Showing posts with label Jeddah Quick Commerce market. Show all posts
Showing posts with label Jeddah Quick Commerce market. Show all posts

Sunday, December 18, 2022

The Quick Commerce Market of Saudi Arabia is expected to witness a surge by 2026F, demand for quick deliveries & greater transparency will positively affect the Market: Ken Research

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1.  KSA Quick Commerce Market is currently at a nascent stage with ~15-20 players & has witnessed significant competition in terms of emergence of various companies.

Quick Commerce Market of Saudi Arabia

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With a CAGR of 64.1% in the period between 2018-2021, the quick commerce market as seen in KSA is currently at a growing stage. The market is moderately fragmented with presence of a few major brands dominating the market. Moreover, the city of Riyadh is a major contributor with more than 50% of the overall on-demand logistics order coming from the same.

2.  The Central region with Riyadh as the major Hub generated on-demand grocery delivery orders of around 2.7 Million in 2021.

Quick Commerce Industry of Saudi Arabia

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  • Riyadh & Jeddah are key hubs of the e-grocery segment in the country.
  • The central region represents the largest market with large middle & upper class & there are plenty of consumers with discretionary budgets available for a wide assortment of products.
  • Increased Internet penetration rate, quick access to smartphones, some of the prime factors responsible for large number of orders in these regions.

3.  KSA’s On-Demand Grocery delivery market is expected to grow at a CAGR of 92.5% during 2021-2026F

On-Demand Grocery delivery market

  • The number of orders are expected to rise to 808.4 million in 2026F, attributing to internet penetration across rural & urban areas.
  • Upgradation in technology such as GPS monitored robots, drones, inbuilt RFID, GPS & Telematics will be used for tracking inventory.
  • Simplified e-banking systems, improved logistics & changing lifestyles are also responsible for the growth in this sector.