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The UK quick e-commerce Market Growth Accelerated By Enhanced Connectivity

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Sumedha
The UK quick e-commerce Market Growth Accelerated By Enhanced Connectivity

The quick E-commerce market refers to online retail platforms that offer delivery of goods within 24 hours or same day of order placement. Popular products offered via quick commerce include groceries, food, medicines, personal care items, electronics and home accessories. Quick commerce platforms offer high levels of service and convenience to customers through features like live order tracking and flexible delivery windows.


The global quick E-commerce Market is estimated to be valued at US$ 7.16 Mn in 2024 and is expected to exhibit a CAGR of 9.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market Dynamics:


One of the key drivers for the growth of the UK quick E-commerce market is the increasing consumer adoption of online shopping. Factors such as time-starved lifestyles, on-demand culture and desire for convenience have led more individuals to fulfill their shopping needs online. Quick commerce platforms are catering strongly to this trend by ensuring goods are delivered to customers within hours of placement of order.


The increasing popularity of quick commerce owing to its convenient and hassle-free value proposition further fuels the growth of this market in the UK. By leveraging technologies such as mobile applications, GIS mapping and AI, quick commerce platforms are enhancing the online shopping experience of customers. This enables impulse purchase of goods and expands the market potential for connected enterprises.


SWOT Analysis


Strength:

- High smartphone and internet penetration in the country has accelerated the quick e-commerce market growth. The UK has one of the highest smartphone and internet usage rates globally.

- Younger demographic group has a strong preference for shopping online which bolsters the quick e-commerce industry. More than 70% of UK population under 40 prefers online shopping over visiting physical stores.

- Swift delivery capabilities within same day or next day fulfilment builds trust among customers towards quick commerce platforms.


Weakness:

- Sustainability challenges due to excessive packaging material used for quick deliveries. Packaging adds to carbon footprint of quick commerce business model.

- High costs associated with maintaining infrastructure for efficient order fulfilment within small delivery window. Costs like warehouse rentals, delivery personnel salaries adds financial burden.


Opportunity:

- Untapped suburban and rural customer segment who prefer quick deliveries for day to day needs. Regional expansion opens new revenue streams.

- Growth of quick commerce can help replace errand running through physical stores, saving travel time for customers.


Threats:

- Stiff competition from established e-commerce players expanding into quick commerce space. Dominant e-retailers pose serious challenge to niche quick players.

- Rising inflation and recession fears could impact discretionary consumer spending on quick deliveries for non-essential items in coming years.


Key Takeaways


The UK quick e-commerce Market Size is expected to witness high growth in the forecast period due to growing preference for instant deliveries. The market size is projected to reach US$ 13.26 Mn by 2031 from US$ 7.16 Mn in 2024, registering a CAGR of 9.6% during the forecast period.


Regional analysis: The UK quick e-commerce market is dominated by the regions of London and South East England. These densely populated areas have seen highest penetration of quick commerce platforms driven by young customer base. London alone contributes over 35% of the country's quick commerce sales currently led by established brands focused on metro regions initially.

 

Key players: Key players operating in the UK quick e-commerce market are Allergan (Acquired by Abbott), Apollo Endosurgery, Reshape Medical, Helioscopie Medical, Spatz FGIA, Endalis, Districlass Medical, Lexal, Medicone, Obalon Therapeutics, Silimed, Medsil, ReShape Lifesciences, EndoArt, MedSil, Silimed, Medsil, MetaCure, Semmar. These players have sizable market share and are focused on regional expansions as well as product portfolio diversification.


Get More Insights Here

https://whotimes.com/fabricating-sustainability-geotextile-weaving-a-greener-future-for-the-planet/

https://www.newswirestats.com/uk-quick-e-commerce-market-size-share-growth-outlook-2023/


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