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Quick Commerce - Georgia

Georgia

The Quick Commerce market in Georgia is projected to reach a revenue of US$2.71m in 2024.
It is expected to experience an annual growth rate (CAGR 2024-2029) of 15.42%, resulting in a projected market volume of US$5.55m by 2029.
In Georgia's Quick Commerce market, the number of users is expected to reach 195.6k users by 2029.
The user penetration rate, which is currently at 2.6% in 2024, is expected to rise to 5.3% by 2029.
The average revenue per user (ARPU) is projected to amount to US$28.22 in Georgia's Quick Commerce market.
In a global comparison, China is expected to generate the highest revenue in the Quick Commerce market, reaching US$80,840.00m in 2024.
Additionally, China holds the highest projected user penetration rate of 21.4%.
In Georgia, the Quick Commerce market is experiencing a surge in demand due to the convenience and time-saving benefits it offers to busy urban dwellers.

Market

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Analyst Opinion

Quick Commerce, also known as Q-commerce, is a rapidly growing market in Georgia. This market allows customers to order and receive products within a short period of time, often within an hour.

Customer preferences: Customers in Georgia are increasingly looking for convenience in their shopping experience. With busy lifestyles and limited time, the ability to quickly order and receive products is becoming more important. Quick Commerce offers a solution that meets this demand, allowing customers to receive products quickly and easily. Additionally, customers are increasingly concerned about the safety of in-person shopping during the COVID-19 pandemic, making Q-commerce an attractive option.

Trends in the market: The Q-commerce market in Georgia is growing rapidly, with new companies entering the market regularly. This has led to increased competition and innovation, with companies offering new products and services to attract customers. Additionally, there has been a trend towards partnerships between Q-commerce companies and traditional retailers, allowing customers to order products from their favorite stores through Q-commerce platforms. Another trend is the use of technology, such as drones and autonomous vehicles, to deliver products quickly and efficiently.

Local special circumstances: Georgia has a unique geography that presents both opportunities and challenges for Q-commerce. The country is relatively small, with a population of just under 4 million people, which makes it easier for Q-commerce companies to reach a large percentage of the population. However, the country's mountainous terrain can make delivery difficult in some areas. Additionally, the country's economy is still developing, which means that many customers may not have access to the latest technology or may not be familiar with Q-commerce platforms.

Underlying macroeconomic factors: Georgia's economy has been growing steadily in recent years, which has led to increased consumer spending. Additionally, the country's government has been working to improve infrastructure and attract foreign investment, which has helped to create a favorable business environment. These factors have contributed to the growth of the Q-commerce market in Georgia, as more customers have disposable income and are willing to try new products and services. However, the COVID-19 pandemic has also had an impact on the market, with many customers turning to Q-commerce as a safer alternative to in-person shopping.

Methodology

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.