The On-demand Business for Startups
The on-demand industry has taken giant leaps in the last few years and why shouldn’t it? Who doesn’t like an on-demand service according to their needs and wishes? Every sector from healthcare to transportation, from food to electricals to entertainment & media (online streaming services) has gone into on-demand services owing to greater use of mobile applications.
Let’s look at some of the statistics of on-demand services over the past few years.
According to Statista.com, U.S. consumers are spending $57.6 billion in the on-demand economy to cater to 22.4 million users annually.
What in the world has taken a bigger boom than the online video streaming service? Just have a look at those statistics and you’ll know.
What is an On-demand business model?
Pretty much everything in the name. Providing customers with services according to their terms. In the age when people want immediate access to everything, the on-demand service comes to the fore. It aims to provide services in the shortest possible time and is entirely focused on the speed with which it can provide solutions.
You might want to have a look at some of the different models of on-demand services that are currently available and have taken the on-demand industry by storm.
Arguably one of the most significant and booming on-demand services, the food on-demand platform has raged the mobile app industry as well. People have started putting just delivery services and have made the most of the time lost due to crises and other factors. People want everything at the comfort of their homes and they are getting it!
2. SERVICE ON-DEMAND
Again, a model that has taken this industry by storm is the service on-demand model. What is there that’s not possible at the comfort of your homes? You have professional cleaning services to electricians to plumbers to getting your hair cut, you name it and you have it at your home.
The boom has even more come into place since the pandemic began and changed the way lives are lived. The on-demand service model has given individuals an opportunity to save time and money (spent on travelling to the place of service) and that’s a good enough reason for this model to be where it is now.
3. TRANSPORTATION ON-DEMAND
A lot of people still don’t have access to their own cars and personal vehicles but need to travel to airports or stations for work purposes. The on-demand transportation services have made the task utmost easy and super reliable with the growing structure of ride-hailing platforms such OLA & Uber.
People are just a click away to booking transportation and making their way to their destinations.
Why has the On-Demand industry grown so rapidly?
Many factors contribute to the success of on-demand models including UI, accessibility, reliability, promotions, up-to-date trends and more. We might look at some of those here:-
A simple to use UI is what everyone looks at and wants. The on-demand service models have done just that and made life easier for people. You have all the options in front of you to choose from and a mere click of a button makes the task done & dusted!
Building a trust value always comes in handy and that is exactly what customers look for. Booking on-demand services need the reliability factor and the trust factor which most of the sectors have been able to provide thus making this a very successful model.
3. UP-TO-DATE TRENDS
Another fantastic feature which most of the customers love is the updating trends and promotions it keeps on rolling out. Everyone wants to know the latest availability of different services and how they can use it to their advantage.
The on-demand service model has certainly made the life of customers way too easy. People have made the most of what they have got and have loved every minute of using these on-demand services. The above statistics show how this market is bound to grow even more with years to come. The factors that have given this industry so much boom are also something that customers most look forward to.
Also read : The future of Digital Marketing