Hyperlocal Services Market
In recent times, internet based hyperlocal service business such as GrubHub, Just-Eat and Delivery Hero, have outperformed other firms in attracting investment from venture capital and private equity investments firms for integrating convenience goods and services such as grocery, tailoring or fitness services and other on-demand services. The market has witnessed increased interest of investors in the hyperlocal e-commerce segment primarily due to proposed value propositions of online business model which have been able to improve User experience( UX) and User interface( UI) and reduce consumer pain points caused from traditional business models in this sector.
Growing interest of industry giants such as Amazon Inc. and Google Inc. in the online hyperlocal and home services market is expected to further intensify the competition which in turn would propel the possibility of market consolidation in the near future.
Market Dynamics:
With demographic diversity, vast consumer base, and growing digitization, emerging economies are showing promising growth opportunities for e-commerce players. Amongst the various industry verticals that are pushing for the supreme position in the growing e-commerce segment, online hyperlocal services providers have emerged as one of the strongest contenders for success.
Major factors driving the hyperlocal services market is the shopping nuances of the consumers. While market witnesses growth in the number of online consumers, majority of the consumers in the emerging regions are mainly driven by‘ touch and feel factor’( in case of grocery) and trust offered by
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