April 14, 2024
UK Quick E-Commerce Market

The UK Quick E-Commerce Market Is Driven By Increasing Smartphone Penetration

The United Kingdom quick E-commerce market involves the online buying and selling of various consumer goods through mobile applications and websites within a short span of time. Products like food, groceries, household supplies, consumer electronics etc. see high demand through this channel. Quick commerce allows consumers to get their everyday essentials delivered at their doorsteps within a few hours of ordering.This offers tremendous convenience especially to busy urban dwellers. Moreover, the ability to track orders real-time through mobile apps provides transparency.

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 2024-2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

One of the major trends in the UK quick E-commerce market is the growing popularity of dark stores. Retailers are setting up independent micro-fulfillment centers called dark stores in dense residential areas for faster order fulfilment. This model involves storing inventory in smaller warehouses located very close to customers to facilitate ultra-fast delivery within narrow time windows. Brands are also partnering with local dark store operators to leverage their existing infrastructure and expand geographical presence. Further, rising investments and growing innovativeness of startups in quick commerce model is expected to make the shopping experience more personalized through personalized product recommendations, customized delivery slots, subscription plans etc thus driving higher customer retention in the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. Although barriers to entry are low, established players have strong brand recognition and economies of scale.

Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes. Buyers can easily switch between online retailers.

Bargaining power of suppliers: Suppliers have low bargaining power as there are many suppliers in the market and no supplier differentiates their products.

Threat of new substitutes: The threat of substitutes is high as customers can switch to other online channels or traditional retailers easily.

Competitive rivalry: Competition is intense as players compete on pricing, delivery speed and product variety.

Key Takeaways

The UK quick e-commerce Market Size is expected to witness high growth over the forecast period. The market size is projected to reach US$ 7.16 Mn in 2024 and grow at a CAGR of 9.6% during 2024-2031.

Regional analysis: The UK dominates the regional market due to high internet penetration and increasing preference for online shopping among consumers. London accounts for the major share due to high disposable incomes and availability of various online retailers.

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. Players compete on technological innovation, partnerships and mergers & acquisitions to strengthen their market presence.

*Note:
1.      Source: Coherent Market Insights, Public sources, Desk research
2.      We have leveraged AI tools to mine information and compile it