India's qcom market projected to touch $70-90 billion by FY31: Redseer

Redseer and Google expect the market to grow at a 41-48 per cent CAGR, with monthly transacting users crossing 100 million as non-metro adoption accelerates

India’s quick commerce (qcom) market is projected to grow nearly five-seven times to $70-90 billion by FY31 from around $13 billion in FY26, driven by deeper penetration in metros and rapid expansion in non-metro markets, according to a report by Redseer Strategy Consultants and Google.

 

The market is expected to grow at a compound annual growth rate (CAGR) of 41-48 per cent and account for nearly 5 per cent of the country’s overall retail market by FY31.

 

Monthly transacting users (MTUs) are projected to cross 100 million during the period. 

 

Speaking at the launch of the report, Kushal Bhatnagar, partner at Redseer Strategy Consultants, said that while the qcom market is expected to capture nearly 5 per cent of India’s retail market by FY31, the share could rise to as much as 10 per cent over the next decade, between FY35 and FY40.

 

 

The report said future growth would be driven not only by deeper adoption in metropolitan markets but also by rapid expansion into non-metro cities.

 

However, it identified low-ticket economics, freshness concerns and lack of consumer trust as key barriers in non-metro markets.

 

In metropolitan markets, assortment, pricing, quality and hygiene remain critical hurdles to shifting a larger share of grocery purchases online, the report said. 

Overcoming these barriers will be important as quick commerce platforms seek to move beyond top-up and convenience purchases and capture a larger share of household retail spending.