Naved Ahmed Khan

Reader. Writer. Interested in Economy, Geopolitics, Sports & Tech.

[navedahmedkhan]

From Electronics and Clothing to Food and Pharmaceuticals, Ecommerce is Omnipresent.

In today’s world, it is nearly impossible to think about shopping without ecommerce. It has completely engulfed the entire retail industry. A futuristic retail business cannot afford to remain offline, especially after the pandemic when offline businesses were either forced to exit or face loss. Retail businesses turned to modern advanced technology and went online which not only kept them afloat but also brought sales and profit.

One can find almost all the desired products online on his ecommerce marketplace app. With just a few clicks or touches, a customer can enter into the world of online shopping where multiple vendors display their digital catalogue and place orders smoothly. All this has been made possible due to the power of multi vendor marketplace software that is delivering multiple benefits to the stakeholders involved in online shopping.

Multiple vendors on the same platform: Instead of having dedicated ecommerce software for each vendor to display their products, online marketplace software allows them to use one single platform to sell their items. Amazon and Flipkart are the best examples. A new vendor on the platform doesn’t have to invest heavily in marketing as he gets an already built customer base in the marketplace.

A variety of products: Due to the availability of multiple vendors on a single platform, the customers don’t have to jump from one platform to another in order to find the best products at the best price. They can find everything on the same platform thereby, reducing their efforts and saving their precious time.

Super fast delivery: Timely delivery has become a major factor in determining the success of any online business. Failing to deliver the product in the stipulated time, spoils the shopping experience of the customer. Keeping note of this, the multi vendor marketplace software has brought end-to-end automation in the entire ordering and delivery process. For instance, the delivery agent can find the optimized delivery route on their driver app in order to contribute to achieving quick commerce.

The ease of uploading items: With the help of the vendor’s dedicated merchant app, the sellers can upload items in bulk ranging from electronics and clothes to food and pharmaceuticals in just a click or touch. This makes the work of sellers easy. Also, the ease of product upload helps the customers in finding a variety of items on a marketplace.

In the eCommerce Market, the number of users is expected to amount to 2.5bn users by 2028. User penetration will be 29.7% in 2023 and is expected to hit 34.1% by 2028. Going through the data above, it is evident that ecommerce is omnipresent and is going to exist for a long time. Thus, prudent businesses will be ones that will walk along with the advancing technology.

[navedahmedkhan]

To boost the profit of your restaurant, going online is a must.

During the pandemic, restaurants across the world were severely affected due to the confinement of the people. At that time of crisis, several restaurant businesses ceased to exist however, the smarter ones took advantage of the advancing technology. Technology not only kept them afloat but also delivered increased sales and profit.

Though the number of visitors has increased to the food outlet the number of online customers has only increased. This indicates the increased demand for ordering food online and getting it delivered to their doorsteps.

The reason behind the success of online ordering and delivery of food is the food delivery software that delivers to restaurant owners whatever they need to make their business thrive.

Convenience: The restaurants could easily upload their digital menu with attractive images along with the product specifications and prices with discounts to beautify their online front. Similarly, customers through a few clicks or touches of their smartphones could place an order for their favourite dish.

Superfast delivery: Food delivery businesses with the help of quick commerce software have drastically reduced the time taken to deliver the items to the customers’ location. Quick commerce is the direct result of technological advancements, including end-to-end automation. Now customers are able to receive fresh and hot food in 10 to 15 minutes.

Increased customer base: By on boarding multi vendor marketplace software, the restaurants can find new customers that will skyrocket their sales and profit. The online food marketplace increases the reach of the restaurants or in other words, assists in the marketing.

Create attractive offers: With the help of food delivery software, restaurant owners can create offers and discounts that will force more customers to place orders and increase their profits.

[navedahmedkhan]

Local Delivery Software: Weapon that kept businesses afloat during the pandemic

The pandemic has shown the importance of online ordering and delivery where consumers confined within the boundaries of their homes were able to get items on their doorsteps thus ensuring safety and quickness.

Local delivery software turned out to be a boon for the small and medium businesses that could not bear the brunt of zero sales. Multiple such small businesses ceased to exist during the pandemic. However, prudent businesses that backed their operations with the cutting-edge latest technology gained a competitive edge during the crisis. Local delivery software not only kept them afloat but also delivered sales and profit.

The local delivery software delivered the following benefits to businesses and consumers:

Automation: The cutting-edge technology used in the local delivery software makes it indispensable for a business to run without it. The software delivers end-to-end automation in the ordering and delivery process. With a few touches of smartphone, the consumer is able to place his order which reaches the seller who prepares the order and hands it over to the delivery agent. The delivery agent with the help of the driver reaches the customer’s address quickly thus, achieving quick commerce.

Superfast delivery: Quick commerce platform displays the nearest sellers to the customer depending upon the delivery address reduces distance and delivery time drastically. The delivery agent aware about the neighborhood routes delivers the order in minimum time.

Easy payment settlement: Timely and smooth payment acts as a backbone for any business. Local delivery software has the capability of being integrated with multiple payment options like Stripe and PayPal for the business owner to select for their as well as their customers’ convenience.

[navedahmedkhan]

Effectiveness of hyperlocal ecommerce software in today’s world

Consumer behaviour never remains the same. It keeps on evolving as per the changes taking place around them. This can be witnessed in the last few decades. Earlier consumers were content with the physical shopping from brick-and-mortar stores but after the introduction of cutting-edge technology in the form of smartphones and internet, online shopping became a trend.

Due to advanced technology, quick commerce has become the most loved thing among consumers. Quick commerce is the delivery of goods to the consumer's doorsteps in the minimum possible time. 10-minute delivery is the direct result of it. The backbone behind this quick commerce is the ecommerce delivery software that brings automation and productivity into the buying and selling business.

The software allows multiple sellers to sell their products from a single platform which means customers do not have to jump from one ecommerce platform to another in order to match specifications and prices before going for a purchase.

Based on the location of the consumer, the software shows the nearest available stores that makes the delivery superfast and helps in keeping the quality of the items like food intact.

Consumers accompanied with the ordering app, sellers with the merchant app, and delivery agents with the driver app, makes the process sublime for respective stakeholders. With the touch of the screen or click of smartphones, they can perform their task easily and quickly.

The driver app shows the optimized route to the delivery agent for them to perform their task in the minimum time thereby, contributing to the quick commerce.

As the technology continues to progress, ecommerce delivery solutions will evolve as well by bringing in new features and functionalities to meet the market dynamics. The smart and far-sighted ecommerce businesses will be the one that are backed by hyperlocal delivery software.

[navedahmedkhan]

Can your retail business afford to remain offline?

Since the leapfrogging progress of technology in the last century, one cannot imagine the growth of a business without the support of cutting edge tools.

Technology has not only produced out of the box tools like smartphones and high speed internet for the convenience of consumers but also turned out to be a growth booster for businesses.

Retail industry is among the industries that cannot imagine its growth in the modern era without the support of technology. Ecommerce, introduced to the world at the turn of the last century, is the online buying and selling of goods that took the retail industry to another level.

Ecommerce delivered unparalleled convenience to both the consumers as well as other stakeholders involved in it. Consumers could place orders while sitting at their homes and workplaces, and get them delivered at their desired location. Similarly, businesses could easily increase their customer base and thereby, profit while selling through multi vendor ecommerce software.

Due to further progress in technology, consumers are getting more addicted to the local delivery software that is able to help businesses achieve quick commerce. Today, quick commerce has become the most desired thing among the consumer and retail businesses because of making 10 minutes delivery a possibility. Businesses failing to go online will not be able to realize its far-reaching benefits.

As per Statista, revenue in the eCommerce market is projected to reach US$3.64tn in 2023 and is expected to show an annual growth rate (CAGR 2023-2027) of 11.17%, resulting in a projected market volume of US$5.56tn by 2027. The number of users in this market is expected to amount to 5.3bn users by 2027.

[navedahmedkhan]

How is ecommerce evolving consumer behaviour?

Customers always look for things that bring them convenience. Rapid advancements in technology in the last century have produced cutting edge tools that eased lives and brought immense convenience for the people.

Ecommerce, which is the online buying and selling of goods, was the direct result of technological advancements. Brought at the turn of the last century, ecommerce changed the landscape of the retail industry and brought the much desired convenience for consumers.

Ecommerce marketplace platform has become the favourite shopping destination for consumers. In 2021, retail e-commerce sales amounted to approximately 5.2 trillion U.S. dollars worldwide. This figure is forecast to grow by 56 per cent over the next years, reaching about 8.1 trillion dollars by 2026.

The reason behind this fierce adoption and growth of ecommerce marketplaces has been the changed consumer behaviour. Customers are equipped with smartphones and high-speed internet which leads to shopping easily in a few clicks.

With the help of the ordering app of an ecommerce marketplace platform, consumers navigate through the diversity of vendors selling different products online. Within a few clicks, the consumers place their orders and get them delivered to their doorsteps.

The leapfrogging growth of technology has improved ecommerce marketplace software by introducing automation and personalization which has led to the realization of quick commerce. Due to quick commerce, deliveries are being performed within half an hour or even within 10 minutes which further boosts the shopping experience of the consumers.

Nowadays, from food and medicines to clothes and electronics, everything can be found on ecommerce platforms. Thus, further eliminating the need for the customers to leave their places of comfort and move out to shop. This shows that the ecommerce, backed by cutting edge technology, is and will continue to evolve consumer behavior.

[navedahmedkhan]

Role of Modern Payment Gateways in the Ecommerce Industry

Technology has become ubiquitous across the industries. In any business, the role of technology is not confined to performing a particular function. It is responsible for making all the business operations efficient and streamlined.

One of the industries where the role of technology has been crucial is the ecommerce industry. From placing orders by the customer to performing the delivery by the agent, the technology has a role to play.

The payment transaction is considered to be an essential part of any business. The role of payment transactions increases manifold when the transactions are done online as it contributes an important part to the shopping journey of a buyer.

Any ecommerce marketplace platform not providing smooth transactions to the customers is going to negatively impact the sales of the business. Payment transaction methods should be business-friendly.

Buyers should be able to find the payment method of their choice and complete the purchase in a few clicks or touches of a smartphone. Similarly, the vendors and the aggregator should be able to receive their part of the amount smoothly and instantly.

The developers are leaving no stone unturned in making the ecommerce marketplace software efficient and business-friendly.

Businesses have got the luxury of integrating the ecommerce platform with the payment method of their choice.

Not just the ecommerce websites but the mobile ordering apps also provide the facility of online payment through the gateway of consumers’ choice.

The advancements in technology have led to the introduction of automatic settlement of payments between the aggregator and the vendors. As soon as the buyer makes the payment, the amount is instantly split between the aggregator and the vendor. This indicates that the multi vendor marketplace software not only keeps consumer convenience at the forefront but also boosts the experience of the sellers as well.

According to the Market Statsville Group (MSG), the global payment gateway market size is expected to grow from USD 39,118.86 million in 2022 to USD 204,011.03 million by 2033, growing at a CAGR of 16.2% from 2023 to 2033. The payment gateway market has witnessed significant growth in recent years, driven by the rapid expansion of e-commerce and digital payment solutions.

[navedahmedkhan]

How are local delivery services making quick commerce a reality?

The demands of the consumers keep on evolving along with the growth in technology. When the ecommerce was introduced three decades ago in the mid-90s, the consumers embraced it due to the convenience delivered by it.

With the help of a few clicks on the ecommerce website, the consumers were able to place their orders and get them delivered to their doorsteps in three to four days. However, as the technology kept on growing, the early ecommerce model was unable to meet the rising demands of the consumers. Speed became a dominant factor and the delivery in four days began to be disliked by the customers.

Technology met this rising demand of the customers by delivering cutting-edge tools that helped the consumers and other stakeholders involved in the online ordering and delivery realize quick commerce.

Local delivery software is one of the innovations of the 21st century that revolutionized the ecommerce industry. It helped the consumers taste the ultimate convenience by delivering them the goods in a day or even within an hour. Today, 10 minutes delivery has become a trend. Businesses failing to achieve speedy delivery are thrown out of the race.

Local delivery service is able to deliver quick commerce due to the following reasons:

Both the vendor and the buyer located in close proximity: Due to the small geographical area within which the ordering and delivery service takes place, the delivery agents are able to deliver in less time. The familiarity with the local area helps the delivery agents perform their tasks without any hassle. Thus, both small areas as well as the awareness about the local area help achieve quick commerce.

Utilizing cutting-edge local delivery software: Closed geographical proximity is not the sole reason behind the achievement of quick commerce. The role played by the local delivery software is paramount. It brings in artificial intelligence, and end-to-end automation, among others in the ordering and delivery process. Automation at every turn of the local delivery process brings in speed and accuracy that boosts the overall productivity of the business.

The demand for local delivery services and quick commerce can be determined by the data shared by Statista. It states that the revenue in the quick commerce segment is projected to reach US$1,578.00m in 2023 and is expected to show an annual growth rate (CAGR 2023-2027) of 49.52%, resulting in a projected market volume of US$7,886.00m by 2027.

[navedahmedkhan]

Role played by Geofencing in ecommerce marketplace platforms

The world is witnessing advanced growth in technology and its application in the businesses across the industries.

One such industry that has undergone tremendous changes in the last two to three decades is the retail industry. Ecommerce was the drastic change brought in the retail industry due to the intense application of technology in the form of smartphones, high-speed internet connectivity and ecommerce software. Ecommerce is the buying and selling of goods through the online mode.

Thirty years have passed since the inception of ecommerce in the retail world and there's hardly any region in the world unaffected by it. According to Statista, the ecommerce market worldwide is projected to grow by 11.17% (2023-2027) resulting in a market volume of US$5.56tn in 2027.

Geofencing is one such feature provided in the ecommerce marketplace software that has transformed the entire delivery process. It lets the businesses carve out the areas where they want to deliver or where they can quickly deliver the items without any hassles.

Geofencing depends upon the delivery address. If the delivery address falls within the area carved out by the business on Google Maps, the ecommerce marketplace software lets you place the order or else it will restrict you from doing it.

Geofencing has turned out to be extremely helpful in the case of food delivery platforms where delivery timing and freshness of the cooked meal play an essential role. Any delayed delivery spoils the experience of the consumers forcing them to drift towards your rival’s platform.

Geofencing lets the ecommerce marketplace platforms achieve quick commerce which has become a trend nowadays. Failing to deliver the item in the shortest possible time shrinks your customer base. Through geo-fencing, the business can mark out the areas where timely delivery, due to rain or any other reason, is difficult to achieve. This helps the quick commerce software perform the timely delivery and achieve the much desired quick commerce.

Thus, we can see how a single feature of an ecommerce marketplace platform can be a game changer in the retail industry.

[navedahmedkhan]

Food Delivery Software: Helping You for a Party

Technology has delivered unmatchable convenience to the people. It has provided speed, accuracy and productivity not only in the businesses but also in our day-to-day lives.

Online food ordering and delivery is one of the many things introduced by the advancing technology that made a drastic impact upon our lives. Prior to food businesses going online, we relied upon offline modes to seek our desired dish. We either used to move out of our homes or workplaces and travel to the desired restaurant or we cooked ourselves.

However, the transition of restaurants and other food vendors from offline to online provided convenience we never imagined. We can get our favourite dish on our tables without stepping out of our comfort zones.

Food delivery software plays a crucial role in making a party successful.

Convenience: Getting the hot meal on our tables without any effort except a few clicks or touches on the smartphones is like a dream come true. Food delivery platforms are able to deliver the food we need in a minimum time to the destination of our choice. This is the biggest convenience delivered by the online food business to the consumers.

Food delivery in desired quantity: Party, at times, requires a large amount of food to be cooked for a sizeable number of guests. Food delivery app turns out to be our best friend at this time. We can order a desired quantity of food from our favourite food vendors for our guests.

Diversity of food: Usually, we order a variety of food items for a party. Thanks to multi vendor marketplace platforms that allow a variety of food businesses to sell online. Thus, we are not forced to order from a particular vendor but we can get a variety of dishes delivered from different food vendors.

Cost-effective: The availability of multiple food sellers on a single platform makes it easier for you to explore your favourite dish at the best price. You can’t just compare the prices of the dishes from different sellers but also go through reviews and ratings to find the best for you.

Faster delivery: Nowadays, delivery in 10 minutes has become a trend. Businesses failing to achieve quick commerce are bound to lose their customer base. Therefore, when you need the food for your guests in the blink of an eye, food delivery software turns out to be your best friend.

The convenience delivered by the advancing technology in the form of food delivery solutions is unmatchable. It lets you spend a good time with your guests by taking the hard work like cooking on its side.

[navedahmedkhan]

Mobile Applications: Must Tools for Ecommerce Businesses

The business landscape has changed drastically ever since the advanced technology crept into its operations in leaps and bounds.

Ecommerce is among the industries that emerged solely due to the rapid progress in technology.

Prior to the emergence of ecommerce in the late 1990s, physical shopping was the only mode for the buying and selling of the products. However, the introduction of ecommerce changed this trend. Shopping online from the comfort of the home or workplace has become the norm.

The forms of technology that are able to deliver unparalleled convenience to the consumers and increased profitability in the ecommerce businesses are the penetration of smartphones and high-speed connectivity.

Easy to Shop: Mobile applications have been delivering convenience and comfort to the customers which they have not thought of during the days of offline shopping. With a few clicks or touches on the smartphone screen, the customers can place an order for their desired products and get them delivered to their doorstep.

Personalized shopping experience for the buyers: An ecommerce marketplace platform has the capacity to onboard a wide range of vendors to sell their respective products. An ecommerce platform devoid of personalization will require the consumers to put in more effort to discover their required products. The instant discovery of the desired products through personalization assists in quick commerce which has become a trend nowadays as it helps in the delivery of products in minimum time.

Great tool for marketing: Customers carrying their smartphones with them most of the time, create a great opportunity for the businesses to facilitate their marketing. Nowadays, with the help of mobile applications, the consumers can be informed about the latest offers and discounts through the tools like instant push notifications, e-mails, etc. With the help of these tools, customers can be kept retained and engaged with the ecommerce marketplace platform.

Boosts the overall shopping experience: The mobile applications not only help in making ordering sublime but also deliver the utmost convenience throughout the ordering and delivery journey. With the help of the live-order tracking feature of the mobile application, the consumers can view the exact location of their order and the delivery time. This prevents the customers from calling the seller or the delivery agent. Assisting the delivery agents: Consumers are not the sole beneficiaries of the mobile applications. The delivery agents enjoy the benefits of mobile apps as well. From displaying the optimized delivery route to tracking their earnings, all can be done on a single driver app of the multi vendor ecommerce platform.

[navedahmedkhan]

Hyperlocal Ecommerce Delivery Software: Delivering Customers What They Desire The Most

With time, consumer preferences have evolved. A decade or two ago, time was not an issue even if the product was delivered in three or even more days.

However, progress in technology has brought advanced cutting edge tools that made the consumers realize the convenience they never experienced. With a click or touch of their smartphones, consumers can select through a wide range of products displayed on an ecommerce marketplace platform and get them delivered within half an hour or even in the blink of an eye.

 Yes, you read it right. Delivery in the blink of an eye has been made a new normal due to the adoption of the quick commerce model which is the result of the inclusion of the state-of-the-art tools into the ecommerce delivery software.

Automation: End-to-end automation is the dream of every ecommerce business. The advanced technology has made end-to-end automation a reality.  From the customer placing the order to assigning it to the delivery agent for fulfillment has been automated. This drastically reduces the delivery time thereby, assisting in the accomplishment of quick commerce.

Personalization: Ecommerce businesses have started giving importance to personalization more than ever due to its intense demand by the consumers. Failing to deliver the level of personalization demanded by the buyers drives them away to the rival’s ecommerce marketplace platform. The consumers do not want to spend searching for their desired products from the never-ending list of goods.

Accelerating the delivery: Delivery is considered to be the most essential link in the ordering and delivery process. It plays a major role in the success of the ecommerce business. Any delay in the delivery spoils the shopping experience of the fast-forward customers who admire 10 minute delivery. Technology has ensured timely delivery by bringing automation in the form of automatic assignment of orders to the most suitable delivery guy. The driver app, in turn, further assists the delivery agent in achieving quick commerce by displaying the optimized delivery route.

The businesses, with the advancement of technology, will get further surprises from ecommerce delivery software in the form of profit maximization and expanding their customer base.

[navedahmedkhan]

Technology at the helm: Effectiveness of Robots in Ecommerce Marketplace Platforms

As technology keeps on advancing, it will introduce cutting-edge tools that will further revolutionize the business landscape. Among the businesses that are being heavily impacted by this growth are the ones in the ecommerce industry.

Ecommerce has delivered unparalleled convenience to both the sellers as well as the consumers. By witnessing an increased customer base, profit maximization, and sales during the critical time of the pandemic, ecommerce turned out to be a saviour for the online sellers. Similarly, the consumers got the convenience and comfort of getting their desired goods in the blink of an eye without stepping out of their homes.

The pace with which the technology is progressing brings new surprises from time to time. The introduction of robots has made the businesses more productive and eased the work of the employees. The robotics market is forecast to reach $218 billion by 2030, according to the latest worldwide study by GlobalData.

The usage of robots in the ecommerce sector has taken operations to the next level. Today, there is an intense demand for quick commerce due to which the products are being delivered to the customers' doorsteps in minimum possible time. To achieve this feat, the ecommerce marketplace platforms are utilizing automated robots to perform various tasks involved in the ordering and delivery process.

Robots in advanced warehouses: Once the placed order reaches the seller, the role of robots comes into play. They automatically get the information regarding the items ordered and proceed to collect, assemble, pack and make them ready to be delivered. The usage of robots brings in speed and accuracy that increases the overall productivity of the business.

Robots performing delivery: Giants of ecommerce marketplaces are performing experiments with drones and robots in the field of delivery. If robots turn out to be effective, it will drastically boost the productivity of businesses. With drones in play, they can bypass all the traffic and make sure that the delivery is performed in minutes.

The advancing technology will bring in more automation and improved connectivity that will further boost the performance of ecommerce marketplace platforms.

[navedahmedkhan]

Is your Food Delivery Platform protecting the environment?

Efforts are being undertaken by businesses and governments to protect the environment. One such business that can impact positively is the online ordering and delivery of food.

Food is an essential item needed by every living being. With the progress in technology and the increased sedentary lifestyle of consumers, the trend of online food ordering and delivery is on the rise.

With a click or touch of a smartphone, consumers can place their orders for their favourite dishes and get them delivered to their doorsteps within 15 to 20 minutes. This increased convenience has led to an increased number of consumers turning towards food delivery platforms.

When ordering food online has become a global trend, bringing eco-friendly practices into it can contribute to environmental protection.

Below are a few eco-friendly steps that can be undertaken by the stakeholders involved in the food delivery businesses.

Using the Quick Commerce model: Delivering the food to the customers' doorsteps in the minimum possible time has become a trend. Any delay in delivery will drift the consumers to the rival food delivery platforms. Thus, online food businesses must ensure that they adopt quick commerce into their operation to maximize their profit and customer base. Quick commerce is the adoption of technology and techniques that will favour the business in delivering the goods in half an hour or even within 10 minutes. Bringing quick commerce into practice will not only help the businesses grow but also help the environment by less fuel consumption for delivering the item.

Nudging the consumers to adopt eco-friendly practices: The best results can be achieved only when the consumers are interested in a positive change. The business gets the power from its customers. Thus, if customers are unwilling to take eco-friendly steps then the progress will be negligible. Taking this into perspective, the food delivery solutions can nudge their customers to order food without single-use cutlery. Single-use cutlery is thrown into the environment that adds up in the plastic waste thus, causing both land and sea pollution. Various online food platforms are nudging their customers to go for plastic-free food ordering by either displaying an information banner or by selecting 'without cutlery' by default. A study conducted in collaboration with an online food delivery platform in China found that making “no disposable cutlery” the default choice for orders and rewarding customers with “green points” led to a 648% increase in the share of no-cutlery orders.

Using electric vehicles for delivery: Today there is a huge demand for the adoption of environmentally friendly technologies in the business. Delivery of items is an important component of the online food business. Thus, making it pollution-free will contribute to environmental protection. To perform the deliveries, businesses can utilize electrical vehicles to perform the delivery to the consumers' doorsteps. Food delivery is a trend globally and making it green will help a lot in mitigating and healing the environment.

[navedahmedkhan]

Reasons behind the furore of Quick Commerce

It's time for ecommerce businesses to drop the idea of growth without meeting the consumers' expectation of rapid delivery. With the advancements in technology, delivery within an hour or even within 10 minutes is most demanded by the buyers of an ecommerce business.

To meet this expectation of instant delivery, ecommerce businesses are forced to adopt quick commerce. With the adoption of quick commerce as their business model, online sellers involved in it are able to deliver the products desired by the consumers in less than 15 minutes.

The major factors behind the furore of quick commerce are:

Firstly, there are local marketplaces in the vicinity of the buyers that have the products, desired by the consumers, available with them. When these local marketplaces or vendors sell online, it becomes a boom for the sellers as well as the buyers. This drastically reduces the delivery distance and the delivery fee which ultimately contributes to quick commerce.

Secondly, the progress in the field of technology has been able to develop local delivery software that is playing a major role in the realization of quick commerce. These local delivery solutions are powered with the cutting-edge tools that deliver automation, speed, accuracy, and convenience in the ordering and delivery process. Overall, these delivery software increase the productivity of local online businesses.

As the technology continues to move with leaps and bounds, it will provide the stakeholders involved in the hyperlocal ecommerce with more advanced tools that will further push the adoption of local delivery and quick commerce.

[navedahmedkhan]

How is Data Analytics transforming ecommerce businesses?

Data analytics is the data fetched through the software that can be used for better decision-making by businesses. The data in the realm of ecommerce can be of the buying behaviour of the customers, the product making the maximum and minimum sale, and the vendor selling the products of the maximum value on the multi vendor marketplace platform, among others.

The large amount of data gathered from the ecommerce marketplace platform helps the business in the following ways:

Better Inventory and Supply Chain Management: By learning about the buying behaviours of the customers, a business could make an informed decision that will help them manage the inventory efficiently. It will help them prevent overstock or out-of-stock and deliver the desired items to consumers on time. Knowing the number of products to be in stock and at what time, helps businesses maintain their supply effectively.

Personalization: Displaying the products most liked by customers requires a large amount of data on their buying behaviour. The data collected on the ecommerce marketplace platform helps the business perform personalization that makes their customers go for more products and increase their cart value. The joyful shopping experience increases the number of your loyal customers. Marketing Charts states that personalization is a key coming priority. It further states that real-time delivery and data personalization will be a top priority for almost half (49%) of businesses. 46% of respondents will delve deeper into data acquisition and serve even more personalized content.

Faster delivery: Data analytics help businesses achieve quick commerce. The data collected on the route tracked by the delivery agents helps the software come up with the route that assists in faster and safer delivery. Apart from maintaining the safety and convenience of the delivery agents, it helps the customers experience the ultimate satisfaction through instant delivery. Q-commerce has gained significant traction in roughly all corners of the world, garnering over 400 million q-commerce users globally in 2022. Though the list of q-commerce players is a lengthy one, a prominent player in the quick commerce market is Istanbul-based Getir, which has raised close to two billion U.S. dollars in funding as of 2023. Similarly, in the United States, Gopuff outdid competitors in the quick commerce market, with more than 3.4 billion U.S. dollars in funding. It is estimated that more than 26 billion U.S. dollars will be generated in the quick commerce market in the United States in 2023.

Thus, it can be seen that through the proper utilization of data analytics, a business can achieve and deliver a lot to its customers and other stakeholders involved.

[navedahmedkhan]

5 posts!