Revenue of the quick commerce market worldwide 2017-2029
In 2024, the quick commerce market was estimated to have around 173 billion U.S. dollars in global revenues, increasing from the previous year's estimated 144 billion dollars. By 2029, revenues in the quick commerce market are forecast to exceed 268 billion U.S. dollars worldwide.
Ultra-fast delivery: an unprofitable venture?
Quick commerce promises consumers near instant delivery of their grocery orders, with delivery taking place within an hour or sometimes even as fast as ten minutes. Many startups in the industry like Getir, Flink and Gorillas secured billions of dollars in funding at the height of the pandemic from eager investors. However, these companies never turned in a profit, and estimates suggest profitability in the sector may be a difficult feat to achieve. So what does the future hold for the quick commerce sector?
Industry consolidation is the way to go?
While the pandemic propelled many food delivery startups to prominence, the post-pandemic economic slowdown threatened their survival in a highly competitive industry. With falling consumer demand and the return of competition from brick-and-mortar, some players resorted to mass layoffs to cut costs, while others attempted to consolidate their market share by acquiring their competitors. In the quick commerce market, Getir completed its acquisition of rival Gorillas in a deal worth 1.2 billion U.S. dollars in December 2022.
