Europe Quick E-Commerce Market Is Estimated To Witness High Growth...

Europe Quick E-Commerce Market Is Estimated To Witness High Growth Owing To Increasing Adoption of Online Shopping

Blogs IT, Cloud, Software and Technology

Posted 2023-10-31 12:48:09

Market Dynamics:
The Europe quick E-commerce market is witnessing high growth owing to increasing adoption of online shopping among consumers and strong growth of on-demand delivery trend in the region. According to statistics, the number of online shoppers in Europe increased from 302 million in 2018 to 340 million in 2019. With rising internet penetration and busy lifestyle, consumers prefer quick and hassle-free shopping experience through their mobile phones. Further, the COVID-19 pandemic has accelerated digital transformation and elevated the status of quick delivery model, thereby fueling the demand for quick E-commerce platforms. Quick commerce companies are also investing heavily in expanding their warehouses and fulfillment centers across major cities to cater to the rising customer base. All these factors are expected to drive the growth of Europe quick E-commerce market over the forecast period.

SWOT Analysis
Strength: Europe quick commerce market has huge growth opportunities due to changing consumer shopping patterns and preference for on-demand deliveries. The market offers quick grocery delivery service within 10-30 minutes time which fulfills immediate consumer needs in an era of instant gratification. The quick delivery model helps players to gain strong foothold in this emerging space.
Weakness: Low-profit margins and sustainability challenges arises from delivering small basket sizes rapidly. High dependency on temporary workforce also increases operational challenges and costs. Vulnerable to economic uncertainties and risk of oversaturation if lacking strong differentiation.
Opportunity: Growing preference of millennials and Gen Z consumers towards digital-first lifestyle and need for seamless mobile shopping experience presents abundant prospects. Expanding into new verticals beyond grocery such as food delivery, electronics, baby products can fuel business growth.
Threats: Intense competition from well-funded startups may adversely impact market share and profitability. Strict local government regulations around quality standards, delivery norms and food handling can hamper quick expansion plans.

Key Takeaways
The global Europe Quick E-Commerce (Quick Commerce) Market Size Share is expected to witness high growth, exhibiting CAGR of 38.5% over the forecast period, due to increasing preference for instant delivery experience among busy urban population.

Regional analysis: Western Europe dominates the regional market with over 50% share, led by strong presence of major quick commerce players like Gorillas, Flink and Jokr in countries like Germany and UK. However, Eastern Europe is emerging as the fastest growing regional market registering a CAGR of over 45% driven by rising smartphone and internet penetration in Poland, Czech Republic and Hungary.

Key players: Key players operating in the Europe quick e-commerce market are Getir, Gorillas, Gopuff, Just Eat Takeaway, Delivery Hero, Jokr, Flink, Zapp, Uber Eats, Wolt, Bolt, Deliveroo. Players are adopting varied expansion strategies like acquisitions, technology advancement and collaborations to gain competitive edge in this nascent but rapidly evolving space.