What is Hyperlocal ?
- Hyperlocal is a platform to enable local offline services from anywhere, anytime.
- It is a digital footprint with location intelligence for the consumers to bring you what you want exactly & where you are.
Why Hyperlocal ?
- Today offline and online businesses are varying for customer attention.
- Online is a new trend and combined with the consumer location – the offline businesses worth billions are activated in the online world.
- Hyperlocal platforms solve the problem of matching immediate demand with the nearest available supply in the most optimized manner. Perhaps this is the reason why most of the e-commerce giants are opting for Hyperlocal distribution channels.
Factors leading to Proliferation of Hyperlocal
- The tele-density in India is about 78% and out of that 60 % of the population is experiencing the internet on their mobile.
- Factors leading to the relevance of hyperlocal are – increase in the number of internet users, multiple payment options and gps enabled devices. Now all e- commerce businesses and other businesses are thinking hyperlocal.
- Hyperlocal space is having its time under the spotlight in India and mobile is playing a pivotal role in driving the overall ecosystem.
- Startups like Peppertap, Grofers, and Jugnoo have been scaling up fast.
- All these startups are mobile-only platforms.
Benefits of Hyperlocal for Local Businesses
- Hyperlocal markets offer customers the best of both worlds – Virtual and Real.
- It combines the benefits and convenience of online shopping with the opportunity of personal interaction and comfort of local retail shops.
- It works towards empowering smaller and local retailers to think smart and tie up their business virtually to serve customers in their locality.
- It offers solidarity and sustainability to local retailers while building a network for them. Customers in fast-paced cities stand to benefit from the easy accessibility, which makes it a win-win situation for both.
How Hyperlocal benefits Brands
- For FMCG brands, hyperlocal and marketplaces act as an additional channel for sales.
- It is also a chance for the brands to connect better with customers.
- More importantly, if the company makes investments in the marketing tools that can measure customer behavior and market the products more efficiently than regular offline efforts.
How Hyperlocal benefits Consumers
- Keep an eye out for who is spending the most on customer acquisition and enjoy the service/product, because this is the lowest price customer is ever going to pay for these services.
- Hyperlocal innovation is the route to building the next-generation cities that India deserves
- Fuelling India’s economy : Hyperlocal startups are generating more employment opportunities
Biggies on Hyperlocal Bandwagon
- Amazon, Flipkart and Paytm are prepared to up the ante by launching their hyperlocal services.
- Amazon Kirana is already operational as a pilot in Bengaluru.
- Paytm has launched Zip mobile app and is testing in Bengaluru.
- Ola has launched Ola store, an hyperlocal grocery mobile app.
- Hyperlocal is the next frontier for e-commerce companies to bring massive scale and deliver goods instantly.
- While we see the rise of on-demand startups like Grofers, Peppertap and Jugnoo among others, e-commerce giants Flipkart, Amazon, Snapdeal and Paytm see hyperlocal as the next avenue to accelerate scale.