The Quick Commerce market in North America has been rapidly growing in recent years, fueled by changing consumer preferences and technological advancements.
Customer preferences: Consumers in North America are increasingly seeking convenience and speed in their shopping experiences. Quick Commerce, or Q-Commerce, offers just that - the ability to order products online and have them delivered in a matter of hours. This is particularly appealing to busy urbanites who value their time and prioritize convenience over cost.
Trends in the market: One trend that has emerged in the North American Q-Commerce market is the rise of niche players. While large retailers like Amazon and Walmart dominate the market, smaller players are carving out their own niches by specializing in certain product categories or offering unique services. For example, some Q-Commerce companies specialize in delivering groceries or pharmaceuticals, while others offer personalized styling services.Another trend is the increasing use of technology to optimize the Q-Commerce experience. Many companies are investing in artificial intelligence and machine learning to better predict consumer preferences and optimize delivery routes. This allows for faster and more efficient delivery, which is a key selling point in the Q-Commerce market.
Local special circumstances: One factor that has contributed to the growth of the Q-Commerce market in North America is the prevalence of large urban centers. Cities like New York, Los Angeles, and Chicago have high population densities and a large number of busy professionals who are willing to pay a premium for fast and convenient delivery.Another factor is the growth of the gig economy. Many Q-Commerce companies rely on independent contractors to make deliveries, and the rise of platforms like Uber and Lyft has made it easier for these companies to find and hire drivers.
Underlying macroeconomic factors: The growth of the Q-Commerce market in North America is also influenced by broader macroeconomic trends. For example, low unemployment rates and rising wages have led to increased consumer spending, which in turn has fueled demand for fast and convenient delivery options.Additionally, the COVID-19 pandemic has accelerated the growth of the Q-Commerce market. With more people staying at home and shopping online, the demand for fast and reliable delivery has skyrocketed. This has led to increased investment in Q-Commerce infrastructure and technology, as companies seek to capitalize on this trend.Overall, the Q-Commerce market in North America is expected to continue growing in the coming years, as consumers prioritize convenience and speed in their shopping experiences. As technology continues to improve and companies find new ways to optimize the Q-Commerce experience, we can expect to see continued innovation and growth in this space.
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.
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