Quick Commerce refers to e-commerce in a new, faster form. It combines the features of legacy e-commerce with innovations in last-mile delivery. It primarily supports food delivery but has expanded to other categories particularly for grocery delivery, medicines, gifts, and apparel, etc. The speed of delivery is the main differentiator, delivery is in minutes not days, usually 30 minutes or less. Quick commerce is also referred to as ‘Q-commerce’ or ‘on-demand delivery’.
Geofencing is the use of location technology to create a virtual geographic boundary. A geofence is a virtual perimeter for a real-world geographic area, which can be dynamically generated (as in a radius around a point location) or match a predefined set of boundaries (such as school zones or neighborhoods). It involves a location-aware device of a location-based service (LBS) user entering or exiting a geo-fence. This activity could trigger an alert to the device’s user as well as messaging to the geo-fence operator. This information, which could contain the location of the device, could be sent to a mobile telephone or an email account, for example.
Location-Based Service is general term denoting software services which use geographic data and information to provide services or information to users. LBS can be used in a variety of contexts, such as health, indoor object search, entertainment, work, personal life, etc. Commonly used examples of location based services include navigation software, social networking services, location-based advertising, and tracking systems. LBS can also include mobile commerce when taking the form of coupons or advertising directed at customers based on their current location.
Food and consumable products ordered using the internet via any devices, regardless of the method of payment or fulfillment. This channel includes Amazon and Peapod as well as the E-Commerce business generated by traditional brick & mortar retailers, e.g., Coborns (Coborns Delivers) and ShopRite (ShopRite from Home and ShopRite Delivers). The other non-traditional retail segments above include their E-Commerce business.