Definition:
The Quick Commerce market focuses on online grocery delivery services that provide customers with last-mile delivery (Instacart), or operate ghost stores where product selection is limited but delivery time is faster (e.g. Gorillas, Getir and Glovo). In this case, the platform handles the delivery process. This also includes grocery delivery platforms where delivery is advertised under 3 hours, although, most players advertise to deliver in under 30 minutes.Additional Information
Revenue figures refer to Gross Merchandise Value (GMV). User and revenue figures represent B2C services.Notes: Data reflects market impacts of the Russia-Ukraine war.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data reflects market impacts of the Russia-Ukraine war.
Most recent update: Jul 2024
Source: Statista Market Insights
Quick Commerce, also known as Q-commerce, is a rapidly growing sector in Ecuador. The market has seen a significant increase in demand over the past few years, with more and more consumers turning to online shopping for their daily essentials.
Customer preferences: Ecuadorian consumers are increasingly looking for convenience and speed when it comes to their shopping needs. With the rise of Q-commerce, consumers can now order groceries, household items, and other essentials with just a few clicks on their smartphones. This has led to a shift in consumer behavior, with more people opting for online shopping over traditional brick-and-mortar stores.
Trends in the market: One of the biggest trends in the Q-commerce market in Ecuador is the rise of local players. While international companies like Rappi and Glovo have a presence in the country, local companies like Domicilio.com.ec and MiComisariato Express have gained a significant market share. This is due in part to their ability to tailor their services to the local market and offer more affordable prices.Another trend is the expansion of Q-commerce beyond major cities. While Q-commerce initially gained popularity in urban areas like Quito and Guayaquil, it is now spreading to smaller cities and towns across the country. This is due in part to the growing availability of smartphones and mobile internet access in these areas.
Local special circumstances: Ecuador has a unique geography that presents challenges for traditional retail. The country is home to many remote and rural communities, making it difficult and expensive to transport goods to these areas. Q-commerce has the potential to overcome these challenges by offering a more efficient and cost-effective way to deliver goods to consumers in these areas.
Underlying macroeconomic factors: Ecuador has experienced economic instability in recent years, with high inflation and a fluctuating currency. This has made it difficult for traditional retailers to maintain stable prices and supply chains. Q-commerce companies, on the other hand, have been able to adapt to these challenges by offering competitive prices and flexible delivery options. As a result, many consumers are turning to Q-commerce as a more reliable and affordable way to shop for their daily essentials.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights