Quick Commerce, also known as Q-Commerce, is a relatively new concept that has been gaining popularity in the e-commerce industry. In Finland, the Quick Commerce market is developing at a steady pace, driven by various factors.
Customer preferences: Finnish consumers are increasingly looking for convenience and speed when it comes to online shopping. The Quick Commerce market caters to this demand by offering fast and efficient delivery services. Customers can now receive their orders within minutes or hours, as opposed to waiting for days or even weeks. Additionally, the COVID-19 pandemic has further accelerated the shift towards online shopping, as consumers prefer to avoid physical stores.
Trends in the market: The Quick Commerce market in Finland is witnessing a trend towards partnerships and collaborations between established retailers and Q-Commerce platforms. This allows retailers to expand their reach and offer faster delivery options to their customers. Furthermore, the market is also seeing an increase in the use of autonomous vehicles and drones for delivery, which further reduces delivery times.
Local special circumstances: Finland has a unique geography, with a large number of islands and remote areas. This makes traditional delivery methods challenging and time-consuming. The Quick Commerce market offers a solution to this problem by providing fast and efficient delivery services to even the most remote areas.
Underlying macroeconomic factors: Finland has a highly developed e-commerce market, with a large number of online shoppers. The country also has a high standard of living and a strong economy, which means that consumers have the purchasing power to afford Quick Commerce services. Additionally, Finland has a well-developed infrastructure, which makes it easier for Q-Commerce platforms to operate and expand their services.In conclusion, the Quick Commerce market in Finland is growing steadily, driven by the increasing demand for convenience and speed in online shopping. The market is witnessing a trend towards partnerships and collaborations, as well as the use of autonomous vehicles and drones for delivery. Finland's unique geography and well-developed infrastructure make it an ideal market for Quick Commerce services.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.Modeling approach / Market size:
Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.Additional notes:
The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.
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