As a business operator, are you aware of the top 7 industries witnessing great change due to on-demand economy? If not, then it’s right time to know that. On-demand economy is gaining immense popularity in these days. In this business model, customers can get the desired services at any time on demand. He/she can place orders online and expect its delivery in the smallest possible time at his/her specified address. Convenience, Time Punctuality, high-quality products/services, Cost-efficiency, hassle-free payment mode, Nearby Availability of Services- are some of the main reasons for the rapidly growing popularity of On-demand services.
Just see the chart below how the on-demand E-economy has changed our lives and behaviour:
|Services||How individuals acquired it previously||On-demand apps/service providers that offer the same services 24*7/365 days||Benefits|
|Dining out||Individuals have to visit food outlets physically, place orders, wait for 15-30 minutes for the preparation of foodstuff.||Order for food online and get it delivered at your home.||Saving of time, energy, and money. Some food stores offer discounts to loyal customers. It helps them to save some bucks and order for more food products in the future.|
|Hair cutting services||Traditionally, you have to visit the barber’s shop and wait for your several hours for your turn.||Use salonist to book your appointment with the barber. It will help you to avail the hair cutting services comfortably by knowing the availability on a specific date and time.||Save your time and energy. Also, know the availability of hairdressers with a single click.|
|Taxi booking services||You have to visit the bus stand, talk to various vendors, and book a particular service provider.||Use Ola or Uber and book taxi easily 24*7.||Save your time, money, and energy by using this app.|
From the above-mentioned chart, it is clear that today’s young generation appreciate On-demand service providers. Here are some few facts that show the rapidly growing On-demand Economy:
On-demand Economy growth figures in the USA:
• 86.5 Million Americans use on-demand services,
• 45 Million Americans are on-demand service providers,
• 51% of all on-demand service providers in America have admitted that their fiscal improved a lot in recent years,
• 64% of all on-demand service providers expected further improvement in their revenues because of the strong demand for on-demand services,
• 70% of all on- demand workers are satisfied with their job,
• 81% of all individuals employed in the on-demand services have a plan to continue their jobs with the same company,
• 63% of people say they are happy to work with on-demand start-up companies and
• 46% of employees say that on-demand Economy offers flexible working hours.
There are many industries that are going through drastic changes due to increased demand for on-demand services. Just cast a look at top 7 of them. They are described here below:
1. B2B services :
The full form of B2B is-business-to-business. In this model of trade, companies sell products and services to other firms. It works as a supportive tool for bigger organizations. This helps them to get the desired success in the business.
With B2B services, an entrepreneur can concentrate his/her attention on core business activities. Less important works can be outsourced. In this way, companies get the work done without hiring some permanent employees.
The rapid emergence of the on-demand economy has threatened the existence of traditional B2B business players. Now, expert professionals and companies don’t wait for the customer’s call anymore. They just list their numbers on tailor-made platforms whereon customers look for them.
Just have a look at some successful players of B2B business in on-demand Economy:
|On-Demand B2B Economy service provides||Field||Benefits for customers|
|Spiffy||Cash wash service on Demand||Instant cash wash in exchange for an affordable price tag|
|Axiom||On-demand legal assistance||Instant solution to your complex and prolonged legal problems|
|Shyp||All-in-one shipping software and service||Instant transportation of goods. Very useful for E-commerce websites|
|Kapow||Real-time event booking service||Organize meetings and events easily with your clients and take the business to the next level.|
2. Healthcare :
The healthcare industry is a promising industry for all existing and emerging medical professionals. It is quickly becoming a favorite destination for anyone who wants to make a career in the on-demand economy. Previously, individuals have to call the doctor, know his/her availability and wait in a queue to receive the treatment. Several On-demand apps have drastically changed the way people communicate with doctors.
Now, you can book your appointment with favorite doctor 24*7/365 days. Orders for prescribed medicines can be placed online. You may get the ordered products at your doorstep within 2-3 business days by using On-demand services.
Some popular On-demand healthcare service providers are :
|On-demand healthcare service providers||How they help customers|
|DoctorOnDemand||It helps you to get doctor’s consultation and medical assistance at your house/place of residence.|
|TelaDoc||Instant communication with doctors via audio/video channels|
|goambee||On-demand Ambulance service|
So, traditional doctors and hospitals need to use these On-demand apps/services. This will assist them to stop the vulnerability of their existing patients and get new ones easily.
3. Logistics :
Individuals move from one place to another in search of a new job, pursue higher studies, for trade, etc. In this process, they have to transfer all household commodities to their new premises. All this can easily be done by employing an On-demand logistic management service. Companies, traders, and import/ export merchants use such solutions to move goods to and fro.
On-demand logistic management also ensures the maximum use of the vehicle. The whole logistic is divided in a planned manner for a long transportation. It guarantees that the client gets the stuff at the right time. If you hire a good service provider, the entire logistics operation becomes fast and smooth. It satisfies your clients up to 100% and skyrocket your business.
Some On‑demand logistics service providers:
4. Website/App building services :
In today’s tech-savvy and modern world, a well-designed website/app has become an unavoidable necessity to all entrepreneurs. The traditional way of creating websites and apps takes a lot of time and energy. As customers want the speedy delivery of their web projects, companies have now started to provide their website/app development services on demand. It helps them to grab projects and meet the rapidly growing expectations of clients.
Thousands of service providers are available in the market. All of them boast about their services. But, only a few of them have adopted themselves as per the latest trends of on-demand Economy.
If you are looking for an ideal company that could offer you On-demand website/app development services, it’s none other than Stellen Infotech.
The company has an in-house infrastructure, a team of experienced and talented professionals, project managers and an excellent project management team. You can get high-quality, feature-rich, and professional on-demand website/app with fast turnaround time. The USP of this IT company is that it provides all types of web/app development services at affordable price tags.
5. Ground Transportation :
The rapid development of the on-demand economy has influenced the ground transportation industry a lot. Today, you can easily book a cab and travel around a city. This business model has helped Uber to earn around $40 Billion within a few years only.
These days, people prefer cabs that are available on demand. So, several taxi companies have gone online with their own apps. It helps individuals to hire cars on an hourly basis and engage in carpooling actives to save fuel.
Some popular On-demand apps for ground transportation:
|Uber||Cabs on demand|
Ground transportation business will touch new heights in coming days. It is because a large number of people are using On-demand apps for booking ground transportation services. So, conventional taxi companies need to change their business model as soon as possible if they want to stay in the competition.
6. Beauty :
Previously, individuals had to visit salons to get beauty services. Now, the beauty industry is shifting its business online. It has enabled customers to hire a hair stylist at any time and from any location. You can use a salon booking app to fix your encounter with the barber and avail his services easily. Some excellent On-demandbeauty services are:
|Glam||Provides beauty On-demand service|
|Shrivra||It allows you to book your appointment with hairstylist.|
|StyleBee||On-demand delivery on salon services|
|Miniluxe||Use it to hire stylists and meet your client’s needs.|
These On-demand platforms have helped both customers and service providers. Needy individuals can get quality beauty services 24*7 at their place of residence. Service providers can manage their customer base in an easy way and handle the huge flow of business. Even freelance stylists can also boost their business volume using these On-demand beauty apps.
7. Food :
The food industry is considered as an evergreen industry. You can easily understand it from the above-displayed chart. These days, individuals like doorstep food delivery in the least possible time. As a business, food delivery involves 3 main steps-
A. Searching and ordering for a particular food item,
B. Cooking and
A few years ago, people had to visit stores to purchase food items. Cooked meals were available in hotels/restaurants with no home delivery facility. Due to the on-demand Economy, traditional food business has disturbed a lot.
These days, people use On-demand apps to order food online and receive its delivery at the specified address in just 15-30 minutes. Now, no more visits to restaurants for having a meal. Just make a call to the provider or place order online using On-demand apps and get the desired foodstuff in an easy way. That’s it.
Some popular On-demand food vendors:
|On-demand food vendors||Services|
|Recipe and ingredients delivery||Blue Apron|
|A Platform to hire freelance chef||Munchery|
|On-demand in Store Reservations for get-together parties, seminars, meetings, etc.||OpenTable|
Final Words :
On-demand Economy is in full flow. It is affecting the roots of traditional business organizations and firms. These are the top 7 businesses that are witnessing drastic changes due to a sharp rise in On-demand economy. You can use on-demand apps and services to give a great push to your business and earn the maximum revenues every day.