Courio delivery service

Abstract

The global same day delivery market size was valued at USD 4.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 20.3 from 2020 to 2027. The market is driven by increasing urbanization, rapid e-commerce adoption, and changing customer expectations towards delivery services. Moreover, the ongoing substitution of stationary retail sales by online sales through e-commerce platforms has led to a significant increase in B2C shipments. Thus, the market is expected to witness substantial growth over the forecast period due to the rise in shipments, coupled with consumer demand for faster delivery service. Long delivery time is one of the significant reasons owing to which customers shop in brick and mortar stores than on online platforms. However, same day delivery services offer products in less than 24 hours i.e., preferably within the same day of the order placement. Thus, it integrates the convenience of online retail shopping with the immediacy of physical retail stores. Moreover, ease of ordering through online platforms, coupled with reduced shipping time, is creating growth opportunities for the market. Additionally, the availability of same day delivery services is further expected to support e-commerce adoption among consumers. Thus, online retailers are expected to be benefit ted from the adoption of same day services as reduced delivery time of the product and higher convenience improves their position versus stationary retailers. Moreover, same day delivery services combine the convenience of online shopping with the immediate product availability of retail. The aforementioned benefits, coupled with the rising adoption of same day delivery services among e-commerce platforms, are anticipated to bolster the market growth over the forecast period. Keywords: B2C, e-commerce