By Sachin Malik
Instant gratification! This is what defines Everything On-demand! You get what you want and instantly.Everything On-demand: How Far Is it Ready to Take You!
The phrase is an economic activity created by technology companies where services are provided to the user immediately, i.e. on-demand.
The tech-savvy and early adopters of technology are making use and soon, it will find place outside the technological mesh.
Everything On-Demand: How We Have Been Relying on This!
Our hunger for instant fulfillment knows no bounds. And, that seems most fitting when we are talking about everything on-demand. From playing and changing CDs on VCRs to enjoying Netflix while lying down in bed, we want things to click speedily and have cognitive ease. The consumers have embraced the real-time fulfillment of goods and services.
The Economy Seals it With a Yayy!
As per the Harvard Business Review, the on-demand economy lures more than 22.4 million customers every year and talking about the amount, the market size is $57.6 billion. Along with that, the online marketplace spending comes out to be $36 billion annually by around 16.3 million consumers every month. Apart from that, people spending on transportation like Uber and Lyft take the second rank with pride among 7.3 million monthly customers, who spend $5.6 billion annually.
What else could prove the dependence of the generation on such instant provision of all the services? Talking about it lasting more than the current scenario, it doesn’t seem to see a downfall in the economy graph any soon.
Companies That Top the Charts of On-Demand Economy
Uber! You all know about it and hence, the name needs no introduction. Most of us have it installed on our phones and no one is ready to wait for a bus or train or to spend time in waiting lines. We can get an Uber cab booked at different prices and modes which reaches our destinations without any hassle.
Freelancing! Who doesn’t love extra bucks to be earned? But, how about making it a career. You can sit home without a boss on your head and earn a lot of money. And to be precise, you can get as much as money you want to earn without anyone asking you to dress up or travel to work. Work and get paid.
Airbnb! Affordable places to live at for short durations is possible with Airbnb! Wait no more and respect your time.
These are just the names of a few, but there are a lot of online marketplaces where people get instant services without any hassle. And, looking at the revenue generated by them and the dependence of the population on such services it can be said that the services are here to stay and further improvise.
Increased Number of Entrepreneurs
When something starts providing moolah, it works and grows like fire in woods. Same is the case with Everything On-demand. Consumers want everything to be instant and without any hassles and the businesses are listening. You go through your phones or appstores/play stores and notice; every second application conforms to the facts we have been discussing. You go to salon apps or book movies online, everything is instantly provided to you. And, people have been taking a benefit of same by making it a business. The rising number of applications on the store is another validation.
Google cab services & notice the number of websites/applications that appear.
As a whole, everything or say, everyone seems to be dependent on instant services. From instant table or club bookings for your party night to booking rooms for your vacation online, you can get everything at a warp speed. And, the generations to come seem to have nothing less but only enhanced version of the same.