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Saran Chatterjee

Saran Chatterjee, CEO, Housejoy.

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2018: A Bullish Future for Hyperlocal Industry

Hyperlocal startups have successfully sustained in the developed countries. However, the efficacy is subject to a few conditions in India, like slow acceptance rate in consumers, lack of awareness and a huge unorganized market.

Photo Credit : marketingland.com,

Flourishing technologies, increasing urbanization, consumer acceptance towards new services, improved logistics and large-scale public investments are remaking the business landscape today. In year 2017, the online home service industry has witnessed an exceptional growth of 100% and is expected to grow with a remarkable pace in year 2018 exceeding a INR 2,306 crore mark by 2020. 

A strong pillar of the growth of this industry has been its investors. According to a report by inc42, almost a billion dollars were invested in 400+ hyperlocal startups from 2011 to 2016, and year 2017 has been good too. This has helped the hyperlocal service providers strengthen their outreach. 

Hyperlocal startups have successfully sustained in the developed countries. However, the efficacy is subject to a few conditions in India, like slow acceptance rate in consumers, lack of awareness and a huge unorganized market.

With a focus on high quality and improved user interface, the hyperlocal industry will be taking a step closer towards standardizing its operations and identifying its core competency before moving towards another city and target segment. 

Automation in the operations will be an interesting aspect to look out for. Hence, the hiring trends will be led by technology front, followed by supply and supply management front. 

We can also expect a rich delivery experience, without offering unnecessary discounts or offers to its consumers such that they cannot help but repeatedly order from it. Also, new revenue model will be introduced like subscription model, membership programs and annual home maintenance programs.

Over all 2018 will be a cheerful one as users will continue to trust and adopt the platforms because of constant focus on the quality service and driving market awareness and activation for these services.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house


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