3 Major Quick Commerce Problems Resolved Through mScanIt
E-commerce paced up the sale of products largely due to convenience, and quick commerce is boosting these sales through faster deliveries. Earlier online shopping orders were delivered within a week. Then, Amazon introduced two-day, one-day, and same-day delivery, implementing the same approach for groceries or daily need products. Today, Dunzo, Instamart, Zepto, BlinkIt, and other brands have become pioneers in quick deliveries.
Quick commerce refers to the delivery of online orders within 15â30 minutes. The fast-delivery concept was first implemented by Dominoâs, and you can recall it if you ever received a free pizza due to a delay in delivery. Quick commerce has rapidly gained the attention of Gen Z and millennials who want to watch their favorite sport or movie at home.
How Quick Commerce Works?
The general concept of Q-Com is that the customer adds products to the basket, and places an order, which is received by the platform, packaged, collected by the delivery partner, and delivered to the customerâs doorstep. Essentially, Q-Commerce is a form of e-commerce; however, the brands have separate warehouses, commonly referred to as âdark stores,â and deliver within 30 minutes. But, initially, Grofers (now BlinkIt) began the concept of fast doorstep delivery by connecting with local retailers.
Also, unlike e-com orders, which often include delivery charges unless a minimum order value is passed, many Q-Com brands offer cheaper cost products in small basket orders with no such fee. Moreover, customers have the option to make orders 24Ă7, which likely results in impulsive buying during overnight stays, all-night parties, etc.
Challenges Faced by Q-Com Brands and mScanIt Solutions
Globally, 52% of online shoppers make purchase decisions because of the delivery speed, whereas 38% of consumers buy products due to free or discounted shipping. We have already covered that most Q-Com brands offer both of these advantages. Also, the price was the main reason that influenced the shopping decisions of 87% of the consumers in the U.S.
So, it would be safe to assume that when delivery speed and fee are no longer concerns, it will remain the likely choice unless the desired product or its quantity remains unavailable. Under such a scenario, keeping an optimal price becomes a primary concern of the Q-Com brands, and keeping an eye on the competitors becomes necessary. mScanIt helps brands review the price differences across online shopping platforms, resolving one of the biggest issues.
Managing Stock Availability
Stockouts are one of the leading reasons for switching apps, brands, or variants. Also, consumer behavior is rapidly evolving due to Q-Commerce. The changing needs demand managing the growing stock availability and avoiding stockouts.
With rapid orders and impulsive buying heightened, the need to manage stocks at pin code, zonal, platform, sub-category, sub-variant, and other levels becomes important. mScanIt meets these requirements by showing stock availability daily, weekly, and monthly, with real-time insights, while showing competitor availability across online marketplaces.
The analytics deep-dive into stock availability and help brands avoid stockouts at distinct levels to meet the forecasted requirements.
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