'Quick commerce' or 'rapid delivery' grocery firms have been on the rise in retail over the past year, with operators such as Getir, Gopuff, Gorillas, Flink and Weezy seeking to shake up the existing market with the promise of near-immediate delivery services.
But are such developments a flash in the pan, related to the current COVID circumstances, or the start of a new chapter for grocery delivery? According to Barclays, while it is too early to make any definitive judgments, there are signs that the quick commerce market could have longevity.
'The willingness of VC investors to fund these businesses at high valuations – with Getir alone valued at approximately twice the market cap of M&S, for example – suggests that they envisage a valuable growth opportunity in the years ahead,' the bank said.
