New Delhi, April 9 E-commerce firm Amazon is planning to expand its quick commerce vertical, Amazon Now, in the US and Europe, following its success in India, according to a company document.
The company launched Amazon Now last year in India and the UAE.
"We have been working on Amazon Now, which offers ultra-fast delivery of thousands of items within 20 minutes. Customers love this service. In India, where we have more than 360 micro-fulfillment centers (and growing rapidly), Amazon Now orders are increasing by 25 per cent month-over-month, with Prime members tripling their shopping frequency once they start using it. We are also starting to expand Amazon Now in the US and Europe," the document said.
According to a recent report by GrantThornton, more than 70 per cent of consumers prefer using quick commerce platforms even without discounts. A report from market research firm Redseer expects quick commerce channels to scale up to over USD 25 billion in gross merchandise value from USD 4 billion at present in India.
It is also growing nearly 11 times faster than other e-commerce formats, as per Redseer.