Quick Commerce cos struck a chord with young consumers

New Delhi: As quick commerce (QC) companies strike a chord with consumers in the country, particularly the urban digital natives, such platforms have found good product market fit in metros and large cities and are now gradually expanding their presence in smaller cities and towns in a calibrated manner, experts said on Friday.

Currently, three major quick delivery platforms - Zomato's Blinkit, Swiggy's Instamart and Zepto -- compete head-on with each other and the market-share gap is not so wide.

According to industry experts, such quick grocery platforms have seen limited success globally but in India, there are a couple of key variables driving their success. "Population density and high prevalence of unorganised retail/local kirana stores enables QC companies to exercise relative buying power with scale, along with cheap labour costs," according to a report by Emkay Global Financial Services.

GenZs and millennials have started ordering everyday needs across product categories via online apps, which are delivered within minutes. These platforms started with grocery deliveries and soon expanded their total addressable market (TAM) by entering into newer categories.