The Burgeoning On-demand Economy

The Burgeoning On-demand Economy

The on-demand economy is a relatively new phenomenon but one that is growing significantly especially in the past 5 years. Business people acknowledge that it was probably spawned when mobile development was gathering furious pace, especially with the launch of the original iPhone and the concept of app store. In addition to this, the development of high speed mobile networks coupled with advanced smartphones paved the way for the birth of new radical business models that centred on one crucial factor – convenience. In fact, convenience is the central theme of the on-demand economy and is here to stay for quite some time. As part of our mobile app development services, we design and develop and manage diverse set of applications that fulfil the client’s requirements and satisfy end user’s demands.

 

What is on-demand economy?

It is essentially the creation of digital marketplaces where goods and services are exchanged by virtue of online mediums and thrives on the smart analysis of massive user data. It is safe to say that most of us who own a smartphone must have been part of this economy either as a seller or a consumer – be it ordering food online, hiring a technician for household repairs, buying groceries and apparel online, booking taxis or cinema tickets online, planning trips online and so on. The e-commerce sector probably marked the nascent stage of on-demand economy. The greater adoption of the on-demand economy is because of empowering users more with the help of technology. It also exposes the user to a wide variety of choices than the conventional stores. Let us know dive into the specifics of the on-demand economy and see why this phenomenon is set to grow in the future.
 

On-Demand economy characteristics

Most of the key characteristics of the on-demand economy ride on convenience and informed decision making. But suffice it to say that all of this is powered by user data. For instance, being able to track the user’s online food order right from the smartphone is something else. Users can also choose when and how to pay securely – online transactions through card or internet banking or even cash on delivery. Everything is possible – and this also includes cancellations, again possible within a few clicks. Although sometimes it incurs a cost, the very choice to opt out owing to an emergency or change of mind is why on-demand economy thrives – Options.

But perhaps the most important feature is the ability of users to make informed choices by looking customer reviews and ratings corroborated with relevant media. Another thing that spurs on-demand mobile applications is the increased level of transparency. Users know beforehand how much they are paying after the several add-ons for the food they are ordering online. Add to this the proliferation of promo codes and referral codes and we got ourselves the digital equivalent of a capitalistic market offering various goods and services.
 

Mobile application development for the on-demand economy

The development of a mobile application catering to the on-demand economy is very much similar to developing a website. Clients can hire an android developer or an iOS developer for developing corresponding applications after doing intensive research on the target audience – this helps in chalking out a great app design and selecting the most important and desirable features. More specifically, what features pull customers towards using the app and what features prevent them using it. Thereafter, like any other web development project, selecting an appropriate technology and a good developer team is a must.

Some crucial things that developers must look out for while developing on-demand applications are: designing for compatibility with devices of different externals and internals, ease of use – it can make or break the client’s business, designing channels for getting customer feedback. The latter point is particularly important in the contest of the on-demand economy.
 
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