According to an article by Street Fight, a research company dedicated to “the business of hyperlocal publishing, commerce, marketing, and technology,” the scope and reach of mobile commerce and on demand services is expanding across enterprises, and businesses would be well served to heed the trend. In order to thrive in this emerging economy, adapting to the demands this movement is vital.
As the combinations of work, leisure, family, time, and distance place greater pressures on consumers in every phase of life, local businesses that are able to deliver what is wanted when it is wanted are, in the words of Tanner Hackett of The On Demand Economy, “manufacturing time.” Companies such as Stitch Fix, Uber, Instacart, and Venmo have created business models that are reshaping the landscape by the minute as they build on the knowledge that there is money in time, and consumers will but it in a second when and wherever they can.
Given that mobile technology is expanding exponentially, and because the ability of local customers to find and summon anything and everything now rests in the palms of their hands, those businesses that take the initiative and bring the mountain to the consumer will find an eager and stable pool of clients time after time.
References:
Rich, Laura. “New York: The Original ‘On Demand’ Economy?”; Street Fight. May 18, 2015.
