes it simple to control the shipping procedure.
Final Thoughts
The market for quick Commerce is still developing and is about to peak. It’s likely to be even more profitable in the upcoming years than it is now.
Similar businesses will soon overrun the market, making it very difficult to stand out from the crowd. The industry still needs to fill the gaps for the time being. But now one knows how long this scenario will last.
That means to maintain your competitive edge, you should start investing in Quick Commerce right away.