The Evolution of E-Commerce to Q-Commerce
Evolution happens at every level of existence in the human realm, and it happens more speedily in trade and quick commerce business. Earlier, trade required human interaction. It required us to be physically there to make a purchase. However, with the growth of technology, we shifted to online mode which we call e-commerce today. Ecommerce basically means ‘electronic commerce’ and it refers to what we call, in simple terms, ‘online shopping.’ Evolution did not stop here, obviously, because e-commerce paved the way for a more innovative and convenient model called quick commerce.
What do you Understand by Quick Commerce?
Quick Commerce does basically what its name suggests. It delivers products to customers within a day, a couple of hours, or even 15–30 minutes. It is for this very reason that it is gaining immense popularity among people. Life is busier than ever, and we are all barely managing time. With the emergence of q-commerce, a huge relief has been provided to us. We can save the time it would have taken us for a trip to the grocery store by simply placing an order for our daily necessities and receiving them at our doorstep.
The Advantages of Quick Commerce
Quick commerce brings many advantages, not just for customers but also for brands.
An Edge over Multinational Marketplaces
Partnering with quick commerce platforms can help businesses soar to greater heights. They can grow their customer base by delivering products to a large group of customers in their locality.
The quick service will give tough competition to E-commerce platforms.
Increase in Profit with a Huge Margin
Modern humans are enslaved to convenience; hence, a larger part of the population prefers online shopping. When it comes to groceries, swiftness along with convenience is way more appreciated, and this is where q-commerce takes away the limelight.
This makes it highly possible for retail stores to increase their profit margins.
Enhancing Customers’ Experience
Quick Commerce platforms may come to your rescue at various occasions, like when you need first aid kits, food, gift items, groceries, etc.
Quick commerce delivery apps are so quick that they will deliver your goods to you in a much shorter time than it would have taken you if you had gone grocery shopping.
How to Put the Q-Commerce System into Practice
As we already know how q-commerce model can be beneficial for your business, let us now look into the factors necessary to implement it.
- Set up your warehouses locally and partner with local stores.
If you want to pack and deliver your products quickly, then it would be wise to have local warehouses from which you can fulfill customers’ demands.
- Identify stocks that are high in demand.
Daily necessary items like groceries, food, medicines, gifting items, stationary goods, personal care items, wellness goods, etc. are the types of items people require on a daily basis and hence prefer the quick delivery mode.
It would also be better for you if you could analyze which types of products are in demand at what time of the year.
- Ensure that you have proper management tools.
Having the right technical support and software is very important to carry out several processes correctly, like proper time management, speed, efficiency, goods that have gone out of stock, etc.
- Alternatively, you can partner with a quick commerce platform.
To ensure on-time delivery of your goods and form a loyal customer base, you can partner up with a reliable quick commerce platform like HathMe.
HathMe will take care of everything for you while providing you with many exceptional perks like free registration, lower commission rates, free delivery, early release of payments, etc.
Future Growth of q-commerce
q-commerce in India is expected to grow to a value of $5 billion by 2025. It is here to stay. The only thing that will be happening with this model is evolution, but it will not fade away. People are reliant on convenience and quick service.
What will happen in the near future?
As q-commerce gains popularity, demands are also growing. Customers will eventually begin seeking all kinds of goods beyond their daily necessities.
In fact, HathMe is planning to work with various segments like fashion, footwear, FMCG products, pharmaceutical products, sport items, toys, beauty, personal care items, etc. It is aiming to enlist over 10 lakh items on the platform.
Technology will become the best friend of q-commerce
New technological improvements like drone delivery will help q-commerce platforms make deliveries on time in times of huge traffic or flood-like situations.
Conclusion
Q-commerce is yet to reach its full potential. However, with the right strategies and the right investments, you can begin your journey with q-commerce.
HathMe might just be an ideal choice for you if you are looking for a partnership and do not want to invest a lot.
Source:https://emperiortech.com/what-is-quick-commerce-business/