What Is the Future of On-Demand Economy For Service Industries?
The Harvard Business Reports show that the on-demand economy brings >22.4 million consumers yearly, who contribute$57.6 billion on them. These on-demand services include food delivery, taxi booking, healthcare, grocery, home care services, and other local services.
49% of on-demand users are millennials, while 30% lies in the age group of 35 to 54. The future of on-demand economy according to the industry is increasing with time.
Uber and Airbnb, are the most significant success of this decade, which have brought significant changes in the consumers’ expectations. Presently, they expect immediate provisioning of goods and services. Smartphones have been the game turners, and the user-friendliness they have brought for people is amazing.
The New On-Demand Economy:
Today, people hire tutors, plumbers, laundry-man, stylists, and therapists right from their smartphones. Industry experts believe that there will be a great shift to the way sharing economy works.
Now, increasingly entrepreneurs realize the potential in diverse industries and consumers are enjoying advantages that on-demand economy brings. Although there may be various on-demand startups that striving to generate profit, their revenue streams seem to be growing.
The Arrival of New On-Demand Services Market:
Uber and Airbnb control and manage the on-demand market, but they are not the only two offer the services. More than a hundred similar on-demand service providers exist in the market today all around the globe. While technology has developed enough to enable on-demand app development services, the key is to eradicate problems that the buyers and sellers were facing before Uberization.
Now, most businesses are using mobile apps to facilitate a service that was impossible earlier in the digital era. They may not reach a billion-dollar appraisal like Airbnb; they will extend the on-demand industry.
On-Demand Services Will Become More Personalized:
Consumers suppose their demand to be fulfilled spontaneously and they have given up the thought of waiting. For startups that are entering in the on-demand economy, this is a great chance.
Even if you’re entering an identified sector inside the economy, you can still win the game with better management and quicker service using on-demand services, and you will be a real winner. The dilemma is a lot of businesses are struggling to find a new area to capture. Sooner or later, better management is all that is going to matter.
Impact of On-Demand Economy on Your Business:
The on-demand economy is here to stay as it is working behind a successful business strategy. You must utilize it before your competitors do. You can talk to a mobile app development company or reach out to industry experts.
Remember, all customers want flexibility, personalization, and responsiveness in a product or service. You must satisfy all these requirements to grow your on-demand business.
These three industries will greatly control the on-demand economy in the future:
1. On-Demand Grocery:
When a customer orders grocery from his favorite app, the request gets routed to a nearby delivery person, who buys it from a local departmental store. He pays the cashier, puts the grocery in the delivery van and delivers it at customer’s home. Employer charges a little price from both the store owner and the customer.
The on-demand economy for grocery revolves around local provisioning of goods and services against demands from users. Various on-demand grocery platforms let users buy anything, anytime they want from a nearby grocery store. Customers have to tell the delivery address and the list of items, the commands of grocery delivery via app deliver the products at their doorsteps.
2. On-Demand Jobs/ Freelancers:
Jobs are getting outsourced to freelancers, and part-timers like never before via on-demand platform. Whether it is technical or non-technical work, all sorts of work are outsourced by employers, who don’t want to hire employees on full-time for short projects which can be completed in a couple of weeks or months. This way they are saving their costs and getting the services of employees at less price. Employers looking for a freelancer can shortlist suitable candidates for short term or long term, and select the one after a video interview via an app.
3. On-Demand Home Services:
With our lives becoming busier than before, more and more people like to avail any service by sitting in support of one’s home. The future of on-demand economy according to the industry is increasing day by day. As more people are becoming internet savvy, people now want to get services online, whether it is payment of credit cards/bills, ordering for their home services or availing any other on-demand service.
So now you can order a makeup artist or call a plumber or electrician by just using on-demand services. It acts as a middleman between the customer and the service provider.
On-demand services are in high demand and will stay in the future. People no more desire to venture out of the home and travel long distances, looking for services/groceries. Likewise, they want to save on costs by not employing full-timers for short projects.
With the combination of mobile apps and various websites, you can order anything anywhere anytime, either via your smartphone or laptop. The internet facility has made the availability of products and services possible, offering unlimited choices and the best services.
We provide systems for on-demand services catering almost all the industries such as tutoring, beauty services, laundry, home services, and the list goes on. The features can be customized according to the business needs. If you want to get quality on-demand platform, contact us today.