Revenue of quick commerce in India 2019-2028
As of 2024, the estimated revenue of quick commerce amounted to over three billion U.S. dollars in India. The revenue is likely to increase by about nine billion dollars by 2028. The addition of quick commerce has changed the e-commerce landscape, especially in the grocery segment.
Surging demand drives market expansion
The gross merchandise value (GMV) of quick commerce in India has shown consistent growth, reaching 2.8 billion in 2023. This rising trend in GMV highlights the growing consumer demand for swift delivery services, setting the stage for further market expansion. The sector's growth is further evidenced by the increasing number of monthly transacting users, which surpassed eight million, representing a 46 percent year-over-year increase.
The competitive landscape evolves rapidly
As the quick commerce market is evolving, competition among key players is intensifying. Zomato-Blinkit currently leads the market, but newer entrants like Zepto are making significant strides. Zepto's market share jumped from 15% in 2022 to approximately 30% in 2024, showcasing the dynamic nature of the industry. This shifting competitive landscape is driving innovation and improving service quality, ultimately benefiting consumers and contributing to the sector's overall growth trajectory.
