The concept of a global village is no longer in the dystopian future. It might not have reflected in culture or lifestyle, but it has a visible impact in business. This model of business is called hyper-local, which has taken the world by storm. Prefixing the word “hyper“ with any word would imply that the intensity is way beyond superlative. This is precisely what hyperlocal is about.
It is natural that when a business model becomes easy and available, people would want to identify their niche and operate within that area. The most obvious and easiest definition of a niche is to operate in specific geography even if the business provides the same service as many other businesses.
In short, hyper-local brings the convenience of globally recognized and renowned technology to the comfort of shopping local.
The advantages of going hyperlocal
Going hyper-local presents a multitude of advantages for both the consumer and the business owner. There are a few key advantages that make hyperlocal one of the most lucrative business models in this day and age.
– Nurturing the local
The hyper-local business model supports local economies. There has always been an allegation that the intervention of technology in our everyday lives has led to local businesses being deprived of the usual profits. With the hyperlocal business model coming in, the technology will stay intact and it will serve to support local businesses.
While this might seem trivial, the hyper-local business model helps in normalizing economic growth all across specific geography. This will blur the line that exists between producers and consumers. It also has a possibility to create a digitally-driven symbiosis where the consumer of one product is the producer of another product, and everything is locally sustained, giving rise to self-sufficient and sustainable pockets of the economy.
– Transparency in eCommerce
Hyperlocal delivery apps ensure that there are no hidden charges involving your order. The entire process remains transparent and accessible, so the trust is not compromised at any point in time. The process right from placing the order to confirming the receipt and the shipment remains completely transparent.
On a humorous but relevant note, any lack of transparency would mean that the consumer does not have to confine themselves to emails but can even go to the doorstep of the business person and question them!
– Avoiding unwanted exposure to other areas
The COVID-19 crisis has made people rethink a lot of things that we have always taken for granted. With restrictions on moving out of homes and with unwritten rules of confining to pockets that will limit exposure, hyper-local is increasing in its relevance in the new normal. Hyperlocal would mean that you only interact with people in your neighborhood, minimizing the possibilities of contracting viral diseases.
– Efficient and economic deliveries
The cost saved through e-commerce in comparison to retailing is humongous. One of the biggest chunks contributing to the cost of any e-commerce transaction is logistics. Logistics not only includes delivery but even warehousing.
With hyper-local, these cost factors are drastically attenuated if not completely eliminated. The logistics of delivering in local areas are considerably low as it does not involve warehousing or expensive transportation. It also ensures that the produce is fresh, especially when it comes to food/organic items.
– Elimination of intermediaries
The most important advantage that hyper-local brings is the complete elimination of intermediaries. Since the number of layers between the producer and the customer is reduced, the cost also reduces significantly. The customer can get the products for better prices and the vendor can sell them for better profit without turning out money for people who might not be directly involved in the business.
The relevance of a super app
It cannot, in all of this, be denied that going hyper-local considerably limits your audience. On the flip side, however, the trust that you have established with your customers can transient across multiple domains. This would mean that you can open a business that offers multiple services with a single brand under a single umbrella. Such mobile apps that offer multiple utilities under a single banner are relevantly named super applications or super apps.
Hyperlocal and super applications go hand-in-hand. Some skills involving hyper-local, like delivery, are not just confined to a single business but multiple businesses. For example, a person who owns a bike can, in addition to operating it as a bike taxi, use it for grocery delivery, food delivery, and a lot more.
The different possibilities
Going hyper-local opens up a plethora of opportunities for any aspiring entrepreneur. There are certain inherent advantages that can make hyper-local businesses dependable sources of income and revenue.
Considering the business landscape of today, we have given below a few profitable domains that you can explore.
It all started with taxi booking! Having a hyper-local taxi booking service helps in a quicker turnaround, friendlier service, minimal confusion in reaching locations, and above everything, easier communication without language barriers. This will also help provide cost-effective transportation solutions for people in a certain locality while at the same time, not compromising on the revenue. The distance that the driver spends without any passengers, and consequently, without any profit, will be kept to a bare minimum.
– Food delivery
Food delivery is the segment that no one thought would be so successful, but today, we are witnessing how profitable this segment is! It might not make sense for a food delivery service to call a driver from someplace a few miles away to deliver food for a home that is less than a mile away from the restaurant.
It is at this juncture that hyper-local food delivery comes into the picture. A hyper-local food delivery app will help in getting food delivered faster. They will not have any confusion in locating the restaurant or the location of the user who ordered the food. Given the self-imposed restrictions and rules of the government, people would prefer to order food any day than visiting a restaurant, even if the restaurant was just a couple of streets away. Hyperlocal food delivery is quite likely to be one of the most successful and profitable directions for investing in the near future!
– Grocery delivery and its extensions
There are a few services that intend to remain hyper-local irrespective of how much technology makes its influx into every other stream. Grocery is one such service. People have always trusted local supermarkets and the brand. Bringing the hyperlocal business model into the grocery delivery equation will be a benefit for all the parties involved. Including features like scheduled delivery of staples and monthly grocery, subscriptions will help in further strengthening the brand presence and revenues.
The same grocery delivery mechanism can be extended into courier services between homes, medicine delivery, and almost every other service that involves transporting small to medium-large packets/parcels from one place to another within the locality.
– Handyman services
Handyman services are always required in some emergency situations. Therefore, naturally, it is best for handyman services to remain hyper-local. No one wants to wait for more than a day to get their faucet leakage fixed or their electrical issues addressed.
A hyper-local handyman service will also give employment/earning opportunities for service providers in local areas. This stands as an advantage for not only the customer but also the service provider.
The relevance, profitability, and the projected increase in the need for hyper-local applications have been addressed beyond an iota of doubt. Local businesses do not only help customers but even the service providers without putting them through the hassle of commuting, especially at a time when social distancing norms need to be respected and public transport could be considered not very safe.
While the profitability has not raised questions, it is quite possible that entrepreneurs might have some hesitation in getting into this stream of business because of the complications involved in building a complicated app like Gojek.
Gojek can be considered the most prime example of the success of super applications. It has not only expanded the possibilities of making a profit but has also created a foolproof ecosystem for the pandemic, ensuring that the drivers get paid in some way or the other. A driver who cannot make money by driving a cab can not do it with delivery services.
The apparently insurmountable task of building a complicated app like Gojek has been adequately jettisoned by the presence of Gojek clone solutions. With a Gojek clone, it becomes simple to build an on-demand app solution for multiple services. The white-label solution will also save a lot in terms of boat time and money. You do not have to be concerned about bugs and glitches that might interfere with the basic functionality expected out of the product.
All you need to do is get in touch with a company that specializes in the development of white label Gojek clone solutions. They will understand your requirement and present you with a perfect super application that will enable you to launch your business in the shortest possible time!