Quick Commerce - Norway

Norway

Highlights

The Quick Commerce market in Norway is projected to reach a revenue of US$174.60m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 7.84%, resulting in a projected market volume of US$254.60m by 2029.
By 2029, the number of users in the Quick Commerce market is estimated to amount to 1.2m users.
The user penetration rate is projected to be 14.5% in 2024 and is expected to increase to 20.4% by 2029.
The average revenue per user (ARPU) is forecasted to be US$217.50.
In comparison to other countries, China is expected to generate the highest revenue in the Quick Commerce market, with an estimated amount of US$80.84bn in 2024.
Additionally, China is projected to have the highest user penetration rate in the Quick Commerce market, reaching 21.4%.
Norway's quick commerce market is flourishing with the rise of tech-savvy consumers and efficient delivery services.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

Quick Commerce, also known as Q-Commerce, is a rapidly growing market in Norway. With the rise of e-commerce and consumers' demand for faster delivery times, Q-Commerce has become a popular option for those who want their goods delivered quickly and conveniently.

Customer preferences: Norwegian consumers are increasingly looking for faster and more convenient delivery options. They are willing to pay extra for same-day or next-day delivery, which has led to the growth of Q-Commerce in the country. In addition, the COVID-19 pandemic has accelerated the shift towards online shopping, further driving demand for Q-Commerce services.

Trends in the market: One trend in the Norwegian Q-Commerce market is the emergence of new players. Traditional retailers and logistics companies are entering the market to compete with established Q-Commerce providers. This has led to increased competition and innovation in the market, with companies offering new services such as real-time package tracking and delivery notifications.Another trend is the adoption of environmentally friendly delivery options. Consumers in Norway are environmentally conscious and are increasingly demanding sustainable delivery options. Q-Commerce providers are responding by offering electric vehicles and bicycles for deliveries, as well as partnering with companies that use renewable energy sources.

Local special circumstances: Norway's geography and population density present unique challenges for Q-Commerce providers. The country has a long coastline and many small islands, making delivery to remote areas difficult. In addition, Norway has a relatively small population spread out over a large area, which can make it difficult for Q-Commerce providers to achieve economies of scale.

Underlying macroeconomic factors: Norway's strong economy and high standard of living have contributed to the growth of Q-Commerce in the country. Consumers have disposable income to spend on convenience and are willing to pay extra for faster delivery options. In addition, Norway's well-developed infrastructure and high internet penetration rate make it an attractive market for Q-Commerce providers.

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.