Shaping the Future of Retail: Balancing Quick Commerce and Traditional Stores

A Grant Thornton Bharat report highlights quick commerce as a preferred method for daily essentials, while physical stores dominate high-value purchases. Retailers face challenges like limited range and high prices but are adopting hybrid models, combining digital sophistication with physical presence to tackle evolving consumer demands and operational hurdles.

In the rapidly evolving landscape of retail, quick commerce has become the preferred choice for 85% of consumers purchasing daily essentials like food and groceries, according to a report by Grant Thornton Bharat. Meanwhile, traditional in-store shopping remains dominant for high-value items, with over 50% of buyers favoring physical stores for their tangible experiences and quality assurances.

The report reveals, however, that brick-and-mortar stores face notable challenges, with limited product variety cited by 38% of respondents, and pricing concerns highlighted by 37%. Retailers are increasingly adopting hybrid models, integrating digital and physical platforms to offer expanded selections, competitive pricing, and delivery services to enhance customer trust and satisfaction.

Furthermore, regulatory advancements such as the Data Protection Act 2023 are fostering a secure digital transaction environment. Despite operational strains like high warehouse and delivery costs, quick commerce must prioritize efficiency and trust. AI-driven data analytics and local partnerships are proposed solutions to streamline operations and meet the demands of India's dynamic retail market.

(With inputs from agencies.)