Quick Commerce: The Ultimate Guide For 2022-2023

This guide will teach you what Quick Commerce is, what its benefits are, how to use it, and much more. 

Introduction

Behind any key role undertaken by any sector, the main points that are aimed through the functioning of any industrial, financial and other sectors and even the service providing sectors are that consumer experience should be well taken care of. Customer convenience and service/product efficiency are the key goals that are looked upon to be achieved by any sector. Old methods of purchasing groceries have given their ways to the establishment of quick commerce. Due to the hectic and fast-forward lifestyle, urbanization and convenience-seeking mindset of the ever growing mass of people, the consumer behavior patterns are affected that plays a vital role as it acts as the driving force behind the demand of such e-Commerce services such as quick commerce. Due to rapid change in the entire administrative , financial, economic and other sectors due to the pandemic, it has become very necessary to look upon newer ideas and techniques that would ultimately help in growing the business platforms and support the ever-growing demands of the consumer mass. This has led to the development of what is known as Quick Commerce. In the near future, it is expected that new niches would arise as a result of quick commerce and due to this, again, a completely new type of platform needs to be developed for sustaining the market and consumer demands. Whatever the cause may be, it becomes extremely important to have a broad idea on these aspects by conducting an intense research on these areas of commercial activities. 

Ever-changing e-Commerce landscape

 

The e-Commerce platform has automatically adapted itself with the fast changing demands of the consumers. In recent times, when the competition in the market is at its peak, the aim for making a particular commodity or service stand out is fulfilled by first fulfilling these basic demands of the consumers. It has been observed that even since the pandemic, the demand for excellent, convenient and efficient services and customer satisfaction have increased to a large extent. Vividity in products and technologies have been widely accepted which further pushes the demand for customer satisfaction even more and so does the service sector of delivery services in the efficient and quick delivery of products. Due to more acceptance in online working processes and remote working, the delivery services have become very significant especially in the post COVID-19 period. One of the many steps taken for the betterment of e-Commerce is quick commerce which is seen to have influenced many brands as well as local stores so as to ensure fair performance in the near future. 

What is Quick Commerce?

Quick commerce is a measure that ensures that products are delivered to the customers within one hour of placing the orders. It is a super-fast system of delivery of products that also involves the working of logistical backgrounds along with the delivery operation of the products to the consumers within 10 to 30 minutes of the placing of an order. This has revolutionized the concept of typical commercial operations that involves the delivery of goods within a few days of placing the order. It is also known as 'on-demand delivery'. Quick commerce usually handles the delivery of small orders, say, a user has run out of ingredients in the midst of preparing food and so the person orders the product all of a sudden. Quick commerce is just a 'shortening of time' version of a normal delivery service. It is designed to cut the time for the instant delivery of the products. The prime focus is based on the serving the demands of the customers from small and daily micro products like grocery to pharmaceutical requirements.

Benefits of Quick Commerce

Quick commerce has its own benefits. Besides being based on the concept of gaining advantages in the competition of the market, Quick Commerce adds a fresh meaning to the already existing structure of business or the business model and aims at the input of convenience, speed and efficiency as a key part of the logistical journey of the firm. Quick commerce helps the quick commerce opting brand or store to stand out from their competitors. Since time is extremely valuable, quick commerce deals with the benefits of cutting time. This makes this particular service more valuable than any other delivery service platforms. This helps the local businesses to stay in the competition along with competing with high-profile brand's online platforms like Amazon and so on. The customers who are ensured of immediate deliveries are encouraged to try out new products and new online platforms. 

Quick commerce helps the retailers to sell their products quickly with profit margins on the products. Sometimes, in order to get products instantly, the consumers like to spend more money on that product. This gives profit to the sellers thereby making the sale of products with profit margins in line easier. Therefore, quick commerce is very helpful for those individuals who know how to make easy profits. If one gets to decode the puzzle, it becomes very easy for that individual to get profit margins out of quick commerce and the commercial activities involved under this. During the pandemic, the revenue for quick commerce rose to 50 percent more than the value of the original revenue returns. This was due to the increase in the use of quick commerce specially during the pandemic due to the sudden change in the consumer behavioral patterns. 

When one works in a consumer-centric industry, it becomes very essential to have a clear idea of the consumer expectations and consumer experience. It becomes very important to fit into the shoes of the consumers when one works in an environment that is solely driven by consumer experience and expectations. It is very important to fulfill the demands and expectations of the consumers in order to win consumer loyalty. Quick commerce also helps to relieve stress for the customers who have accidentally run out of products. This allows the customers to stay loyal to that brand or local store. Happy and satisfied customers will help a business to retain the customer availability and this will help the business to progress further. 

How to implement Quick Commerce?

Quick commerce is a must for individuals and professionals who value time and focus more on convenience and efficiency rather than on the product discount values. There are different methods by which quick commerce can be implemented.

Firstly, in order to have a closer reach to the consumers, it is very important to locate the warehouses in local areas rather than distant places. Quick commerce ensures that the picking and packaging of the products from the warehouse or a store should be in areas that have public access and the areas where the goods need to be delivered are close to the pick up point of the order. Generally, the local stores employ local delivery agents so as to make quick deliveries. Again, the modes of transport are very important and should be taken note of as two-wheelers are less affected by heavy traffic than three-wheelers and four-wheelers. The close proximity to the consumer mass will help in cutting fuel costs, increase efficiency and will add less turnaround time. The delivery executives must be asked to provide super-fast deliveries. This will help in the overall growth of the business. 

Quick Commerce works best for a few categories of products. This may include food products, FMCGs ( Fast Moving Consumer Goods) ,drinks, cosmetics and so on. Sometimes medicines and gift items also fall under this category. Due to the high level of work from home jobs during the pandemic, office products and electronics are few other types of goods that can come under this category. Businesses that intend to implement Quick commerce opportunities need to make the right choice of products to be stocked in the warehouse or inside the stores. It is again very important to do intensive research on the fluctuations in consumer demand in order to learn more about the demand patterns in the market. It again becomes very vital to have a wise selection of the stock lists and the quantity of stocks in total. This will aid in an added advantage to the consumer due to the quick response to the on-demand fluctuations and will help in accelerating the process of picking up the stocks from the stores or warehouse and delivery to the consumer's location.

Thirdly, in order to have a well-functioning Quick Commerce system, it is essential to have software that involves high technology for the easy tracking of goods along with the tracking of local time. Software systems need to be developed that work exclusively for a particular brand or local store in giving their best services. 

The replenished stocks need to be re-stacked after each round of product exhaustion. This is a mandatory step that will prevent the sudden termination and interference in Quick Commerce system due to the lack of available stocks.

The fast future of e-Commerce

Since the pandemic, online platforms in the fields of commerce have shown a sharp twist in their functioning. This is because of the sharp change in the consumer behavioral patterns. It has been observed that the number of consumers who prefer visiting the local stores or the shopping centers has declined and instead, shopping from home or online shopping has taken place in the buy and sell of products and commodities. Consumers have found convenience in getting their orders delivered at home. Since then, there has been a rapid rise in the number of quick commerce offering online platforms and mobile applications run by different brands that work solely on the mode of fast delivery of products. This is a significant change that needs to be mentioned. In the pre-COVID 19 period, online shopping was popular but not less than the trend observed in the post-pandemic period. This has led to the development in new areas in commercial activities that offer delivery services.  

New Quick Commerce offerings

With the advancement and development of technology, e-Commerce sees new niches of development. Some of these being the development of delivery services. Also, the category of products involved in quick commerce is also expected to see an improvement by allowing other categories of products like home appliances, FMCGs, beauty and makeup products, furniture and so on to be included in the service range of quick commerce. 

The e-Commerce industry shall face certain issues in its process of development. The traffic congestion on the road can hamper the delivery of goods within the stipulated period of time. The development in technology also holds the progress of quick commerce e services. With new technologies like drone-delivery, goods and services can be easily delivered to the respected locations. Better software will help in more accurate tracking of the delivery of the goods with respect to the real time and so on. 

Conclusion

It can be seen that the development in e-Commerce shall attract the number of consumers. The growth of quick commerce will only make it more popular and its development depends on the software and technology development besides vividity in the products offered. High level tasks involve storing the orders in their particular place, re- stocking the orders, packaging the required commodities according to the orders and the final shipment of products. Order arrival to the time when the order is dispatched in a 'dark store' should not exceed 15 minutes so that the delivery can be super-fast and can be done in time. Therefore, an effective system needs to be established that would help in reducing time loss due to searching for the products or excessive operational defaults that arise due to an unplanned operational and administrative system. Quick Commerce is a new idea that has opened up the scopes for improvement of newer sectors within commercial activities. Keeping in mind to match the current consumer mindset and demand patterns, a particular e-Commerce model needs to be developed. Creation of variations in products and services will be one of the key results of the availability of a wide range of development in business operations. This would ultimately help in the progress for the long-run.