Top 11 Ways Retailers Can Compete With Quick Commerce Platforms » The Retail Guru

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11 Ways Retailers Can Compete With Quick Commerce Platforms

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how retailers can compete with quick commerce

There is no doubt that quick commerce has been a great convenience for consumers who prioritize online shopping over in-store. Still, in reality, it is affecting retail and small businesses.

Retailers were losing business due to online competition from business giants like Amazon, Flipkart, Dunzo, Big Basket, and Blinkit. The introduction of quick commerce by these firms with the shortest possible delivery time (10 mins- 60 mins) has made it worse.

During the lockdown, all e-commerce companies battled numerous local constraints, resulting in delayed services. At such time, retail businesses stepped in to fill the demand and supply gap by bringing essentials to the neighborhood much faster than e-commerce giants. 

Retail stores and small businesses are essential for India’s economy. However, retailers need to find better ways and technologies like retail POS software with omnichannel ecommerce capabilities to combat these quick commerce companies. 

In this article, we discuss practical ways for retailers to compete with QuickCommerce platforms and gain momentum in their business. 

What is Quick Commerce?

Quick commerce is a next-generation e-commerce offering hyper-local and ultra-fast delivery. It allows the customer to shop for products online and get immediate delivery within one hour. The consumer will not wait one or two days.

Quick commerce offers online purchasing for groceries, personal care products, and household necessities. Food, drinks, cosmetics, medications, and gift goods are all available on Quick Commerce platforms. Consumers can order groceries and food deliveries from the comfort of their homes.

This business model has steadily grown over the past few years. 

The Quick Commerce (Quick Commerce) Market in India is expected to experience substantial growth, with a compound annual growth rate (CAGR) of 63% from 2023 to 2030. BBnow, Swiggy Instamart, Zepto, and Blinkit are big players in this category. They started in the past two or three years. 

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(Source: TechCrunch)

They are giving tough competition to neighborhood shops and local stores.

How Can Retailers Deal with Competition from Quick Commerce? 

We share 11 unique ways to save your business from infiltration of quick commerce and increase your business. 

Blog 2 1

Let us dive in:

1. Capture the local market

Small retailers can capture the local community market by focusing on the needs and preferences of residents. You can create a loyal customer base through convenience and personalized service. Collect their data like mobile number, email, and address and start sending customers personalized offers, birthday wishes, reminders to buy again, and new stock alerts. Use POS software that has features like a contact module to save consumer data and set automated alerts. 

If you specialize in niche products like cosmetics, bakery items, or regular household essentials, you get a preference in your local area. It offers a sense of community and familiarity, making shopping a more enjoyable and social experience.

Moreover, Word-of-mouth marketing plays a crucial role in this strategy, as satisfied customers are likely to recommend your store to friends and neighbors, further strengthening your position in the local market.

2. Offer-Same day delivery 

Retailers can offer same-day delivery to consumers and compete with the speed and convenience of quick commerce platforms. By following this model, you can build trust with customers. 

Retailers can book orders on call or mobile apps and offer free delivery services to customers for orders above a nominal price. It encourages customers to shop locally.

what is quick commerce

This strategy meets the expectations set by online platforms but also emphasizes the benefits of supporting your local businesses

3. Offer products in a competitive market

Shopkeepers can attract customers by pricing their products at competitive prices with quick commerce products. You analyze the market trend and adjust prices accordingly, attracting customers while maintaining profits. 

If you own a bakery shop, you could offer freshly baked breads and cakes at prices comparable to those delivered by Swiggy or Zomato. This market positioning appeals to consumers looking for quality products at reasonable prices. Already the quick commmerce platforms are growing rapidly. If retailers like Kirana stores do not act on time, it will be too late for them to compete with these giants. 

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(Source: Economic Times)

By offering competitive pricing, you can position your business as a viable alternative to quick commerce platforms, tempting customers to choose local options for their shopping needs.

4. Offer freebies and discounts on special days

One effective strategy for local shops and retail stores to increase sales is to offer freebies and discounts on special occasions and festivals. 

For instance, a stationery store can send alerts to all their customers of offers and discounts on the occasion of Teacher’s Day or during the school opening season. However, for creating these offers and sending them to customers, stationery retailers will need integrated POS software for stationery stores that have these features. 

Your attractive deals and freebies can create a buzz around your store, attracting more local customers. These special offers drive immediate sales but also help build customer loyalty and increase brand awareness. 

5. Simplify return process

A great deal of the success of ecommerce came from their easy return process. Sometimes, customers are not satisfied with your product. They may return the product. For a great customer experience, it is essential to have the returns process as painless as possible.

You can offer free delivery for product returns to compete with larger quick commerce firms. 

Consumers can automate this process through your custom e-store. How? Build a custom e-store where you can sell online along with your physical store. Customers can add the item to return on your e-store. 

Retailers can update their inventory for an online exchange or return by adopting the best practices for managing their returns and exchanges

You will not lose customers and keep retaining them for future shopping.

6. Focus on quality products

The quality of the product offered by a retail business is its key differentiator. Instead of competing with quick commerce platforms on quantity, you can focus on high-quality products according to the needs and interests of customers.

For example, a boutique retailer can offer the best quality products and rare-to-find fashion apparel, providing customers with a unique experience. 

7. Improve customer loyalty

Retailers can focus on improving customer support by offering personalized assistance. For instance, a gift item shop can offer personalized gift recommendations based on the interests and preferences of customers. The online platforms cannot match such services. A toy store can organize interactive play sessions for children to test and select toys. 

Such personalized experiences not only enhance customer satisfaction but also foster a sense of loyalty, encouraging customers to return for future purchases.

vasyerp CRM

8. Launch your online store 

Local shopkeepers and retail store owners can launch their online stores. It allows you to reach a wider audience beyond your immediate neighborhood and get a chance to enter into the growing trend of online shopping.

You can use omnichannel ecommerce software to create your own custom online store.

The online store comprises online inventory management, integrated accounting, and digital payments. It completes the purchasing cycle of the product by delivering the product to the customer’s home. 

online store by vasyerp

9. Integrate with online e-commerce platforms

Retail stores and small business owners can integrate with online e-commerce marketplaces like Shopify and WooCommerce. By listing your products on popular e-commerce platforms, you can tap into the platform’s existing customer base and benefit from its marketing efforts. It can expand your business online and boost sales, especially during peak shopping seasons or promotional events. 

online ecommerce platform

10. Keep up-to-date with trends

In this evolving era of e-commerce and Quick commerce, small shopkeepers should stay updated with the latest trends and technology. It includes understanding consumer behavior, emerging technologies, and evolving market dynamics. It helps you adopt business strategies aligning with changing customer expectations. For instance, you can leverage social media platforms for marketing, such as Facebook and Instagram marketing. 

11. Register for the Google My Business page

Registering for a Google My Business page and optimizing it for online search is an effective way for retail outlets and small companies to increase their online presence. 

By declaring your business on Google My Business, you can enter important information such as your address, phone number, website, and working hours, making it easier for customers to locate you using Google Search and Maps. 

You may also improve your business page with relevant keywords and images to appear higher in local search results, improving the likelihood of getting local clients. You can create your Google My Business Profile page by following the step-by-step process to create a GMB profile

Bottomline

PWC predicts in its research titled: Future of India The Winning Leap that organized retail which had a market share of 8% in 2014 is set to reach 50% by 2034. Thanks to many digital developments, these figures give hope that retail stores now compete on a level playing field.

A local retail store, empowered by digital resources like easy catalog purchasing, online solutions, POS technology, online payment gateways, and digital discovery, offers a sense of convenience for consumers. By leveraging these tools, retail stores can compete fiercely with large e-commerce and quick commerce companies. 

VasyERP Omni-commerce platform is a complete solution for retailers to go online and compete with Quick Commerce Platforms. It enables central management of orders and inventory for online and offline stores. This effective platform attracts customers seeking faster and last-minute deliveries. It reinforces your business’s commitment to customer satisfaction by providing quality service, setting you apart from competitors.

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