THE IMPACT OF AN ON-DEMAND ECONOMY
The on-demand economy has affected everyone. It is like tap a button and get the world, which is being promised by emerging on demand platforms in different verticals nowadays. Demand that’s aggregated online is serviced offline right away or in a scheduled way. This wide concept finds applications in various industries in slightly different forms.
As the competition for skilled software developers rises, the consumerization impact of IT is also being felt in the software realm with the advent of a citizen developer.
TOP INDUSTRIES DISRUPTED BY THE ON-DEMAND TREND
The following are some of the top industries that are being disrupted by the on-demand wave and how to make millions or even billions of dollars with one’s own mobile based platform in one of them.
FOOD INDUSTRY
The food industry has been considered an evergreen one. Door-to-door delivery has rapidly become popular with Indian consumers. There are three major steps of tackling food delivery as a business. This includes searching/ordering, cooking and delivery. In the past, one has to go to a store to purchase groceries. Cooked meals were served in restaurants without delivery option. These traditional models have been completely disrupted by the on demand economy. Now, there are platforms that allow people to order groceries through the web and delivered at their doorstep. Furthermore, today there is no need to dress up and drive to a restaurant for meals since anyone could have their favorite meals delivered to them with just a phone tap. The food environment has come a long way when it comes to technology.
GROUND TRANSPORTATION
One of the first to be disrupted by an on-demand economy is the ground transportation industry. The technology driven business model of Uber has turned into a $40 billion business in just years, transporting people by the millions from Point A to Point B while still claiming that it is not a logistic firm but a technology platform. Taxis or cabs have completely changed to an on demand model. A lot of the existing taxi companies launched their own applications, which make it easy for customers to book a cab. Nonetheless, other ground transportation businesses haven’t been tapped into yet. Aside from cabs, platforms that are technology driven made it possible for people to rent their own cars rented hourly. Furthermore, carpooling platforms enable people to travel together, which saves fuel. These platforms caused heavy funding from venture capitalists for added growth.
BEAUTY
In the past, people visited parlors and salons to pamper themselves. However, with hectic schedules and not enough time, the beauty industry is changing the business pattern to serve customers whenever and wherever. From booking appointments in salons, to hiring an in-home stylist, technology has allowed the beauty service industry to serve the clientele at their doorstep. Some models which could be taped into the industry include,
- On-demand on-site services
- Freelance stylists and help customers book the stylist of their choice
- Hire stylists to serve clients at their door.
- On-demand in-store reservations.
The on-demand platforms in the field of beauty have not only helped customers with quality services at the convenience of their homes but have also helped parlors and salons grow their customer base. The platforms that provide beauty services at the doorstep in reasonable prices would enjoy more consumer popularity in the future as they offer savings on effort and time to a growing price sensitive demography.
B2B SERVICES
Business-to-business enable a business to concentrate on its core business activities while outsourcing background aspects on themselves to make certain of smooth operations. B2B organizations help businesses in running lean while making certain they have access to ancillary services all the time with no need to hire permanent employees for these tasks. They provide help for stuff such as hiring staff members, organizing logistics and corporate events and other professional services. The on-demand startups have entirely removed fragmented middlemen services from the picture.
HEALTHCARE
The healthcare industry is a worldwide trillion dollar industry and becoming one of the most favorite destinations for business people who want to create an empire on the on-demand environment. Earlier, people had to go to a doctor when they are sick and line up for a chance to see the doctor. On-demand applications in the industry now have reinvented the manner that patients interact with doctors and have made it possible for them to order prescriptions to be delivered at their doorstep.
Some common on-demand business models in the medical field include,
- Doctor visits a patient at his location
- Patient consults a doctor via audio
- On-demand ambulance service
- On-demand medicines
- On-demand nurse
Needless to say, the on-demand economy has affected everyone. It is the same as a button tap and one gets everything as promised by the emerging on demand patforms in various industries.