The
on-demand economy is mushrooming and has taken over the conventional
business models faster than we thought. The combination of these
services with apps has changed our lives in a better way. People no
longer need to stand in a queue and wave their hands to stop the bus,
Yellow Pages is no longer the only option to find the best
restaurants and service professionals nearby. We are just a tap away
from ordering groceries and our favorite meals at our doorsteps.
A report by
Harvard Business Review states, the on-demand industry is attracting
22.4 million customers annually, who spend $57.6 billion on them.
These services, besides taxi booking and food delivery, include
grocery, healthcare, home services, and other hyperlocal services,
etc.
49%
of consumers using on-demand services are adults, rest 30% fall in
the age group 35 to 55. This growth and activity will continue for
the coming years too. These stats and rapid growth of the on-demand
economy provide a clear picture that people are attracted by the
convenience, user experience, and other benefits they get from
on-demand businesses.
Before
going any further, let’s discuss What
Is an On-demand Business?
On-demand
businesses have revolutionized consumers’ behavior and are changing
the way we shop or transact. In other words, the on-demand economy is
an activity created by tech companies to fulfill users’ demands by
providing On Demand Business Model For Entrepreneurs_
goods and services in the minimal time.
On-demand
business is an ideal solution for the people who seek a convenient,
fast, and simple solution.
