What is On-Demand Economy
The On-demand economy satisfies customer demand by immediate access to goods and services through a digital marketplace. On-demand economy is a place where workers connect with service providers dedicated to the advancement of eCommerce based solutions which make life more efficient and simple.
The industries that use on-demand economy are eCommerce, Logistics, Transportation, Retail Services, Reservation Services, etc. In this era, people hire stylists, doctors, home care services from their smartphones. Entrepreneurs are realizing the potential of diverse industries and new on-demand services may rise soon.
How does the On-Demand Economy work
It works by taking any service like hiring stylists, doctors, home care services and others using the technical service and connects the consumers with service providers through a website or smartphone.
When the customer needs any service, then add it to the app and send a request to the corresponding service provider to get connected. When the service provider gets the request they will give the task to the consumer.
Benefits of On-Demand Economy
- Cost-effective: Most of the on-demand services offer free use of their applications.
- Control and operations: The service provider is one who controls the operations on a daily basis and App provider checks for all technological concerns.
- Easier to use: A fast and simple user experience raises the chances of user retention. The on-demand platform is easy to use for its users.
- Scalable: Each service provider is ready to join in on-demand platforms. Thus they can use this wide network with customers.
- Cybersecurity: Most of the consumers are willing to pay online. On-demand services look after to take care of the cybersecurity problems.
Features of On-Demand Economy
Notification is a useful feature for customers to let them know about the offers and services provided by your business. You can also use this marketing tool to drive more traffic to the website.
2. GPS Tracking
If your app provides online tracking feature to track the orders, it will be helpful for the customers to know about their order details.
3. Activity List
The activity list is a quick reference that helps your customers to find the things they have searched for and reminds the orders they have purchased. Here you can also add another feature called wishlist. That will help customers to add items into their wishlist for future purchases.
4. Payment Gateway
Your on-demand app will get more acceptable when it contains more payment options. A mobile payment facility plays an important role for customers to make their purchase more simpler.
5. Rating and Review
If your on-demand application has an option for ratings and reviews then it is a helpful factor for customers to check the quality and user experience of the app and thus your app will get used by many people.
6. Booking Cancellation
When the customer needs to cancel the order at any point, then you need to add an option to reschedule or cancel the booking.
Industries which get the best of the On-Demand app benefits
On-demand services are designed for customer satisfaction which is a great advantage of the transportation industry. It gives customers what they want when they need it. If the customer needs a ride, the on-demand platform will show the available ride near to them.
It connects the vehicle and customer and optimizes the real-time route for fast arrival. Uber is the king of on-demand service. The app helps to travel in comfortable and quick. The app enables users to find the cab near to them and to book it to reach the proper destination.
No one has enough time to cook or go to restaurants, people those who are running with a busy or tight schedule always depends on the online food delivery apps. The food and restaurant industry is one of the fast-growing industries of the on-demand economy. Swiggy, Zomato, UberEats have become the most popular food delivery services.
The on-demand food delivery app is the game-changer of restaurant owners. To build an on-demand online food delivery app is a big deal that helps people to get what they want when they want it anywhere and anytime.
The healthcare service app is an online growing business of the on-demand industry. The app allows users to get doctors on-demand or can book for medical tests which will help to avoid the never-ending queues. Investing in healthcare apps will produce a high profit in the future.
With the introduction of on-demand healthcare services, many of the issues get resolved. Now medicines are available for patients in their doorsteps within a few clicks. Moreover, the app allows to book appointments and to get medical reports.
The sectors that got drastic change due to the arrival of the on-demand economy are:
- Baby Sitting
- Mechanic, etc
These professional services have maximum potential and are beneficial to the end-users. This vertical gives plenty of options to the consumers. Through the on-demand service app, one can hire a professional for their household works.
This is a great employment opportunity for all professionals who are in this field without missing any of them. There are also other specialized services like programmers for software, designers and many more.
The eCommerce platform is born because of on-demand services. Unlike other verticals, the eCommerce platform had no space before the on-demand service. Later, the eCommerce platform played a key role in the success of the on-demand industry. The eCommerce platform born from the thought of, “ A place to sell and buy everything online”.
It can be anything and everything that you need for your daily life. Amazon is the most powerful platform among the on-demand platforms. It has everything from A to Z. Today, there are many eCommerce platforms available for different purposes.
Courier services and logistics companies and the other sector that witnessed the change after the arrival of the on-demand economy. The delivery platforms were facing many issues such as courier tracking, delivery tracking, booking process, etc, all these issues resolved by the birth of the on-demand economy. Today, anyone with an on-demand delivery app can monitor the driver and delivery time of their order.
Music is the most-searched thing on the internet today. By the arrival of iTunes, Apple changed the way of music. As we are living in the world of the internet which serves anything we need, It is easy for the on-demand music streaming services to become popular. Music apps had even changed the way people listen to music. Some of the on-demand music apps are Gaana, Spotify, Deezer, etc.
The on-demand apps are the future of traditional industries. It offers the customers whatever they need in a few clicks away. On-demand business models are changing the way people think, buy and sell.
So, if you looking to develop an on-demand service app you must consult a mobile app development company and check the cost of app development before moving any further.