Hyperlocal Services Market
Hyperlocal Services Market To Increase at Steady Growth Rate
Hyperlocal services are availed by consumers located within a well-defined geographic locations ( within the presence of service providers ). Hyperlocal services include online delivery of cooked food from restaurants , hotels and other food outlets , online delivery of grocery , online logistics services , and online home services such as plumbing , carpentry , laundry , electronic repairing , and requests for tutors .
The global hyperlocal service industry is currently in a state of transition . Emerging economies are witnessing rapid growth , while the developed economies are showing signs of value acceleration . The growth in the penetration of Internet connections and increasing adoption of smartphones across the emerging regions , in conjunction with better search options application support and improved payment gateways is driving the market for the hyperlocal services in these regions . Additionally , players who started earlier are holding up well against the new smaller and local entrants in the market . This has led to intense competitions among local and global players , resulting in heavy discount coupons for consumers on their first purchase which is in turn is driving the hyperlocal services market globally . Significant private venture capital investments to the early start-ups in this business has led to increased expenditure on marketing and promotional activities with an aim of acquiring customers , which would facilitate customer ’ s loyalty and in turn customer retention .
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