Getir has become the largest quick commerce company in Europe, after acquiring rival Gorillas. The $1.2 billion deal reveals a lot about the state of the quick commerce market.
“The sector is becoming increasingly crowded,” comments Northfork CEO and Co-founder Erik Wallin. “Shifting socioeconomic factors are also driving change. The cost-of-living crisis in Europe in particular is causing quick commerce companies to reevaluate, refine their models and consolidate, as we’ve seen with Getir and Gorillas.”
The changing marketplace means that it is now critical for quick commerce companies to identify points of differentiation beyond delivery speed. The market continues to present opportunities for growth, but speed alone will no longer cut it.
“I think we will see Getir – and other major players such as Flink and GoPuff – looking for new ways to engage with shoppers,” continues Wallin. “At the same time, they will be looking to drive conversions and grow basket sizes. Enabling their customers to shop by recipes will support all three of these aims at once.”
Northfork’s experience has shown that people who shop by recipes have a higher cart value. Quick commerce businesses that enable consumers to shop recipes in just a couple of clicks therefore have plenty to gain.
“Northfork is uniquely positioned to add convenience beyond delivery speed,” concludes CEO Erik Wallin. “We have the potential to influence buying habits at the point of inspiration.”
Capturing consumers’ interest with recipes and enabling them to act seamlessly on their inspiration can level up the grocery shopping experience. The customer benefits from a superior service while the quick commerce company benefits from enhanced engagement, increased conversion rates and larger basket sizes. Northfork has already proven that the model works with major grocery retailers around the world. Now, it’s time to show precisely what shopping by recipe can do for the quick commerce sector.