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The Retail Battleground: Brick-and-Mortar vs. E-commerce and the Rise of Instant Delivery
Written By: Gargi Sarma
Introduction:
Figure 1: Growth Comparison of Retail Sectors, WorldWide (2015 - 2027)
Global Views on Brick-and-Mortar, E-commerce, and Quick Commerce
Figure 2: Estimated Value of the In-Store and E-Commerce Retail Sales Worldwide from 2022 and 2026
Remarkably, brick-and-mortar sales growth outpaced e-commerce growth for the first time in 2021 (Forbes, 2022). This demonstrates how much customers still want the in-person purchasing experience. But physical establishments run the risk of slipping behind if they don't adjust to the internet world, including by providing click-and-collect options.
In recent years, e-commerce has grown at an exponential rate. Global e-retail sales are predicted by Statista to reach USD 6.5 trillion by 2023, making up more than 22% of all retail sales. In emerging nations like India, where smartphone usage and internet penetration are rising quickly, this trend is especially noticeable.
Instant Delivery: A Revolution in Retail
Figure 4: GMV of Quick Commerce in India, 2023 (Source: Redseer) According to Redseer, by 2025, the rapid commerce market in India is expected to grow at a rate of 10-15 times faster than any other market, with a valuation of almost $5.5 billion. This will put it ahead of other markets, including China, in terms of the adoption of quick commerce.
Shifting Logistics and Delivery Investment Dynamics
Figure 5: Logistic Business Models Which are Attracting More Funding for Startups
Conclusion:
Businesses need to be competitive as the retail industry changes and adjusts to shifting consumer tastes and technological improvements. Although e-commerce and rapid delivery services have unheard-of development prospects, these business models' viability depends on tackling regional obstacles and making investments in creative solutions. Retailers may prosper in a world that is becoming more digitally and globally integrated by embracing innovation and comprehending the distinctive dynamics of various markets.
About RapidPricer
RapidPricer helps automate pricing and promotions for retailers. The company has capabilities in retail pricing, artificial intelligence and deep learning to compute merchandising actions for real-time execution in a retail environment.
Contact info:
Website: https://www.rapidpricer.com/
LinkedIn: https://www.linkedin.com/company/rapidpricer/
Email: [email protected]
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