Veppy.com, a Q-Commerce marketplace startup just announced their go live date in the last week of August, 2022. It strives for a highly personalised shopping experience by suggesting relevant products and recommending products based on the shopper’s liking.
Q-Commerce – sometimes used interchangeably with ‘on-demand delivery’ and ‘e-grocery’ – is e-commerce in a new, faster form. It combines the merits of traditional e-commerce with innovations in last-mile delivery. It is one of the fastest-growing business in the world. Driven by the changing consumer behavior dominated by last-minute shopping trend, the Q-Commerce market in the Middle East and North Africa (MENA) region is expected to grow from US$9 billion in 2020 to US$20 billion by 2024, according to Statista.com, a global market intelligence provider. Globally, the Q-Commerce market for food and grocery delivery is expected to grow to $72 billion by 2025, according to a report by Forbes magazine.
An analysis by Dubai Chamber of Commerce and Industry revealed during the Gulfood Breakfast Briefing event at Gulfood 2021 that as per Euromonitor’s data, online sales within the UAE’s food and beverage market surged 255% year-over-year in 2020 to reach $412 million. The analysis predicted the value of online food and beverage sales in the country to reach $619 million by 2025 and record a compound annual growth (CAGR) of 8.5% over the 2020-2025 period.
The latest estimates from Visa Middle East have forecasted the total MENA E-Commerce market size, including all categories, to be worth US$48.6 billion in 2022.
“Veppy.com offers a golden opportunity for small and medium enterprises (SMEs) as well as large suppliers to register with us and list their products within these specified categories so that consumers could purchase them through Veppy.com. It gives wholesalers, retailers and SMEs an opportunity to grow their business through us and also offers consumers a wider choice to shop online with value-added services,” said Moustafa Banbouk, Founder and Chairman of Veppy.com.
“One of our key differentiators in business will be the fastest possible delivery of products to consumer’s doorsteps within the shortest possible time. We are assembling transport and logistics resources to ensure fastest packing and delivery of the goods – that will change the entire E-Commerce business in the UAE and perhaps in the Middle East when we scale up our business,” he added.
Although the start-up will be catering to all suppliers, it will initially focus on the SME segment – the largest employer that represents more than 80 percent of the UAE economy. “Veppy.com will help lots of SMEs by giving them business opportunities through our marketplace. This way, it will help protect a large economic segment and employment of thousands of professionals, once our business picks up,” added Banbouk.
Q-Commerce is the fastest-growing online shopping or E-Commerce segment that delivers products to customers within the shortest possible delivery time ranging from 30 minutes to 3 hours depending on the distance of the deliveries. Due to the changing consumer behaviour and preference of last-minute purchase the potential for this segment is heightened.
“Our sellers are the heart and soul of our marketplace and we are committed to helping them thrive at every step of their journey. Timely delivery has been the biggest problem in the E-Commerce sector worldwide. The biggest consumer complaint in online shopping is the delay in delivery and product mix-up – often consumers receiving someone else’s products instead of his orders. Veppy.com’s unique selling points (USPs) include the fastest delivery and delivery of the right product to the right customer, which will help us grow,” said Imad Akhdar, Co-Founder and Chief Executive Officer of Veppy.com.
Wholesalers, suppliers and retailers of 14 categories of men’s products, women’s products, children’s products, personal care products, perfumes, toiletries, cosmetics can register their products and upload their stock keeping units (SKUs) online for Veppy.com to promote them for consumers’ attention.
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