In India’s e-commerce landscape, quick-commerce is increasingly becoming a buzzword. It is a recently formed sub-segment of the rapidly evolving e-commerce industry, which has experienced explosive growth in the era of instant gratification due to its business model rooted in speedy delivery within 10 to 15 minutes. Hence, Q-commerce has altered the dynamics of the online retail market by striking the right blend between delivery time and resource availability. Therefore, E-commerce enterprises are reinventing themselves by incorporating the dark store model in their business strategies, which blends the advantages of conventional e-commerce with exceptional last-mile delivery.
The pandemic-induced shift in customer behavior towards embracing online services as a successor to the local kirana stores and the increased value of speed and convenience has fueled its expansion. Hence, industry projections indicate that the Q-Commerce market in India will increase by 10-15x to reach about $5.5 billion by 2025. Given that about one-third of India’s US$1 trillion annual retail expenditure goes towards food and everyday essentials, there are plenty of opportunities for the Q-commerce sector to amp up the E-commerce industry.
Following are a few aspects of how Q-commerce has transformed the logistics industry:
1) Last-mile route optimisation
Optimizing the final mile is essential since it is the cornerstone of real interaction between the product and the buyer. Hence, delivering items effectively and on schedule will encourage customer satisfaction and loyalty. Thus embracing cutting-edge technologies such as data analytics, AI and route optimisation tools is crucial since businesses can leverage data to study patterns in customer behaviour, traffic and delivery to reduce operational costs. Thereby eliminating unnecessary diversions and reducing delivery times to improve the customer experience. Additionally, by collaborating with third-party logistics providers, outsourcing delivery services may help businesses save money.
2) Dark store business model
Q-commerce employs actual shops or micro-fulfillment centers, known as “dark stores,” to reach a more extensive customer base in the neighborhood. These micro-fulfillment centers or tiny warehouses utilize click-and-connect capabilities and large stock volumes to efficiently support order delivery in a region within a 2-3 kilometer radius. Q-commerce is increasingly leveraging the dark shop strategy since it provides businesses with information on their inventory levels, allowing for enhanced inventory management and selection. Additionally, the dark shops are also integrating cutting-edge technology during the loading, storage, and pick-up stages to operate more efficiently. As a result, incorporating dark stores strategy in Q-commerce offers vast possibilities for revenue to the online retail industry due to inventory transparency and superior storage capacity for a more extensive selection of products.
3) Particular products/goods
Quick commerce progressed quickly as the e-commerce sector broadened its reach to include categories that concentrated on high-demand everyday necessities, including groceries, frozen goods, fresh fruits, medicines, and vegetables, due to evolving customer behaviour. Additionally, based on the categories, online merchants select the stock and its SKU due to thorough market research, which gives them a perfect understanding of market demand and variations in flexible demands. However, as the majority of the items in the grocery market are perishable, customers expect their orders to be delivered as soon as possible after placing them. As a result, online merchants are enhancing efficiency and fulfilling orders rapidly by optimizing storage operations, packing goods quickly, and shipping them out right away.
4) Customer retention
Today’s customers have high expectations since they readily download a rival app if they cannot discover their favorite goods or receive their scheduled delivery. Hence, Quick commerce firms seek to redefine consumer spending patterns to increase customer loyalty by concentrating on selling goods that need to be replaced frequently and providing clients unparalleled speed and convenience. As a result, the Q-commerce business model is backed by advanced technology that works in the background to speed up the whole order-to-delivery cycle through accurate order dispatching, rider allotment, route optimization, and real-time tracking. It also enables the customers to use the app’s order monitoring function to keep track of their orders, ETAs, and the passage of time and communicate with the designated delivery agents, thereby enhancing customer satisfaction and resulting in customer retention.
In recent years, the world has witnessed a significant shift toward online shopping. The growth of e-commerce has been fueled by the increasing use of smartphones, faster internet speeds, and the convenience of shopping from anywhere, at any time. The rise of e-commerce has also led to the emergence of a new concept called “Quick Commerce,” which refers to delivering products to customers as quickly as possible. Quick Commerce is changing the way people shop online and is becoming a popular choice for consumers who want their products delivered fast. However, for merchants who want to get involved in Quick Commerce, there are several things to consider, including merchant onboarding.
Merchant onboarding refers to getting a merchant set up to accept payments and sell products online. In the world of Quick Commerce, merchant onboarding is particularly important because the competition is intense, and the demand for fast and efficient delivery is high. In this article, we will discuss the key steps that merchants need to take to onboard onto a Quick Commerce platform.
Merchant Onboarding for Q-commerce:
Step 1: Research the Market
Before getting started with Quick Commerce, merchants need to research the market to understand the demand for their products and the competition. They should identify the most popular products in the Quick Commerce space and try to find a unique selling point that will differentiate their products from others.
Step 2: Choose the Right Platform
Once merchants have identified their unique selling point, they need to choose the right platform to onboard onto. There are several Quick Commerce platforms available in the market, and merchants should carefully evaluate each one to determine which one is the best fit for their business.
Step 3: Provide Required Information
Once the merchant has chosen a Quick Commerce platform, they must provide the required information to get on board. This may include providing details about their business, tax information, bank account information, and any other information needed for the platform.
Step 4: Integration
Once the merchant has provided all the required information, they must integrate their website or online store with the Quick Commerce platform. This may involve installing a plugin or adding a code snippet to their website.
Step 5: Payment Gateway Integration
Once the website is integrated with the Quick Commerce platform, the merchant will need to integrate their payment gateway. This is necessary to accept payments from customers. Merchants should choose a payment gateway that is fast, reliable, and secure.
Step 6: Testing and Launching
After completing all the above steps, the merchant needs to test the platform thoroughly to ensure that everything is working as expected. Once testing is complete, they can launch their products on the Quick Commerce platform.
In recent years, the world has witnessed a significant shift toward online shopping. The growth of e-commerce has been fueled by the increasing use of smartphones, faster internet speeds, and the convenience of shopping from anywhere, at any time. The rise of e-commerce has also led to the emergence of a new concept called “Quick Commerce,” which refers to delivering products to customers as quickly as possible. Quick Commerce is changing the way people shop online and is becoming a popular choice for consumers who want their products delivered fast. However, for merchants who want to get involved in Quick Commerce, there are several things to consider, including merchant onboarding.
Merchant onboarding refers to getting a merchant set up to accept payments and sell products online. In the world of Quick Commerce, merchant onboarding is particularly important because the competition is intense, and the demand for fast and efficient delivery is high. In this article, we will discuss the key steps that merchants need to take to onboard onto a Quick Commerce platform.
How Merchant Onboarding Helps In Getting More Sales
In today’s digital age, businesses are constantly searching for ways to improve their customer experience and increase sales. One key way to do this is through merchant onboarding, which helps merchants seamlessly integrate with payment systems and platforms. Merchant onboarding can be an incredibly powerful tool in improving sales, as it enables businesses to offer more payment options, improve the checkout experience, and increase overall customer satisfaction.
To understand how merchant onboarding helps in getting more sales, it’s important to first define what merchant onboarding is. Simply put, merchant onboarding is the process of bringing a new merchant onto a payment platform or system. This process typically involves verifying the merchant’s identity, setting up payment processing capabilities, and ensuring that the merchant meets all necessary legal and regulatory requirements.
How does merchant onboarding help in getting more sales?
1) Offering More Payment Options
One of the key ways that merchant onboarding helps in getting more sales is by enabling businesses to offer more payment options to their customers. By integrating with a payment platform, businesses can accept a wider range of payment methods, including credit cards, debit cards, and e-wallets. This is important because it allows customers to pay with the method they prefer, which can increase the likelihood of a successful sale. Additionally, offering more payment options can help reduce cart abandonment rates, as customers are less likely to abandon their purchase if they can pay using their preferred method.
2) Improving the Checkout Experience
Another way that merchant onboarding helps in getting more sales is by improving the checkout experience. By integrating with a payment platform, businesses can offer a seamless checkout experience that reduces friction and frustration for customers. This includes features such as autofill, which allows customers to easily input their payment and shipping information, and one-click checkout, which streamlines the checkout process and reduces the number of steps required to complete a purchase. A smooth checkout experience can help reduce cart abandonment rates and increase the likelihood of repeat customers.
3) Increasing Customer Satisfaction
Finally, merchant onboarding helps in getting more sales by increasing overall customer satisfaction. By offering more payment options and improving the checkout experience, businesses can create a more positive and seamless purchasing experience for their customers. This can lead to higher customer satisfaction, which can in turn lead to more positive reviews, referrals, and repeat business. In addition, a seamless payment experience can help reduce the likelihood of chargebacks and fraud, which can improve the overall financial health of the business.
Conclusion
The fast-growing e-commerce branch, known as “quick commerce,” helped establish the modern delivery sector. Hence the startups are already revamping their business strategies by incorporating the Q-commerce model powered by the rise of state-of-the-art technologies such as drones, electric vehicles, dark store automation, voice ordering, etc. Indian e-commerce businesses must embrace this approach to stay ahead of the curve, given the industry’s intense rivalry since Q-commerce is indispensable for newer upgrades of the e-commerce supported by cutting-edge last-mile logistics technology, planning, and execution. for the Best merchant onboarding services connect with our team to understand more about our services, our execution and how we can scale your operations.
