India’s quick commerce sales soared 280% in two years

India’s quick commerce industry has grown rapidly, with sales increasing by over 280% in two years, reaching a market value of US$ 3.34 billion in 2024. The sector is expanding faster than traditional e-commerce, with a 73% annual growth rate. Expected to reach US$ 9.95 billion by 2029, quick commerce remains underpenetrated at 7%, presenting significant expansion opportunities.

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India’s quick commerce industry has experienced significant growth, with sales surging over 280% in the past two years, according to a report by financial services firm Chryseum. The report highlighted that the Gross Merchandise Value (GMV) of India’s quick commerce sector rose from US$ 500 million in FY22 to US$ 3.3 billion in FY24, reflecting this 280% increase.

Quick commerce, which focuses on delivering small orders within a short time frame, is growing much faster than traditional e-commerce. While India’s e-commerce industry is expanding at an annual rate of 14%, quick commerce registered a remarkable 73% growth rate in FY 2023-24, marking a major shift in consumer preferences toward faster and more convenient delivery options.

Valued at US$ 3.34 billion in 2024, India’s quick commerce market is projected to grow to US$ 9.95 billion by 2029, with a compound annual growth rate (CAGR) of over 4.5% during the forecast period (2024-2029).

“The Quick Commerce Industry in India Market size is estimated at US$ 3.34 billion in 2024, and is expected to reach US$ 9.95 billion by 2029,” said the report.

Despite this rapid expansion, the sector remains relatively untapped, with only 7% penetration of the total addressable market, which is valued at US$ 45 billion. This suggests substantial growth potential, with quick commerce already surpassing the market size of food delivery.

To leverage this growth, quick commerce platforms are increasingly partnering with manufacturers for direct sourcing, avoiding traditional distributor networks. “Quick Commerce platforms are partnering with manufacturers for direct sourcing, to bypass the traditional distributor network,” the report added.

Additionally, advanced technological infrastructure is enabling platforms to optimize operations, improving speed and efficiency. These innovations are crucial to meeting India’s growing demand for instant deliveries, with experts predicting quick commerce will play an increasingly vital role in shaping the country’s retail landscape.