Road,Ahead,2019,Hyperlocal,Onl business, insurance Road Ahead 2019: Hyperlocal Online Courier Service

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The on-demand economy has revolutionized everything – from online courier service to online grocery shopping. Since the uberization of the economy, the on-demand economy grew by 58% in 2017 (National Technology Readiness Survey (NTRS) by Rockbridge Associates). The on-demand economy has been burgeoning ever since its inception. And as per the experts, it is not a bubble that will burst but a trend that will keep growing in the coming years as well. The industry that will dominate the future is the hyperlocals. Hyperlocal in the past As per Wikipedia, “Hyperlocal is information oriented around a well-defined community with its primary focus directed toward the concerns of the population in that community.” In layman terms, it means catering to a specific audience living in a small area and meeting their needs locally. Time and geography are of the essence here. Back in the old days, hyperlocal marketing existed of local hawkers, merchants, and ‘mom and pop’ shops in the locality. They catered to the needs of that locality. However, the needs of people living in one locality may be similar to people living in a different locality. But all had their local vendors. Then post-globalization and television and radios. The demography expanded and services were made available from different locations.  The timelines of the hyperlocal growth story: In the 19th century, the hyperlocal vendors would come to a common physical market place and sell their products and services. People would visit the local markets to buy things.In the 20th century, as people became aware of markets outside their locality, they started making purchases by traveling. Then in with the rise of large retail and department stores which started parcel services.  Hyperlocal in delivery and courier space 10 Years ago courier pickup from home was a dream. The deliveries took days and getting the same day delivery had a premium to be paid. In today’s scenario, on-demand spending is the largest in online marketplaces, with 16.3 million consumers spending almost $36 billion annually each month. (HBR: The On-Demand Economy Is Growing, and Not Just for the Young and Wealthy). The reason is the ease created by the eCommerce companies and the rising affordability of the middle-income group people. The same had led to pressure building on eCommerce companies to provide exceptional deliveries. People are willing to pay to get speedy deliveries. What started as a need for an instant cab later became a need for instant delivery for everything. And that’s only possible through hyperlocal marketing. Hyperlocal is the birth and growing stages of the on-demand economy A Hyperlocal on-demand service combines both hyperlocal dimensions of geography and time and the on-demand dimensions of convenience and speed. For example, if you wish to buy food from a local store but don’t want to get stuck in traffic or waste time in finding a parking spot, you can order through an app. You demand it and it is instantly provided to you from your local market. Similarly, if you wish to get anything picked from one place and get it delivered to another in the same city, hyperlocal delivery companies like Pidge provide option to book courier online. You can order online and they will provide courier pickup from home and get it delivered to your door. The scope of delivery and courier services in the earlier days was, if you had to send a courier, you would visit a courier company and they would send your courier where they serve. In an on-demand hyperlocal world, people request using an app and get their needs met through one day delivery. For example, hyperlocal on-demand delivery services in Delhi catering to the courier pick up and delivery needs of people living in Delhi through online services. The hyperlocal courier services process flow: Let’s take the same example of hyperlocal delivery services in Delhi. If you are a home entrepreneur residing in Gurgaon, selling perishable food items and wish to deliver your product to your customers in Delhi, you would need the following services:Facility to book courier onlineCourier pickup from homeFast courier serviceSame day courier serviceProfessional courier service To achieve the above any hyperlocal delivery and courier service works on the following key components:Geography- Proximity is the key here. The delivery and courier service must be located in the near vicinity of the customer. To cater to the needs your customers must be local. With the on-demand economy, people search “courier service near me”. To tap these customers, your company must appear on the list. Time- Time is of the essence. With the growing younger consumers who want things instantly and the need created by the on-demand economy to get products or services with the tap of a button, it is essential that to meet the needs hyperlocals must keep time as an important constraint while making their process flow. As per a report from McKinsey & Co, to avail same day delivery or instant delivery, almost 25% of consumers are willing to pay significant premiums. And because of the rising younger consumers, this share is expected to increase. The younger consumers (Millennials) are more inclined (just over 30%) to use same day courier services over regular delivery.Technology- The key role is played by technology. Your services must be supported with efficient and innovative technology. Most of the hyperlocals are app-based. The future of hyperlocals depends upon how they work on technology providing the most effective online courier service to leverage the growing digitization of India.Convenience: 10 years ago, to book a courier you would go to a courier office. To get a delivery you would either travel yourself or send your driver/office boy. Today’s hyperlocals let you do it from the convenience of your home or workplace. It’s the ease of being able to request that the hyperlocals must cash upon.   Hyperlocal in the future of the on-demand economy Across 16 industries, more than 280 companies now provide on-demand goods and services. In 2014 that was 76 companies in 6 industries. The future looks bright for the on-demand economy. (According to crowd companies) More people are spending every year in the on-demand economy. Companies like Pidge combine technology with innovation and provide app-based solutions that take delivery services to another level of customer satisfaction. The future is in the ability of these on-demand companies to be able to re-invent their supply chains. But for the hyperlocal on-demand courier and delivery services, they can provide instant services by exceeding customer expectations through exceptional experience.