StoreHippo, an Indian eCommerce platform, has updated its offerings to help companies exploring the Q-commerce boom, a report in the Indian website The Print said Friday (Feb. 18).
StoreHippo is promoting a “comprehensive hyperlocal marketplace” and tools for dealer and vendor management, intended to help quick commerce brands.
Quick commerce, or Q-commerce, refers to the fast eCommerce delivery between 10 and 30 minutes.
That market, according to the report, is going to grow 10 to 15 times its current size in the next five years, and there will be around 26 million households involved.
StoreHippo will use its MACH, or microservices, API-first, cloud-native and headless, architecture, and experience with B2B and B2C models. StoreHippo allows users to build a quick commerce brand, offering various features and seamless integrations, and allowing for flexibility.
Rajiv Kumar Aggarwal, the founder and CEO, said the pandemic’s digitization of grocery shopping had made the field ripe for innovations.
“While the initial rush was about safety and ease of shopping, now the customers are looking forward to faster and more efficient business models that ensure quick deliveries of micro orders. Q-commerce or quick commerce was born out of this very need,” he said.
Read more: Deep Dive: How Automation Can Help Manufacturing Firms Meet B2B Buyers’ Payment Expectations
PYMNTS wrote that digital shopping has been expanding beyond the B2C world, including more companies going online to begin sales relations with new vendors.
One factor behind that is that many B2B purchasers are used to making seamless transactions digitally in their own personal lives.
A study from 2020 found that over 40% of millennial B2B buyers have a say in every step of the purchasing process — and as they become more entrenched and seek out new vendors or business partners, the digital world is coming along for the ride, so to speak.
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