Quick Commerce - Ghana

Ghana

Highlights

The Quick Commerce market in Ghana is projected to reach a revenue of US$16.05m in 2024.
This is expected to show an annual growth rate (CAGR 2024-2029) of 7.48%, resulting in a projected market volume of US$23.02m by 2029.
By that time, the number of users in the Quick Commerce market in Ghana is expected to reach 2.2m users.
The user penetration is forecasted to be 4.5% in 2024 and is projected to reach 5.9% by 2029.
The average revenue per user (ARPU) is expected to be US$10.28.
In global comparison, the highest revenue in the Quick Commerce market is expected to be generated China, amounting to US$80.84bn in 2024.
Additionally, China is projected to have the highest user penetration rate in the Quick Commerce market, with a rate of 21.4%.
Ghana's quick commerce market is booming with the rise of digital platforms and the increasing demand for convenient and fast delivery services.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Quick Commerce, also known as Q-Commerce, is a rapidly growing market segment in Ghana, driven by the increasing adoption of smartphones and the convenience of online shopping. With the rise of e-commerce platforms and the proliferation of mobile payment systems, Q-Commerce has become a popular choice for consumers looking for fast and efficient delivery of goods and services.

Customer preferences: Ghanaian consumers are increasingly turning to Q-Commerce platforms for their convenience and speed. The ability to order goods and services online and have them delivered quickly is a major draw for many consumers, particularly those in urban areas. The rise of mobile payment systems has also made it easier for consumers to make purchases online, further driving the growth of Q-Commerce in Ghana.

Trends in the market: One of the key trends in the Q-Commerce market in Ghana is the increasing competition among providers. As more companies enter the market, consumers are benefiting from greater choice and more competitive pricing. Another trend is the growing popularity of same-day delivery, which is becoming increasingly common in urban areas. Finally, there is a trend towards greater specialization, with some providers focusing on specific product categories such as food or pharmaceuticals.

Local special circumstances: One of the unique challenges facing the Q-Commerce market in Ghana is the country's relatively underdeveloped logistics infrastructure. Poor road networks and limited access to air transportation can make it difficult for providers to deliver goods quickly and efficiently, particularly in rural areas. Additionally, the high cost of data and limited internet access in some areas can make it challenging for consumers to access Q-Commerce platforms.

Underlying macroeconomic factors: The growth of Q-Commerce in Ghana is being driven by a number of macroeconomic factors, including the increasing adoption of smartphones and mobile payment systems, rising urbanization, and a growing middle class. Additionally, the COVID-19 pandemic has accelerated the shift towards online shopping and home delivery, further boosting the growth of Q-Commerce in Ghana. However, the market is not without its challenges, including the need for better logistics infrastructure and improved access to affordable data and internet 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.