Quick Commerce - BRICS

BRICS

Highlights

The Quick Commerce market in BRICS is projected to reach a revenue of US$86.69bn by 2024.
This market is expected to show an annual growth rate (CAGR 2024-2029) of 10.21%, resulting in a projected market volume of US$141.00bn by 2029.
The number of users in the Quick Commerce market is also expected to increase, reaching 535.3m users by 2029.
User penetration, which measures the proportion of users in the market, is predicted to be 10.7% in 2024 and is expected to reach 15.9% by 2029.
The average revenue per user (ARPU) is estimated to be US$246.60.
In terms of global comparison, China is projected to generate the highest revenue in the Quick Commerce market, with US$80.84bn in 2024.
Furthermore, China will have the highest user penetration rate in the Quick Commerce market, projected to be 21.4%.
In Brazil, the quick commerce market is booming with the rise of online grocery delivery services and the convenience of on-demand food delivery apps.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Quick Commerce, also known as Q-Commerce, is a relatively new concept in the retail industry that offers ultra-fast delivery of products to customers. This market is rapidly growing in BRICS, the group of emerging economies that includes Brazil, Russia, India, China, and South Africa.

Customer preferences: One of the main reasons for the growth of the Quick Commerce market in BRICS is the changing preferences of customers. With the rise of e-commerce, customers are increasingly looking for faster delivery options. Quick Commerce provides a solution to this demand by offering delivery within a few hours of placing an order. Additionally, the convenience of ordering products from a mobile app and the ability to track the delivery in real-time are also appealing to customers.

Trends in the market: In Brazil, the Quick Commerce market is dominated by food delivery services, with companies like iFood and Rappi leading the way. These companies have expanded their offerings to include grocery delivery and other essential items. In Russia, the market is seeing a rise in online marketplaces that offer a wide range of products, including electronics and household items. India is experiencing a boom in the Quick Commerce market, with companies like Swiggy and Zomato leading the way in food delivery services. In China, the market is dominated by e-commerce giants like Alibaba and JD.com, who have expanded their offerings to include Quick Commerce services. South Africa is also seeing growth in the Quick Commerce market, with companies like Mr D Food and Uber Eats leading the way in food delivery services.

Local special circumstances: Each country in the BRICS group has its own unique set of circumstances that are contributing to the growth of the Quick Commerce market. In Brazil, the market is being driven by a growing middle class and an increase in smartphone usage. In Russia, the market is being driven by a lack of physical retail options in many regions and a growing e-commerce industry. In India, the market is being driven by a young population that is increasingly using smartphones and the internet. In China, the market is being driven by a large population and a government that is supportive of the e-commerce industry. In South Africa, the market is being driven by a growing middle class and an increase in urbanization.

Underlying macroeconomic factors: The growth of the Quick Commerce market in BRICS is also being influenced by underlying macroeconomic factors. These include factors such as GDP growth, inflation, and government policies. In Brazil, the market is benefiting from a stable economy and government policies that are supportive of the e-commerce industry. In Russia, the market is benefiting from a growing economy and a government that is investing in infrastructure. In India, the market is benefiting from a government that is supportive of the e-commerce industry and a growing middle class. In China, the market is benefiting from a large population and a government that is investing in technology and infrastructure. In South Africa, the market is benefiting from a stable economy and a growing middle class. In conclusion, the Quick Commerce market in BRICS is growing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As the market continues to grow, it is likely that we will see new players enter the market and existing players expand their offerings to include new products and services.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.