Did you know that there’s a sector that is growing in numbers even amid the pandemic situation? With traditional business taking a toll among customers and struggling to yield even a little profit, there’s this sector that promises a sound ROI in these unforeseen circumstances. Yes, it is the on-demand sector that we’re talking about. The increased smartphone penetration, coupled with the comfort of availing anything anytime and anywhere, has led to the massive popularity of on-demand apps even in the pre-COVID-19 era.
What started with Uber gradually transcended boundaries to numerous other businesses as well. Nowadays, we have on-demand apps for almost every service, including but not limited to, food, grocery, entertainment, and healthcare. With smartphone users poised to reach a significant 3.5 billion mark by 2020, are on-demand apps becoming inevitable? People demand services but are hesitating to step out of their homes. Will on-demand apps step into the shoes of traditional businesses in the ‘new’ normal world?
With on-demand apps becoming an integral part of people’s lives, this blog discusses why launching an on-demand app is lucrative from an entrepreneurial perspective. Besides, we’ll also look into a single substitute for numerous on-demand apps – the multi-service apps. Let’s explore what the on-demand app market has in its store.
What COVID-19 meant to the on-demand app industry?
The Panic-buying saga
The announcement of lockdowns in numerous worldwide nations led to a mixed reception among the audience. The fear factor played a crucial role in the initial stages. Eventually, in this extensive panic-buying phase, retail stores and traditional businesses ran out of supplies.
The Hibernation phase
With infection rates and mortality count soaring tremendously, people hesitated to even step out of their homes. But they still need essentials like food, grocery, etc., for survival. It is at this phase on-demand delivery apps rose to the occasion. People shop essentials online and get them delivered at their doorsteps. The popularity and revenue of on-demand apps hit the ceiling in this phase.
The Reconstruction phase
With two quarters of 2020 swinging by, people were ready to adapt to the ‘new’ normal. On-demand apps play a crucial role in this phase, as well. People are beginning to reach their workplaces once again after six months of the WFH scenario. A majority of the population still prefer on-demand taxi apps over congested public transport. With COVID-19 making safety a top priority among people, only on-demand apps can promise safety in numerous aspects.
What are the on-demand app sectors that witnessed massive growth?
People who considered on-demand apps as a substitute have realized the convenience and accessibility of these apps. Several sectors experienced an increase in customer base and revenue. Let’s discuss some of the top sectors here,
On-demand grocery delivery
Exponential growth is just a word to this sector. With apps like Instacart, Walmart Grocery, etc., providing a seamless grocery shopping experience, grocery delivery apps have become inevitable in the post-COVID-19 world. Instacart hired 300,000 workers to meet customer delivery demands. It plans to hire 250,000 more to cope with the surging demands.
Telemedicine & Medicine delivery
Reaching a hospital jam-packed with COVID-19 wards has made people look out for alternatives. Remote consultations weren’t a hit in the pre-COVID-19 era. However, there’s a stern transformation in the way people leaned towards telemedicine apps. Apps like Practo witnessed a 500% surge in daily consultation rates. Besides, medicine delivery platforms like 1mg have also witnessed a massive demand in the last few months.
People are stranded in their homes for almost half a year now. With the most-anticipated rejuvenating time setting in, people grabbed the opportunity to binge-watch their favorite shows and movies with their friends and family. Within just a month of lockdown, Netflix added 16 million new sign-ups in their platforms. On-demand video streaming apps like Amazon Prime Video, Hulu, etc., have all witnessed a graph with a positive trajectory ever since the pandemic.
On-demand Alcohol delivery
With major pubs and liquor stores closed indefinitely until the situation becomes stable, people have turned towards alcohol delivery apps. Drizly, the most-popular on-demand alcohol delivery app, witnessed a 500% surge in order rates following the outbreak situation.
What is an all-in-one Super app?
Entrepreneurs are considering potential investments in the on-demand industry. Instead of investing in on-demand apps for individual sectors, there are Super apps that cater to numerous on-demand services with a single app.
Super apps are multi-service apps that can culminate in numerous on-demand services under one roof. This way, people needn’t switch between different apps for different services. The app acts as a central hub, helping users avail multiple services from a single place.
Will Multi-services apps take care of everything?
The answer to this question is YES. Apps like Gojek, Grab, etc., have already established themselves as successful Super apps. Both entrepreneurs and customers enjoy lucrative advantages with multi-service apps. Some of the enticing benefits include,
- One-stop-shop: Smartphone users needn’t load their phones with numerous apps, which ultimately leads to phone deterioration and less storage. By replacing numerous apps with a single app, services become more accessible. Besides, users get to have complete control over their innumerable orders effortlessly.
- Enhanced chances of success: The narrow success rate of on-demand apps is one of the potential reasons why entrepreneurs hesitate to invest in this medium. By providing numerous services with a single app, the chances of the platform’s success increase substantially. Even if a few services fail to create a reception, other services can maximize profits seamlessly.
- Revenue from various sources: It is a well-known fact that the on-demand industry promises a sound ROI. With numerous services to offer, the multi-services platform proliferates massively when it comes to revenue. With services like taxi, food, grocery, entertainment, social messaging, and many more under one roof, an entrepreneur has access to unrestricted revenue.
What are the features worth-considering in a Multi-services app?
If you wish to venture into the market right away, clone app solutions can come in handy. You can customize the trendsetting Gojek clone app comprehensively to meet your demands. Some of the features worth-considering in the application include,
- Real-time tracking
- Push notifications
- Instant booking or schedule for later
- VoIP-based call masking
- Multiple payment methods
- Refer and earn functionality
- Real-time analytics
- Earnings profile
- Service provider’s availability toggle
- Heat map
- Ratings and reviews
- God’s eye view
Although the COVID-19 pandemic inflicted innumerable damages, it has made people ask the right questions and have better clarity when it comes to availing services. As a blessing in disguise, the pandemic is propelling the need for on-demand services more than ever. Capitalize on the demanding situation and storm in this flourishing industry with an all-in-one Super app.