In 2023, China's quick commerce market totaled about 650 billion yuan. This represented a year-over-year growth of 28.89 percent.
The adoption of q-commerce in China
Quick commerce, also known as "q-commerce", is a new form of e-commerce. When compared to traditional e-commerce, q-commerce provides on-demand delivery in a short timeframe, sometimes even less than 30 minutes. Quick commerce providers often establish a network of stores and warehouses around residential areas. Once the order is received, the item is dispatched and transported by the last-mile delivery immediately.
China’s leading q-commerce providers
In 2023, Meituan Instashopping ("Shangou") was China’s largest q-commerce platform, followed by JD Now and Ele.me. The platform was launched in 2018 by Meituan, China’s largest local service provider. Within several years, Meituan Instashopping has developed into the most popular quick-commerce App in China, serving hundreds of millions of users.
Market size of quick commerce in China from 2017 to 2023
(in billion yuan)
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Tencent QQ, & The Beijing News. (October 15, 2024). Market size of quick commerce in China from 2017 to 2023 (in billion yuan) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1372654/china-market-size-of-quick-commerce/
Tencent QQ, und The Beijing News. "Market size of quick commerce in China from 2017 to 2023 (in billion yuan)." Chart. October 15, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1372654/china-market-size-of-quick-commerce/
Tencent QQ, The Beijing News. (2024). Market size of quick commerce in China from 2017 to 2023 (in billion yuan). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1372654/china-market-size-of-quick-commerce/
Tencent QQ, and The Beijing News. "Market Size of Quick Commerce in China from 2017 to 2023 (in Billion Yuan)." Statista, Statista Inc., 15 Oct 2024, https://www.statista.com/statistics/1372654/china-market-size-of-quick-commerce/
Tencent QQ & The Beijing News, Market size of quick commerce in China from 2017 to 2023 (in billion yuan) Statista, https://www.statista.com/statistics/1372654/china-market-size-of-quick-commerce/ (last visited November 21, 2024)
Market size of quick commerce in China from 2017 to 2023 (in billion yuan) [Graph], Tencent QQ, & The Beijing News, October 15, 2024. [Online]. Available: https://www.statista.com/statistics/1372654/china-market-size-of-quick-commerce/
