In China’s fast-paced lifestyle, consumers are demanding more immediacy and convenience from their shopping experiences. With just a few taps on their phones, they want products delivered within the hour.
This growing trend has led to the rise of instant retail, a retail model where products are ordered online and delivered to consumers in as little as 30 minutes.
According to the 2023 Instant+ Retail Development Trend White Paper, the instant retail market is expected to grow at an annual compound rate of 25% between 2023 and 2030, reaching an estimated value of RMB 3.6 trillion by the end of the decade. This figure would represent approximately 6% of China’s total retail sales.
But what exactly is instant retail? At its core, it’s an extension of food delivery, with platforms like JD Seconds Delivery, Hema, Dingdong Maicai, and Meituan Flash Sale moving beyond just food to include categories such as fresh produce, digital gadgets, pharmaceuticals, and daily necessities...
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