Quick Commerce sale in India surge by 280 per cent over two years: Report
quick commerce industry has witnessed remarkable growth, with sales surging by more than 280 per cent over the last two years, according to a report by financial services firm Chryseum.
The report highlighted that the Gross Merchandise Value (GMV) of quick commerce in India increased from USD 0.5 billion in FY22 to a staggering USD 3.3 billion in FY24, which is a 280 per cent increase.
Quick commerce, which refers to the rapid delivery of small orders within a short time frame, is growing at a much faster pace than traditional e-commerce.
The report noted that while India's e-commerce sector is registering an annual growth rate of 14 per cent, quick commerce has expanded at an impressive 73 per cent annual growth rate during FY 2023-24. This highlights the significant shift in consumer behavior towards faster and more convenient delivery options.
The quick commerce market in India is currently valued at USD 3.34 billion in 2024 and is projected to reach USD 9.95 billion by 2029, growing at a compound annual growth rate (CAGR) of more than 4.5 per cent over the forecast period (2024-2029).
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