Urban Indian shoppers increasingly turning to quick commerce: NIQ study | News
Quick commerce platforms are bringing about a rapid change in the behaviour of online shoppers, a new study has pointed out.
As many as 31 per cent of urban Indian shoppers now rely on quick commerce for their main grocery needs, while 39 per cent use it for top-up purchases, said the Shopper Trends 2024 report by market research firm NIQ.
Among the popular categories, 42 per cent of shoppers use quick commerce for ready-to-eat meals, while 45 per cent use it for salty snacks.
In fact, shoppers are increasingly using online platforms not only for fill-in shopping but also for their monthly purchases, the report said.
E-commerce platforms are also becoming a go-to for essential staples, with 60 per cent of shoppers in India turning to online platforms for these purchases, it added.
According to the report, shopping frequency has increased across channels, with more frequent visits to both modern trade and online platforms.
The report noted a surge in grocery store visits for main shopping, with 32 per cent of Indian shoppers visiting weekly in 2024 as compared to just 12 per cent in 2023, and 24 per cent for top-up shopping versus 18 per cent in 2023.
The study interviewed over 4,500 consumers in major Indian cities like Delhi, Gurugram, Noida, Mumbai, Bengaluru, and Chennai, among others, to examine the shopping habits of people aged 18-65 who buy groceries at hypermarkets, supermarkets, and online stores.
“Shoppers today are more discerning, price-conscious, and channel-agnostic than ever before. The doubling of quick commerce usage signals an urgent need for FMCG brands to prioritise convenience and speed, while simultaneously addressing value perceptions,” said Mitesh Dabrai, executive director – consumer and marketing insights at NIQ in India.
“The growing interest in premium private labels, with 67 per cent of shoppers seeking out these options, presents a unique opportunity for brands to elevate their offerings. FMCG leaders need to lean into innovation and multi-channel strategies to stay competitive and meet the evolving expectations of today’s shopper,” Dabrai added.
In the last few quarters, fast-moving consumer goods (FMCG) companies have identified quick commerce as a growth engine.
After announcing the June quarter results, Suresh Narayanan, chairman and managing director, Nestle India, said that quick commerce makes up 2.1 per cent of overall e-commerce sales, adding that it was the fastest-growing segment of e-commerce and growing faster than traditional players.
Indian FMCG major Dabur, too, pointed out the category’s growth during the annual general meeting held in August this year.
“Quick commerce has been a game changer for the industry and for us as well. Quick commerce grew by almost 100 per cent and has already become 25 to 30 per cent of our e-commerce revenue,” Ankush Jain, chief financial officer at Dabur, said during the meeting.
First Published: Sep 24 2024 | 6:49 PM IST
