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Barry Clogan, Chief Product Officer at Wynshop and an old friend from his time at MyWebGrocer, has a LinkedIn article - which has been reprinted on the Forbes website - with the provocative title, "From Boom To Bust In Rapid Time: What’s Next For Quick Commerce?"

Here's an excerpt:

"Over the past two years, billions of dollars have been invested worldwide in rapid delivery or quick commerce startups like Gopuff, Gorillas and Zapp. With robust global economic performance and an explosion in online grocery sales, the quick commerce segment seemed like a great place to double down.

"However, it isn’t just food deliveries that are moving in rapid time. Just as quickly as the quick commerce area boomed, we are now seeing signs of a bust. Gopuff, Gorillas, Jiffy, Getir, Zapp and Buyk have all announced closures, shifts in strategy or significant layoffs. Meanwhile, online grocery leader Instacart took a 40% haircut this year on its previous valuation of $39 billion and is slowing down hiring ahead of its anticipated IPO. Likewise, shares of DoorDash barely stand at a third of their 2021 high at the time of this writing, foreboding a potentially chilly reception to Instacart’s IPO.

"As the era of easy money and hyper-growth draws abruptly to a close, many are beginning to ask, 'Was the rush into quick commerce merely the latest instance of irrational exuberance?'"

Spoiler alert:  The answer is yes, but with a caveat … which is that "market expectations have been set, and there’s no going back. Failing the quick commerce startups’ ability to pull some major rabbits out of their collective hat, I expect grocers themselves to claw back direct sales and start filling the gaps between venture-fueled pipe-dreams and economic reality."

You can read the entire piece here.