Hyperlocal Marketplace Business Model - The Rise Of Direct-to-Consumer.

Hyperlocal Marketplace Business Model – The Rise Of Direct-to-Consumer.

3235 Views | 7 min | August 30, 2021
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Ever since on demand market and the hyperlocal marketplace has been discovered, it has been in the buzz. Everyone is eager to know what it is all about and how the model be implemented in their business. Don’t worry, this blog will help you know everything about the hyperlocal marketplace.

The reason behind this hype is pretty clear. The hyperlocal delivery model has proven to offer a lot of efficiency and convenience to both the parties – sellers and buyers. Delivering products in a short time is the key to customer satisfaction. This is what is making the hyperlocal marketplace model popular.

This model is known to bring a lot of opportunities to small business owners. Hence, if own a business, read further and implement this model to increase your business growth and profitability.

What Is A Hyperlocal Marketplace And Why Is It Blooming In The Market?

The true meaning of a hyperlocal marketplace business is being local in your industry. It can also be described as an online business using the services of offline stores to deliver the needs of the customers on demand. This will all be done through an online platform. 

The popular industries of the market like food, laundry, grocery, etc. are some of the examples of businesses that follow the hyperlocal marketplace business model. 

Features like geo-mapping in the business model have paved a way for businesses to expand post-pandemic. This is also a reason why this marketplace is flourishing. It is not news that understanding, proximity and belief leads to customer satisfaction.

The hyperlocal business model brings sellers close to the customers. It plays on the customer’s expectation of being properly serviced. They receive their requested product/service in a matter of hours. Customer satisfaction may be obtained with little effort and expense. 

Sellers/merchants, on the other hand, find it quite simple to cater to and deliver a geographically close client. Merchants understand their clients’ aesthetics and may tailor their business strategies appropriately. Costs are reduced significantly at the end of both the aggregator and the merchant, resulting in a win-win approach for both.

What Is A D2C Model?

D2C or Direct-to-consumers is a marketing technique that can be defined as selling products directly to the customers without the involvement of any third party, wholesalers, or others. Many businesses owners are moving their business D2C because of the following reasons:

  • Approximately USD 600 billion is spent by millennial shoppers in the US. 
  • The number of people purchasing from a D2C brand is most likely to grow to 81%.
  • 87% of the companies can relate D2C channels with their customers.

Any vendor or manufacturer who wants to sell his products directly to their consumers can set up an online platform under a direct-to-consumer (D2C) paradigm. They may advertise it on a variety of social media channels, cutting out the middlemen.

What Are The Advantages Of Moving To D2C?

Selling your products will generate higher revenues and increase customer traction. But these are not the only benefits. Some other notable advantages of moving your business D2C are mentioned below:

benefits of hyperlocal marketplace

Gain Knowledge About Customers

With the help of a hyperlocal marketplace business model, your brand will be able to interact with your customers at every step of the sales funnel. Furthermore, businesses may successfully communicate long after the product has been sold. As a result, businesses may have a deeper understanding of their target market.

Expand Market Reach

D2C allows companies to reduce risks by allowing them to launch a new innovative product on a smaller scale. DTC businesses may create a specific product, test it on a very narrow population, and then receive feedback. This allows major manufacturing companies to learn what their customers like and dislike about their products, allowing them to make the necessary changes when necessary.

Increased Reputation, Services & Business

D2C hyperlocal companies may be transparent with their consumers while also maintaining their reputation, brand image, and product. Companies have total control over their brand from the moment a client initiates contact with them until the product is purchased.

Omnichannel eCommerce

Another advantage of selling directly to consumers is the possibility of multichannel delivery. Brands may utilise a headless commerce platform to create an online store. Customers will be able to explore and buy across various channels, as well as select from several delivery choices, as a consequence.

Why Should You Launch Your Hyperlocal Marketplace?

The marketplace that caters to the demand of consumers in a small geographic area is known as a hyperlocal marketplace. Saying no to moving hyperlocal will be a big mistake in 2021-22. This model has proven to be efficient, convenient and cost-effective. The geo-location feature, on-time supply, safety, and convenience are all critical components in the success of the hyperlocal marketplace.

After the outbreak of Covid-19, everyone is facing difficulties in their business and lifestyle. The comfort that we used to have before, cannot be expected soon. The demand for food delivery, grocery delivery or any other service is increasing gradually. 

It is frequently used since it connects buyers with vendors who are nearby. It translates the customer’s desire to be well-served. They get their goods or service ordered within a few hours.

Satisfaction is obtained with little effort and money. Merchants, on the other hand, find it very easy to cater to and deliver to a consumer who lives nearby. Merchants are aware of the aesthetic preferences of their customers and may adjust their business models appropriately. Finally, both the aggregator and the merchant save money, making this a win-win situation for both.

As a result, a hyperlocal marketplace is a fantastic method to expand your reach inside a narrow geographical area. To make goods more available to your target demographic, you may collaborate with local store owners and small e-commerce firms

How To Build A Hyperlocal Marketplace For Your Business?

Recently, there has been a surge in the need for simplifying your digital with a strong platform that allows direct-to-consumer sales. So, instead of falling behind, create your D2C hyperlocal marketplace now and enter the game with your unique ideas to lead the industry transformation.

Apptunix will help your brand in reaching out to your customers with a more personalized approach. We offer multiple features like branch management, geofencing, location tracking, improving brand visibility, and many more. 

We can also help your business with a hyperlocal marketplace business model to make sure you target the right audience and deliver services to them at the right time. Let me tell you the benefits of getting a hyperlocal marketplace solution from Apptunix:

Enhanced Customer Service

To optimise the customer experience, Apptunixdelivers a mobile-friendly website as well as specialised Android and iOS applications for your marketplace. Bots and live chat are available 24 hours a day, seven days a week to help your suppliers.

Thanks to geofencing, you may track the end user’s location and offer their items accordingly. End users may search the marketplace using keywords, dates, and categories. They may sort the results by price, name, and rating.

You’ll also get access to a comprehensive rating and review system for keeping track of what buyers think about the product. With a choice of free themes, you can make your marketplace seem upscale and world-class.

Improved Operations

Using Apptunix’s merchant applications, your merchants will be able to rapidly fulfil orders, manage inventory, and update their store. Apptunix provides real-time tracking as well as the ability to regulate routes and timetables all in one place to ensure that the goods are delivered on time.

You can manage your meta-tags, viewable sitemap, and robots.txt files in a flash. We will monitor your website regularly to guarantee that there are no outages in the hosting. There will be no restrictions on the number of users, traffic, listings, or photos.

Improved Security

To make your marketplace a secure environment for end-users, Apptunix provides you with a marketplace where you may pick your merchants only by invitation. We will also offer you an SSL certificate to safeguard your data and that of your clients.

Domains That Are Flourishing With A Hyperlocal Marketplace Model

The on demand near me hyperlocal marketplace industry is dominated by five primary industries. The marketplace’s business is expanding, and many sectors are making use of the hyperlocal marketplace.

domains of hyperlocal marketplace

Delivery of Consumer Goods

Fast-moving consumer goods, often known as consumer packaged goods, are high-demand items that sell rapidly. Top hyperlocal marketplace firms include groceries, packaged items, dairy products, medications, and so on.

Amazon Grocery is a famous grocery delivery service in India. It is growing in popularity, and individuals in cities are choosing for it. BigBasket and Grofers are the top leaders in India’s grocery sector. Following COVID-19, delivery applications have grown increasingly popular, and people are eager to take advantage of food and groceries home delivery services to escape crowds. 

Local sellers have a wonderful opportunity to shine in the shadows right now.

Appointment Booking

The transportation business is propelling the on-demand industry. Cab services such as Ola and Uber are the market leaders. They provide meal delivery, ridesharing, and other services. 

Other Hyperlocal Marketplace booking firms include dinner reservations, movie ticket reservations, BookMyShow– movie ticket reservations, Dine Out– restaurant table reservations, and Dine Out even gives discounts and promotions to consumers.

MakeMyTrip is another famous website for hotel bookings, purchasing flight tickets, or planning a vacation, and there are many more excellent companies in the industry that is thriving.

Hospitality Services

Local company owners that offer on-demand services are excited about the prospect of developing a hyperlocal marketplace. Housekeeping, beauty salons, Spa & Massage, and dog care services are becoming increasingly popular. Urban Clap is a hyperlocal marketplace for on-demand services.

Other companies for the hyperlocal marketplace include appliance repair, electricians, mobile services, technicians, carpenters, house cleaning or pest control, packers and movers, and plumbers. Another popular app for on-demand delivery services is UrbanHopperz.

Health Services

Following the epidemic, the healthcare business is receiving far more attention than previously. After COVID-19, health care services, nurses, baby care, and old age health care must all be provided. Given the scarcity of hospital beds, the need for home health care services is growing.

Because developing nations are unable to offer the necessary amenities in hospitals, a home caregiver or nurse is the best alternative. In hyperlocal marketplace enterprises, the health care industry has a large reach.

Logistics

People usually go on to the hotel industry. Near-me hyperlocal on-demand services are constantly developing. It comprises logistics or concierge, which is becoming more popular in metropolitan areas. Such services are used by people to mail documents or lunch boxes.

Some of the popular startups providing on-demand concierge services include Dunzo, a mobile-based concierge services provider in India, Fetchr, which is popular in Dubai for booking delivery services, Alfred Club, which is based in the United States and provides an ‘Alfred’ to households to handle their weekly errands, and many more. 

Pidge is a company in Delhi NCR that provides 60-minute pick-up and quick delivery.

Conclusion

A hyperlocal delivery system may be done with anything, such as taxis, automobiles, bikes, or public transportation, and it can happen with anything, such as car service, grocery, food, and so on. Today, the majority of hyperlocal delivery methods are just in time. 

Building relationships with other merchants and delivery providers, targeting the proper audience, and developing a fantastic mobile app all take time. However, all of these factors will provide your company with the competitive advantage it requires.

Our primary goal at Apptunix is to provide efficient and innovative e-commerce solutions and online marketplace extensions so that your e-commerce experience is as seamless as possible. We can assist and support you with anything connected to e-commerce, whether you want to establish an online grocery shop, a food store, or a delivery app.

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