23
May
2017

The On-Demand Economy: Keeping Up with the Instant Gratification Market

The modern consumer likes things done quickly – fast food and high-speed broadband are two such examples. The modern consumer also leans increasingly towards online shopping, even though they would have quicker access to a product if they bought it in a physical store and promptly took it home.

This may not be the case for much longer, though. The number of online stores promising same-day delivery is ever rising, with many customers now expecting to be able to receive a product within hours of purchasing it online. A company which comes good on its promise of same-day delivery stands to automatically gain an edge over 85% of the competition for this strength alone. In the two years from 2014 to 2016, the number of companies providing on-demand goods and services quadrupled, with a threefold increase in the number of industries catering to this service.

As the on-demand economy is still rather fledgling, though, several key challenges abound. Companies must ensure that they have sufficient warehouses in which to store products so that same-day delivery can be fulfilled, while dedicating staff towards satisfying on-demand consumers could be a case of robbing Peter to pay Paul if there isn’t enough staff left over to cater for in-store customers. It can also be difficult for companies to run an on-demand service effectively, unless they implement order minimums that will work within their margins.

For further reading on same-day delivery and the on-demand economy, check out this infographic from 2Flow  .

The On-Demand Economy: Keeping Up with the Instant Gratification Market 1

 

 

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