The Hyperlocal market
The hyperlocal marketplace as the name suggests is a market that caters to the needs of a limited geographical area fulfilling most of the requirements of the local residents in the area. From the market, grocery delivery, ordering food, house care, personal care services, etc. are served efficiently in no time through e-platforms in the limited region-may be a cluster of a few colonies. It’s where traditional market weds technology. A simple mobile application with a catalog of all the local store items equipped with standard e-commerce features works wonders for such types of business models.
It has its unique niche — hands down have an advantage over e-commerce marketplaces in smaller cities where the latter is yet to make a mark. With wonderful symbiotic relations, it provides a great boost to the local market under threat from the e-commerce giants. The system creates pressure on retailers to raise their efficiency level and business standards. Hence, customers can expect a better quality of goods or services at competitive rates. It offers a plethora of benefits to both the customers and the retailers.
The concept is tad simple — commission for each order placed and delivered promptly. All it requires is business partners with the local/retail stores in the target area. Hired delivery boys do the job of pick and drop.
Though it takes time to build partnerships with other merchants and delivery agencies, target the right audience, change their habits of shopping from brick & mortar shops to smartphone app, and honing out the mobile app to the satisfaction of customers. But gradually things do fall in line and business prosper.
Whereas Ola cafe, OLA store, Pepper tap, Flipkart nearby are some failure stories; Uber, EATS, Zomato, BigBasket, Postmates, etc. are prominent successful ventures. The idea certainly has a lot of potentials and will gain much greater size in the Indian market in decades to come.
Contributed By- Siddhart Jangid, Content Writer @ Mitti Ke Rang
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