The on-demand economy will influence every industry.
There’s been a paradigm shift in how businesses operate, thanks largely to society’s expectation of instant gratification. Brands must deliver instant value to their customers not only to get ahead, but often to survive. Amazon Prime expanded the world of on-demand, offering same-day delivery on a vast array of products from grocery to content-streaming through annual memberships. Consumers have come to expect and, therefore, insist on access to products attainable by a touch of a button or a click of a mouse – propelling on-demand services to a CAGR of 52% over the next three years. 93 million Americans are expected to participate in this niche economy by 2022, forcing brands to prepare to keep up with this growing demand. In fact, more than half of all online businesses plan to offer same-day delivery in the next three to five years. What does this mean? A changing standard.
Brands that wish to remain relevant must find ways to adjust their ways of working to be able to meet customer demands instantly.