Rapid Rise of Quick Commerce in India

India’s **quick commerce** sector is on a remarkable upswing, with sales skyrocketing by an astounding 280% in just two years, as highlighted by a recent report from **Chryseum**, a reputable financial services firm.

Staggering Growth in Gross Merchandise Value

The report reveals that the **Gross Merchandise Value (GMV)** of quick commerce in India rocketed from a mere ₹0.5 billion in FY22 to an eye-popping ₹3.3 billion in FY24. This represents a phenomenal 280% increase that truly showcases the evolution of consumer needs!

Quick Commerce vs. Traditional E-Commerce

Defined as the swift delivery of small orders in record time, **quick commerce** is outpacing traditional e-commerce at a breath-taking rate. While India’s e-commerce sector enjoys an annual growth rate of 14%, quick commerce is experiencing a dazzling 73% annual growth rate for FY 2023-24. This shift points to a significant change in consumer preferences, favoring quicker and more convenient delivery solutions.

Future Projections Look Bright

The quick commerce market is currently valued at USD 3.34 billion in 2024, with an impressive projection to reach USD 9.95 billion by 2029. This growth translates to a **compound annual growth rate (CAGR)** of over 4.5% during the forecast period of 2024-2029. “The **Quick Commerce Industry in India** market size is estimated at **USD 3.34 billion** in 2024, expected to hit **USD 9.95 billion** by 2029,” the report stated, reiterating the sector’s immense potential.

Significant Untapped Potential

Despite its explosive growth, the **quick commerce** sector still has a way to go, with a penetration rate of only 7% of its total addressable market valued at USD 45 billion. This revelation indicates a treasure trove of opportunity for further expansion, as quick commerce is already outpacing the **food delivery market** size.

Strategic Partnerships for Success

To seize this golden opportunity, quick commerce platforms are increasingly engaging in partnerships with manufacturers for direct sourcing. By bypassing traditional distributor networks, they can streamline operations, cut costs, and present more competitive pricing to consumers. “Quick Commerce platforms are partnering with manufacturers for direct sourcing, to bypass the traditional distributor network,” remarked the report.

Innovation Driving Efficiency

Moreover, the technological infrastructures of quick commerce platforms are continually evolving to bolster operational efficiency, enhancing agility and speed along the value chain. These innovative approaches are empowering these platforms to deliver swiftly and efficiently, catering to the rising demand for instant deliveries across India.

Looking Ahead

As this exciting industry further develops, experts believe that quick commerce is poised to become an increasingly pivotal player in the **Indian retail landscape**. The future is indeed looking bright for this electrifying segment!