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Top advantages of running a multivendor B2C marketplace

1. introduction

“The only option better than a multi-vendor e-commerce marketplace to showcase all your products and offerings and grow your business, is a multi-vendor e-commerce marketplace that is promising and is talked about more often.”
The age of smartphones, technology, internet and online ordering has completely dawned upon us in the twenty first century. What has appeared upon us consumers lately, and even more persistently, is our growing interaction and experience with multi-vendor e-commerce hyperlocal platforms.
So, what does that say about our behavior as contemporary consumers?
In the real sense of it, we all have been silently ‘technified’, to say the least. Well, you read that right. We all are ‘technified’, meaning we have been made to adapt to the technological changes and transitions, from time to time, either partially or completely, and thus technology now dictates our behavior, both as businesses and consumers.
But does that technification of both of us, businesses and consumers, provide mutual gains to us or not? It certainly, does. Perhaps, that is why the world of online delivery and multi-vendor B2C marketplace is getting humongous by the day.
The year 2020 saw a surge in ordering of online products and services due to Covid-19, thereby leading many e-commerce business owners and aspiring entrepreneurs to start exploring their own online multi-vendor B2C marketplace. It is pertinent to note that since the beginning of 2020, over 1150 marketplaces have emerged worldwide.
Holding onto the e-commerce marketplace, various multi-vendor and B2C marketplace software are making their presence felt and craved for, by all the established businesses as well as individual entrepreneurs and startups. Through the B2C marketplace software, not only the businesses are economically benefitted but consumers too are satisfied.
So, does that say it out loud and clear that hyperlocal multi-vendor marketplaces are a thing of not just the present, but future too?
In the recent few years, the world has witnessed the growth of existing marketplaces skyrocket, while more traditional e-retailers have partnered with marketplaces or launched their own platform. A case in point is of the popular denim retailer Madewell that came into a partnership with online consignment marketplace thredUP to sell a selection of pre-owned jeans.
While new partnerships and marketplaces have undeniably sprung up, existing marketplaces have seen phenomenal trend in growth. Walmart’s marketplace, for example, reported that the number of sellers on its platform more than doubled in July 2020, adding more than 50,000 new sellers since July 2019. Further, some experts predict that B2C marketplace sales worldwide could reach an estimated $3.5 trillion by 2024.
Let us see as to what a multi-vendor marketplace is and what factors are driving the expansion and adoption of a multi-vendor B2C marketplace.

2. Gainful insights on a multi-vendor B2C marketplace: How do they work?

2. Gainful insights on a multi-vendor B2C marketplace: How do they work?

A multi-vendor B2C marketplace is a platform that provides power to businesses to partner with multiple vendors or sellers in order to sell products from a single storefront. This allows the vendor to have a substantial base of customers who are ready to buy their offerings.
Moreover, the shoppers get the option to choose from a massive collection of product catalog. It is possible because a multi-vendor marketplace has the support of technical infrastructure to provide listings and sale of plethora of products that span an extensive range of categories through several vendors.
The multi-vendor marketplace platform works as provided below-
  1. A seller finds for itself an online multi-vendor B2C marketplace platform to make its products and merchandise available to the market.
  2. The seller then registers its business as a vendor on the online marketplace platform.
  3. When it is done, the vendor/seller is said to have come onboard with its marketplace owner/delivery partner and a dashboard is assigned to them so as to list and manage their products.
  4. Now, when a customer orders a product from the vendor, the platform processes the payment and sends the order to the vendor.
  5. The vendor then prepares and packs the ordered product and ensures the shipment reaches the customer as quickly as possible.
  6. The marketplace owner charges a small percentage of commission, depending on the marketplace revenue model, and credits the rest of the sale amount to the vendor.
  7. The marketplace owner further focuses on onboarding additional vendors to grow their product catalogue.
  8. The vendor focuses on growing store sales to increase their profits and chances of economic growth.
  9. Any complaints about faulty products can be conveyed to the vendor or the marketplace owner, following which the seller usually replaces the product.

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3. Factors driving the growth of multi-vendor B2C marketplace

3. Factors driving the growth of multi-vendor B2C marketplace

A multi-vendor B2C marketplace follows the ‘bandwagon effect’, meaning with each passing day, the hyperlocal marketplaces are attracting even greater popularity. And there are substantial reasons and numerous factors for its steady growth. Several of them are mentioned below-
  • Smartphone adoption and internet penetration: This is in fact one of the fundamental reasons why multi-vendor B2C marketplaces have picked up pace. With smartphone adoption and internet penetration touching new figures every day, the global users find it easy to sit back and enjoy the utilities of a hyperlocal marketplace.
  • Growing digitalization and automation: Internet penetration and the need to go digitalized has left a large section of the global market automated. As and by business processes continue to get digitalized, an increased call for more automation comes into consideration. Now with businesses adopting more automated techniques in their operations as far as their online presence is concerned, the hyperlocal delivery industry is becoming a lucrative destination for start-ups and growing businesses.
  • Presence of big players: Some noteworthy hyperlocal delivery companies have brought a revolution in the e-commerce delivery space viz a viz Swiggy, Dunzo, GrubHub, Grofers, etc. Their mere presence in an industry that is wonderfully flourishing catches the attention of other companies, too. This makes it a favorite destination for many.
  • Ease of conducting business: With the coming into being of B2C marketplace software, the hyperlocal delivery industry has been steadily moving up. Businesses with the help of a hyperlocal delivery app are able to neatly sort their products & services thereby making businesses simple to operate & easy to run.
  • No inventory management: From the perspective of a hyperlocal delivery company, running an online marketplace requires no inventory. This is why it is also often called as a ‘zero-inventory platform’. The delivery company just acts as a bridge between the sellers and the buyers and hence has no liability of holding the inventory. This has pushed companies offering e-commerce marketplace solutions to businesses to get into the multi-vendor hyperlocal delivery industry.
  • Infinite possibilities: Several industries limit possibilities for businesses. Contrary to this, the hyperlocal delivery industry has a lot of potential to be unleashed by businesses. Given its adoption rate among businesses and consumers across the world, it is not stopping anytime soon. The industry is highly promising and hence more and more businesses are willingly laying their hands onto it.
  • Sedentary consumer habits: Transforming lifestyles have its sets of changes to deal with. The growing sedentary habits of consumers has pushed the need for ‘convenient’ delivery orders at their doorsteps. This has kept the hyperlocal delivery partners on its toes. Perhaps, this is a contributing reason as to why this industry has picked up pace, in the last few years.
  • Covid19: Attribute it to the pandemic, year 2020 saw people getting locked in their homes and finding ways of food and other essential household items safely reaching their homes. Had it not been for safety and convenience, the delivery statistics wouldn’t have been as much as they are today. Covid19, therefore, to a certain extent has significantly contributed to the growth of multi-vendor B2C marketplaces.
  • Need for online business expansion: Many businesses venture into an industry in order to expand their area of operations. The multi-vendor B2C marketplace, by virtue of its character to provide multi-vendor marketplace solutions to businesses, attracts a lot of businesses regardless of the industry they are in, viz a viz food or restaurant businesses, groceries, medical supplies, stationary items, etc. Since the marketplace promises growth, many businesses try to make an entry in order to grow and expand themselves.

4. Advantages of running a multi-vendor B2C marketplace

4. Advantages of running a multi-vendor B2C marketplace

Some of the benefits associated with having a multi-vendor B2C marketplace are as follows-
  • Access to multiple products: As the nomenclature ‘multi-vendor’ reveals, its marketplace is home to multiple vendors resulting in having a variety of products under one roof. This allows customers a plethora of products to choose from and provides ease of access to them which results in increased sales and profits for the business in B2C marketplace.
  • Cost efficient: Selling through a multi-vendor B2C marketplace is a cost-efficient option for businesses as it allows them to sell their products efficiently to a much larger segment of the market. The operations of a multi-vendor marketplace platform are better streamlined to bring cost efficiencies. They also go hand in hand as sellers are better able to sell their products to an increasing number of customers.
  • Draws a large traffic: Multi-vendor marketplaces, by virtue of their growing character, are able to find a massive influx of users on their platform on a regular basis. As and by they have become popular, they have drawn immense traffic. Increased traffic means increased visibility for the business therefore, resulting in improved chances of achieving sales and growth figures.
  • Scalability: Multi-vendor B2C marketplaces are highly scalable; meaning that they have great possibilities in store. Since the costs accrued to managing a multi-vendor marketplace are not much and a large number of sellers and buyers are naturally drawn towards them, their chances of scalability are higher than any brick-and-mortar business.
  • Few financial risks: Operating a marketplace is easier in the sense that several marketplace owners do not have an inventory to manage. They just act as a bridge between the vendor and buyer, thereby, reducing the risk of managing a complete inventory base. Besides, financial risks for vendors are also reduced as they have increased chances to sell through multi-vendor B2C marketplace platforms than any traditional physical store thereby helping ease their financial burden of managing and warehousing the unsold inventory.
  • Provides customized experiences: By marking its presence in the multi-vendor marketplace, businesses can also provide customized experiences to their sets of customers. For instance, your marketing or delivery efforts can be aimed at a specific niche or a particular category of customers in a certain geographic area, while for others it may be accordingly, different. Processes like data analytics, etc help in bringing more personalized experiences.
  • Digital first consumerism: Digitalization has picked up pace so much so that it has become a lifestyle component for many. In the world of digital consumerism, multi-vendor marketplaces have become the first stop for product searches and discovery. According to eMarketer, 53% of U.S. adults said they began product searches on Amazon when planning to make a digital purchase. The wide array of product options in marketplaces make it convenient for consumers to find the products of their need and choice and uncover the best prices before making a purchase. Moreover, as digital shopping trends continue to gain pace and climb, so has the need for consumer reviews as part of the purchasing journey. Marketplaces, by virtue of their widespread global presence, make it easy to read the opinions, feedbacks and experiences of other consumers prior to making a purchase.
  • Improved business decision making: Because such platforms are technology driven and highly automated, they provide access to features like- having a detailed dashboard of customer statistics, number of visits, customer preferences, customer searches, etc. in fact, they offer a categorical set of data about customers. All this enables businesses to make more informed business choices, an advantage that is denied to many.

5. Why is a multi-vendor B2C marketplace the best solution for contemporary businesses and customers?

5. Why is a multi-vendor B2C marketplace the best solution for contemporary businesses and customers?

A multi-vendor marketplace can turn out to be the perfect solution for people who are busy as a beaver and who want to avoid the hassle of shopping physically. It is a one-stop shop for buying products of their need. Moreover, by enabling online purchase transactions, a multi-vendor marketplace saves a customer’s valuable time, offers them a large variety of products to choose from, thereby making it a bang for your buck.
From the perspective of a vendor, getting onboard with such platforms can be the most viable and a profitable option because the marketplace gives them a larger audience to sell their products and thus eliminates the need to develop and maintain a web solution from scratch.
It is a great option for small businesses/e-commerce newcomers/aspiring entrepreneurs to get acquainted with the multi-vendor hyperlocal delivery industry as soon as possible and successfully reach out and trade in the global market.
Because, even though an average thinking business might not realize, with each passing zeptosecond, it is losing a fierce battle of which it is not even aware or treated to be a part of.
All products
So, would you prefer being brought down on your knees by the competitors onboard, even though when you choose not to fight that battle?
Would you try coming onboard a multi-vendor B2C marketplace platform, and prefer showing your business’ might to outcompete all those who, when you didn’t start, apparently seemed to be influencing and dominating the marketplace? The decision is all yours to make. But it is wise to remember the following saying that is less popular but is often correct- “Better never than late.”

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How to scale your hyperlocal marketplace?

1. introduction

1. introduction

“Sell the problem you solve, not the product.”
With the coming into being of technology and a rapid adoption of new channels of communication, the classical approach to marketing various merchandise and services at a local level has undergone a big paradigm change. From the age of small print ads, inserts and banners, etc. the world has found itself greatly exposed to the likes of digital marketing mediums and hyperlocal marketing techniques.
Without an iota of doubt, hyperlocal marketplaces, with the help of a multivendor marketplace software, have almost everything of need that they can offer to their customers and they are already solving many of their problems in today’s times.
Moreover, due to the increasing proliferation of e-commerce platforms, online marketplaces, and delivery-based enterprises, the expectations and needs of the consumers are increasing, too. Companies that deliver faster than their competitors naturally tend to attract more customers. So, it would not be wrong to assert that the hyperlocal delivery model, in today’s competitive era, does open up a slew of opportunities for entrepreneurs and start-ups.
In point of fact, increasingly well-funded start-ups, nicely curated products and services, and rapid on-demand delivery have contributed to hyperlocal e-commerce’s popularity. Their success has led to interest and participation by some of the large business houses and online giants, lately.
But what is a hyperlocal marketplace that a vast majority of prudent businesses are wanting to cater to, so desperately? And, what is hyperlocal marketing that contemporary businesses are rushing for and resorting to, so often?

2. Knowing the basics of a hyperlocal marketplace

2. Knowing the basics of a hyperlocal marketplace

The hyperlocal marketplace can be defined as a marketplace that helps in catering to the needs of a set geographical area of customers. In a hyperlocal marketplace environment, users can simply figure out the products and services on their own, offering them exactly more of their requirements. On-demand food delivery app-based services, personal care services, house care services, on-demand groceries’ delivery, etc. all are part of the hyperlocal marketplace.
All of us, at least once, if not more than that, have availed the services of Amazon, Flipkart or Myntra. Very much like them, a hyperlocal marketplace is an online multivendor place in that it caters to a limited or a predefined geographic area. The predominant feature of a hyperlocal marketplace is that the entire supply chain is located pretty close to the buyers as well as the sellers. In fact, just because the retailers, delivery drivers and customers are present physically close enough, a hyperlocal delivery is a matter of a few minutes. There you order, here it arrives at your doorstep. Ding dong!
So, does a hyperlocal marketplace really solve a customers’ myriad problems? Yes, it certainly does.
My Kirana is a popular hyperlocal marketplace app wherein you can conveniently order groceries or personal care products or avail other essential commodities of need. They have shops for different locations listed on their app and the products available in these stores. For instance, if you live in location ‘X’, the app would not show you shops of location ‘Y’ or ‘Z’. This makes the whole process of delivery easy and quick. Moreover, such a hyperlocal marketplace gives the consumers the convenience of relaxing at home and ordering while saving a lot of time and buying effort that could have been wasted, had they themselves moved out of their homes to get the food they ordered online.

3. What is meant by hyperlocal marketing?

3. What is meant by hyperlocal marketing?

Hyperlocal marketing is a technique of focusing your marketing and advertising efforts to a specific geographic location with the intention of targeting people conducting ‘near me’ searches on their mobile phones on a real time basis.
In other words, it is the process of targeting the prospective customers in a highly specific and geographically restricted area so as to lure them into visiting and buying from the website or app more often.
This blog, therefore, is centered around discussing precise location targeting through sharply defined marketing techniques called hyperlocal marketing and the ways of scaling a hyperlocal business in today’s fiercely growing hyperlocal marketplace.
NOTE: It was revealed through a research that the global hyperlocal service market size was worth $1714 billion in the year 2020 and is expected to grow to a whopping $5188 billion by the year 2030, with a compounded annual growth rate (CAGR) of 14.9 % from 2021 to 2030.
Hyperlocal marketing is strictly purpose driven. Its fundamental purpose is to capitalize on the ‘near me’ searches made by the customers. In fact, as per a published article, ‘near me’ searches have become extremely popular in the recent years among customers among the users. Data from Google indicates that ‘near me’ searches grew in volume by 130% year over year between 2014 and 2015 alone, and since then, Google users are using ‘near me’ searches to find everything from post offices in San Francisco to dispensaries in Los Angeles, to Chinese restaurants in Washington D.C and what not.
In tandem with the increase in near me searches during the last few years, the popularity of hyperlocal marketing has risen by leaps and bounds.

4. Hyperlocal marketplace: Knowing step by how it works

4. Hyperlocal marketplace: Knowing step by how it works

The working of a hyperlocal marketplace is simple. Here is how it works
  • Sellers and retail outlets (restaurants, grocery stores, pharmacies, etc.) upload their inventory on the marketplace website/app.
  • Customers browse the items they want & add them to the cart so as to place an order.
  • The customers make payment either via online modes or choose to pay via cash-on-delivery mode.
  • Seller receives the order on its marketplace website/app.
  • The seller accepts the order.
  • They pack the order to avoid any shipping and transportation damage and in order to make the delivery convenient.
  • Delivery agent visits the store and picks up the order for delivery.
  • Customers’ order is eventually delivered to his doorstep.
The simplicity of the working of a hyperlocal marketplace and the benefits associated with it make it one of the most sought-after destinations to consider for entrepreneurs and start-ups. Be it food, grocery, medicines or other household essentials, hyperlocal marketplaces are undoubtedly witnessing a surge in customer demand.
It would not be too far fetched to assert that hyperlocal businesses and their marketplaces have come a long way in their pursuit of attracting a greater number of customers with each passing day.
But, have you ever wondered what connects the sellers, customers and the delivery drivers?
The above step by step model may appear to be simple but there is a lot going on in the back end. A team of dedicated software developers who continuously keep an eye on what changes are needed in a hyperlocal business software, as per the growing trend or how often customer preferences or their choices are witnessing a shift so as to be tapped accordingly.
Also, why hyperlocal businesses are gaining momentum and attracting a quick sight of the global customers and therefore, are scaling like anything?

5. Factors that have contributed to the growing hyperlocal culture

5. Factors that have contributed to the growing hyperlocal culture

Following are the few factors that have actively contributed to their phenomenal rise.
  • Growing number of mobile internet users
  • Increasing rate of smartphone adoption and its penetration
  • Growing sense of urbanization among the customers
  • A call for bettered standard of living and improved lifestyle
  • Changing consumer preferences
  • Improvement in logistics infrastructure
  • Increase in business digitalization
  • High funding for e-commerce businesses
Taking due heed of the above-mentioned factors that have over the last few years significantly contributed to the whopping growth of the hyperlocal industry, one can learn about the path a business takes in its pursuit of economic prosperity and growth.
But, to be able to scale the business splendidly where every competing business is trying really hard to supersede the other, one needs to capitalize and make the most of a few of these factors, if not all.

6. The TOWS matrix: Learning to put a SWOT strategy into action to help businesses upscale

6. The TOWS matrix: Learning to put a SWOT strategy into action to help businesses upscale

A SWOT analysis of the business is often very handy and can lead to significant gains; and if carried out strategically, it can help you scale your hyperlocal marketplace in quick time.
While strengths and weaknesses are internal to an organization, opportunities and threats are always present in the external environment. It is true that there can be several strengths, weaknesses, opportunities and threats concerning a business, but it is even truer that many businesses are not aware of it. Only those who are, get to succeed.
The below provided image gives a vivid insight into some probable forms of S,W,O,T that can concern a business.

Strengths

Opportunity

Weaknesses

Threats

Prudent businesses of modern era are highly attentive and careful about the deployment of the right set of strategies in today’s fiercely placed hyperlocal marketplace, one of which is the application of SWOT.
To conduct an exhaustive SWOT analysis, following steps must be taken due care of-
  1. Make yourself familiar with the internal and external environment of your hyperlocal business.
  2. List your hyperlocal business’s strengths and weaknesses and its opportunities and threats.
  3. Divide your strengths into two groups:
    1. Those that can help you take advantage of opportunities concerning your business
    2. And, those that can help you head off potential threats
  4. Now, classify your weaknesses into two groups:
    1. Those that require improvement before you can take advantage of the present opportunities.
    2. And, those that you need to completely and quickly overhaul and convert into strengths in order to avert any potential threats that may affect your business.
  5. Use your lists as you make decisions that contribute to your business plan.
Develop strategies and actions for capitalizing on opportunities and create plans for countering the external threats and overcome weaknesses that could threaten the future of your hyperlocal business.
There are few possible strategic combinations of SWOT that hyperlocal businesses can work upon and upscale themselves. Let us have a look at them.

TOWS MATRIX

  • SO Strategy: This set of strategy is aimed at capturing the market opportunities present externally by making a good and impeccable use of your inherent strengths. In the context of a hyperlocal marketplace, an example of an opportunity can be growing internet usage among the worldwide users, which can be timely captured by efficiently working on your strength of already being a strong contender in that space, to make your marketplace presence more prominent. Running blitzkrieg advertising campaigns or sales offers can also be used in order to tap into the opportunity and scale your hyperlocal marketplace.
  • WO Strategy: This is aimed at overcoming inherently present weaknesses by exploiting the external opportunities. For instance, your weakness could be the absence of skilled technical people who can help you upscale the technical front of your business in the hyperlocal marketplace; but there is an opportunity in the form of people wanting more and more hyperlocal services in your area. In such a case, your business can allocate resources towards employing such technical people so as to develop the required technical knowhow or let’s say digital aspect of marketing and promoting its business and thus overcome its weakness.
  • ST Strategy: This strategy is about countering the threats present in the external environment with the help of your internal strengths. For instance, the hyperlocal marketplace is getting fierce with each passing day. The threat is the presence of potential competitors that may destabilize you from your competitive position. Adopting ST strategy, your business can ramp up its marketing efforts and come up with irresistible offers so as to outcompete your counterparts or it can work on its speedy delivery model and introduce drone deliveries so as to carve a delivery niche for itself and thence outpace other businesses.
  • WT Strategy: The aim of WT strategy is to minimize both weaknesses and threats. A company faced with external threats and internal weaknesses may indeed be in a precarious position. In the hyperlocal marketplace context, a weakness can be a restaurant’s inability to come up with food offerings of customer’s liking in a hyperlocal food delivery environment where competing restaurant players have a lot to offer to their customers, which is a potential threat. In such a scenario, weaknesses need to be overcome by prioritizing things of concern and thereby save oneself from the prevailing threats.

7. Hyperlocal marketplace: Exploring the scaling possibilities and the future that lies therein

7. Hyperlocal marketplace: Exploring the scaling possibilities and the future that lies therein

It is noteworthy that growing number of mobile internet users is seen as a potential opportunity by businesses wanting to grow and expand. By partnering with a company that provides a wide range of hyperlocal services through its e-commerce marketplace software and making your website or app attractive and more utility driven, your business can easily lure the users into using your website/app more often. The greater number of users turn up to your app, increased is the likelihood to generate sales and profits.
Once sales start to pick up, the chances of your business getting more visible among the users increases by leaps and bounds. This is what is known as increased brand visibility. But to be able to sustain that brand visibility in a highly fierce hyperlocal marketplace can be pretty challenging unless you couple it with the right set of marketing and advertising tactics and strategies. By smartly working on your online/digital presence, your business can easily create a hyperlocal presence for itself, which is what every business wants.
Besides this, your hyperlocal marketplace can be scaled by building and sustaining relationships and expanding your hyperlocal network by partnering with local stores, shops, vendors, delivery agents, etc
With the boom of information technology and the growing usage of internet, one thing which is evident is that the consumers are liking and moving towards effortless buying options and the hyperlocal model is enabling just that. With hyperlocal deliveries getting prevalent day by day, entrepreneurs and businesses can capitalize on customer loyalty and experience.
What makes a hyperlocal marketplace more interesting and intriguing a place is the fact that it has a lot of scope and it is a world full of infinite possibilities for aspiring businesses. It is more so with the coming into being of artificial intelligence, robotics and drone deliveries that renders the marketplace worth being into.
With everything considered, your hyperlocal marketplace could be scaled and made more competitive, with the right set of tools and tactics. While the right set of tactics through proper marketing strategies and plans need to be employed carefully from time to time, the former part (i.e., tools) is something which we at Hyperzod can promise to provide you.
From helping to place quick orders to real time monitoring of them and from live GPS tracking to having an elaborate dashboard for all the statistics your business may require, Hyperzod’s robust software capabilities may be something you need to put your faith into and it may be the jackpot you just need to hit.
Owning a software that has a bird’s eye view of the entire platform your business works upon is after all a business distinction in itself. Our software’s immaculate capabilities are a thing ‘to die for’, for many businesses who are going to flourish and prosper in a short span of time from now. And it doesn’t cost you a fortune, too.
Owning a software that has a bird’s eye view of the entire platform your business works upon is after all a business distinction in itself. Our software’s immaculate capabilities are a thing ‘to die for’, for many businesses who are going to flourish and prosper in a short span of time from now. And it doesn’t cost you a fortune, too.
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What is Hyperlocal Ecommerce?

1. introduction

“Ecommerce coupled with hyperlocal delivery model may be the ideal combination your business requires.”
Ecommerce is changing fast; and we are living in an era of quick commerce. The way business was being done yesterday has become a thing of past sooner than anticipated. And the same goes for businesses existing today. One never knows when and how sooner the business paradigm can change. Such a change is specifically being witnessed in on-demand delivery businesses, and the credit must be given to the hyperlocal business model.
A hyperlocal delivery model is defined as an online business model in which the needs and demands of customers are met through local offline shops via a digital platform. A hyperlocal delivery model is a natural ingredient for hyperlocal ecommerce to take place. A hyperlocal ecommerce marketplace enables the customers to choose and buy products from closely located and nearby shops.
Similarly, a hyperlocal delivery marketplace, also called hyperlocal ecommerce marketplace, is an online multi-vendor marketplace that serves a local-within-local market too closely, or in an area that is considered to be small or too localized so much so that it successfully meets the needs of specific customers.
A hyperlocal ecommerce business has two fundamental dimensions which it takes care of- geography proximity and time taken to deliver.
This is so said because a business adopting a hyperlocal model effectively and speedily meets the needs of the customers which are in close proximity or within a well-defined area.
The hyperlocal ecommerce system helps the customers to connect with local stores of particular geographical regions and gives them a better experience of shopping by providing them fast delivery of the purchased products.

2. Features of a good and promising hyperlocal ecommerce Software

2. Features of a good and promising hyperlocal ecommerce Software

  • Aesthetically appealing and attractive dashboard
  • User friendly interface
  • Simple sign up
  • Instant ordering and approval facility
  • Live order tracking
  • Quick delivery
  • Real time location tracking
  • Route optimization
  • Advanced payment services and options of payment gateways
  • Advanced and intelligent product search options
  • Huge database of customers
  • Driver wallet management
  • Instant notifications
  • Reviews and feedbacks

3. Why is hyperlocal ecommerce marketplace becoming a furore?

3. Why is hyperlocal ecommerce marketplace becoming a furore?

The below mentioned importance may be few of the many reasons that have resulted in increased hyperlocal e-commerce transactions.
  • It has proved to be a boon for local stores in terms of reaching out to customers, potential for growth, etc.
  • It gives customers a better shopping experience.
  • It ensures faster delivery of purchased products to customers.
  • It results in rapid increase of sales and revenue which further helps retailers to grow their business easily.
  • It has a significantly wide outreach.
  • It helps businesses get closer to the target market as well as the prospective customers.

4. Factors behind the whopping rise of hyperlocal ecommerce

4. Factors behind the whopping rise of hyperlocal ecommerce

  • Increasing number of mobile internet users
  • Improvement in logistics infrastructure  
  • Growing smartphone adoption
  • Sedentary habits of consumers 
  • Improved lifestyle quotient of consumers
  • Changing consumer preferences
  • A felt need for urbanization
  • Increase in business digitalization 
  • High funding for e-commerce businesses

5. Learning about the increasing popularity of hyperlocal ecommerce

5. Learning about the increasing popularity of hyperlocal ecommerce

Disrupting traditional business practices and uprooting several market taboos, hyperlocal ecommerce has come barging in. Ever since the concept has come into existence, it has evoked great curiosity and interest among consumers and businesses alike. While on one hand, consumers are resorting to more and more hyperlocal deliveries every day, on the other hand, businesses are leaving no stone unturned in ensuring their strong association with hyperlocal platforms which by virtue of their specialization in hyperlocal deliveries, can help them build and facilitate a robust hyperlocal ecommerce network.
Though not all, but a fair number of global businesses, of all sizes and nature, have taken to hyperlocal deliveries as a mainstream and fundamental aspect of their business. The need to go hyperlocal was felt by businesses a few years ago when they witnessed dramatic changes in the way consumers buy. It started to gain popular interest. This need was reinforced with the introduction of covid-19 pandemic in the year 2020. Had it not been for the pandemic and contactless deliveries, hyperlocal delivery figures through hyperlocal ecommerce platforms would definitely not have skyrocketed the way they did.
Graph of What is Hyperlocal Ecommerce?
Source: Allied Market Research
Hyperlocal utility services are expected to gain an increased traction and this can be primarily attributed to the growing disposable income of consumers, rise in working population and a greater need for convenience, as per a report published in Dentsu.
The rate of hyperlocal services adoption and accelerated growth in e-commerce industry has led to a big paradigm shift in the way global consumers shop, with first-time hyperlocal ecommerce users rising during the lockdown and contactless delivery and digital payments becoming the new norm.
In the similar report it was found that local food delivery stood out as the top-most used hyperlocal service, followed by local logistics and groceries and vegetables. Meanwhile, 33% of those surveyed said they use such services for their speed, while 27% attributed unique product and service offerings as a key reason to use such service.
  • Brands like Grofers and Amazon were the leading players initially, setting up their warehouses instead of partnering with retailers.
  • Swiggy, a popular food-delivery app, initially, has launched swiggy stores with retailer partnerships. Now, it is pivoted to develop stores to stock products.
  • Walmart-owned Flipkart made several efforts to work with retailers in order to deliver grocery orders, but launched Supermart, which also relied on its own warehouses.
  • Currently, Grofers runs on a model where it sets up large and mini-warehouses within cities. The mini-warehouses are managed by distributors who fulfil their deliveries to keep costs in check.

For offline retailers and physical retail chains, the hyperlocal model of business functioning has come as another opportunity to redefine their physical presence. Adopting it makes their online presence noticeable.

There shouldn’t be an iota of doubt about the fact that hyperlocal ecommerce businesses have been rapidly growing with the potential of expanding exponentially. There has been an increase in the number of brands emerging in this space and given its quick rate of adoption, both by businesses and consumers, it has the potential to consolidate even further, over the next few years. Hyperlocal’s collaboration with local stores and the connect they build with their customers digitally is benefitting all the stakeholders as now they are all connected to the supply chain model.

So, how benefitted can a business be, post the adoption of a hyperlocal ecommerce model?

Or, what are the benefits associated with hyperlocal ecommerce? They are a plenty, in fact.

6. Hyperlocal ecommerce: Going deep into exploring the benefits of this new norm

6. Hyperlocal ecommerce: Going deep into exploring the benefits of this new norm

As big as the hyperlocal ecommerce industry is getting, so are the benefits accrued to it. Let us know a few of them.
Speed delivery is one of the most distinguishing features of a hyperlocal model. Being located geographically close to the customers, hyperlocal businesses can achieve speeds that conventional marketplaces cannot offer. Across the globe, hyperlocal businesses are supporting communities better than the conventional ecommerce marketplaces by virtue of their ability to deliver the goods and services in the shortest possible time. Ensuring a quick delivery mechanism saves a lot of time and effort which then goes into other important business processes. This makes the whole hyperlocal business model highly efficient.
Hyperlocal ecommerce marketplaces have made it way easier for businesses to present and flaunt their offerings online in front of a large group of customers. Since everything is available on the online platform, businesses are better able to put their best foot forward by easily, neatly and categorically displaying a wide range of their products and services. This makes it easy for the customer to go through the product portfolio, compare features and benefits and make a choice accordingly. They don’t have to run from one store to another in order to get what they want. A diverse product catalogue is better able to meet the varying needs of the customers.
Joining hands with a marketplace owner that offers you a hyperlocal ecommerce software to work with, can be a boon and real cost saver for businesses. With a hyperlocal marketplace, the local retailers and sellers get a platform to offer their products without setting up their stores online. This saves a lot of money that businesses could have otherwise incurred. Not just this, but businesses are also prevented from incurring any additional overhead costs.
Overstocking and understocking may often be a problem that several businesses face throughout their lifetime. Hyperlocal ecommerce helps in overcoming such problems. Since hyperlocal ecommerce software are futuristic and know the market like the back of their hand, they are in a better position to figure out the amount of inventory that should be kept in store. It sort of makes you become smart with storage; thereby leading to improved inventory management.
A hyperlocal business model is perfectly suited to match the delivery requirements of customers residing in geographical proximity. Moreover, several hyperlocal ecommerce marketplace owners, have it in their software, where customers can schedule their deliveries as per their need. A customer who wants a gift to be delivered to his friend on his birthday, which is overmorrow, can make an order today itself, leaving the rest to the concerned business. Scheduling as per convenience is a luxury that is often denied to conventional ecommerce players.
Hyperlocal ecommerce platforms have emerged as great supporters of local businesses. Since the costs of coming onboard are low and the onboarding process is simple, even the small businesses can think about it. Moreover, by virtue of having a geographical closeness to both consumers and local businesses, such a model empowers the local retailers to go hyperlocal. Several ailing businesses and new start-ups have found a new lease of life for themselves, courtesy to hyperlocal ecommerce software and the hyperlocal model that businesses are resorting to, so often.

7. How to go hyperlocal?

If you are eager to offer hyperlocal services and are willing to adopt a hyperlocal business model for yourself, then here is what you have to do-
  • Decide the products you want to deliver
  • Choose your target market
  • Partner with local merchants
  • Choose a suitable revenue model
  • Get a hyperlocal delivery app
  • Select a logistics technology partner

8. Future of hyperlocal ecommerce Business model

8. Future of hyperlocal ecommerce Business model

Future for hyperlocal businesses, it would be rational to state, is highly promising. Since a hyperlocal business model finds close geographical proximity with the customers and sellers, it is becoming a rage world over, even more so after the pandemic struck all of us. Hyperlocal businesses hold the following prospects. Take a look
Some retail outlets have expanded their ambit of hyperlocal deliveries beyond what they used to sell. It can increase all the more, given the widespread impact of adoption of hyperlocal business model. For instance, retailers may move from selling accessories to clothing, cosmetics, etc.
Rural areas have not yet had a proper share of their hyperlocal deliveries. But with the growing outreach of hyperlocal ecommerce and the pace it has gained lately, rural areas are likely to have a taste of it pretty soon. Several two-tier and three-tier under tapped cities can also benefit from the hyperlocal model of businesses.
A highly promising business model encourages retailers to keep and store more and more inventory, in order to meet the soaring customer demand. Hyperlocal ecommerce is one such model. To satisfy omnichannel customer needs, retail stores are more likely to try and lay their hands upon expanding their storage space near their physical locations in the future.
Internet and digitalization have been at the centre of all the hyperlocal ecommerce revolution that is happening around. Several technology intensive businesses are most likely to use artificial intelligence in their business processes. AI adoption by local retail businesses is expected to increase. This increase in AI-backed processes will lead businesses to get smarter than they are today.
As hyperlocal markets get well curated, highly specialized and diversified, the logistics businesses have a possibility of leveraging delivery robots and air drones in order to make convenient and faster deliveries.

Final Words

Large ecommerce marketplaces, who haven’t yet entered, are observing the hyperlocal space keenly and may even be relentlessly strategizing to foray into it. Before they do that, ambitious start-ups and aspiring entrepreneurs, it is suggested, should do it in order to get the first mover advantage that they can be deprived of post the entry of bigger players; because the early bird, as they say, catches the prey.

But until a conclusion, whether ‘to go’ or ‘not to go’ hyperlocal is reached, it is urged to keep the following small statistic in one’s conscious thoughts;

“Growing at a compound annual growth rate (CAGR) of 14.9% from 2021 to 2030, the global hyperlocal service market size which stood at $1714.60 billion in the year 2020, is projected to reach $5188.60 billion by the end of 2030.”

And know this for sure, that we are living in an era of utmost customer convenience and improved digitalization and there is no other future for businesses, except hyperlocal.

‘Yes. Hyperlocal is the future!’

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How to choose the best hyperlocal eCommerce software

Of the most discussed things in the business fraternity and e-commerce industry, one is the word ‘hyperlocal.’ Yes! The hyperlocal e-commerce platform is the latest buzz; the buzz bearing promise, excitement and phenomenal growth.

1. introduction

Of the several blessings of internet and technological evolution, the most important is the coming into being of ‘hyperlocal ecommerce.’ If this term does not sound familiar to you, you are perhaps missing on a lot of growth and transformation that is happening around. A lot of consumers and most importantly businesses, regardless of any industry, are quite literally, going crazy about it. This growing craze is a bold assertion in itself that ‘hyperlocal e-commerce is the future.
So, what is meant by hyperlocal ecommerce and what is this global craze all about? Let us find out.
Hyperlocal e-commerce is a process that brings the vendors and buyers really close to each other so much so that it results in speedy ordering and delivery process. Hyperlocal e-commerce is super quick. It also helps the customers to connect with local stores of specific geographic regions and gives them a better experience of shopping by providing them fast delivery of the purchased products.
All in all, a hyperlocal delivery model is classified as an online business model in which the needs and demands of customers are met through local offline shops via a digital platform. A hyperlocal business model is a natural ingredient for hyperlocal ecommerce to take place. Such an e-commerce model enables the customers to choose and buy products online from closely located and nearby shops.
We all remember the pandemic times. Right? Had it not been for the sake of making online deliveries and meeting quick demands, hyperlocal e-commerce would not have gained such rapid pace the way it has. Statistics reveal the demand of groceries and other essential products ordered online jumped to almost six times around the end of 2020 since the lockdown was implemented. And why not, online buying is the way forward! And if such statistics are anything to go by, hyperlocal e-commerce is here to stay.

2. Hyperlocal e-commerce: Managing deliveries through strict time schedules

2. Hyperlocal e-commerce: Managing deliveries through strict time schedules

A hyperlocal e-commerce takes into due consideration the following two perspectives- geographical proximity and time taken to deliver.
By this, it is intended that a hyperlocal e-commerce can be everything, but far away and sluggish. So, what makes it so close to businesses and customers and blazing fast and super quick?
The hyperlocal business model may be the answer. The entire model is built in a manner that the whole chain of business activities is so clubbed and interrelated that they all lead to maximum gains for the business, both in terms of efficiency and effectiveness. The model ensures geographical proximity between the local buyers and vendors, thereby facilitating the selling, buying and delivery process. Perhaps, this is the reason why businesses and customers are going after it so passionately.
Have you never felt that need of conveniently ordering a gift from a hyperlocal e-commerce business? Or, Don’t you remember ordering a pizza for your hungry children while you were busy attending guests at home?

We all have had, in part or whole, our share of experiences with the hyperlocal e-commerce platforms. Such experience have made us believe things about businesses and deliveries, that were difficult to fathom by many of us, a decade or two back.

Modern day consumers know their buying choices and preferences well and given an option they prefer to choose ‘convenience’ above everything else. This is where the role of hyperlocal e-commerce platforms come into play. This platform gives consumers immense power to make orders and purchases possible at their own discretion, with minimal buying efforts, while they happily choose to remain in the confines of their homes.
Sellers too are not far behind in making every buck possible that arise out of a hyperlocal e-commerce transaction. They are aware of the change in consumer buying choices and patterns and the ongoing transformation of markets they intend to serve. In the hope to serve such potential markets, many retailers are investing money and committing themselves in online delivery services.
Hyperlocal e-commerce marketplace is the newest trend providing small businesses an opportunity to reach more customers online for selling goods & services. The business model is convenient for a plenty of buyers as well, as they can hop from one online store to another for choosing and buying products of their choice.

3. Benefits associated with hyperlocal eCommerce

3. Benefits associated with hyperlocal eCommerce

a. Massive Outreach

Since every business activity is getting done online through a hyperlocal software, businesses can reach to a large section of the society, both within the country and abroad, easily. This provides businesses with opportunities to capture a large segment of the market- a thing that wouldn’t have been possible with any traditional business.

b. Improved customer experience post purchase

There is a natural craving among consumers for having pleasant experiences. A hyperlocal ecommerce platform offers them this feature. A customer experience, in the contemporary times of hyperlocal deliveries, can be defined as the sum total of features the hyperlocal platforms provide to them through deliveries. This is why hyperlocal deliveries are often deemed to be significant contributors to customers’ experiences.

c. Visibility for local stores

Which business wouldn’t like to increase its visibility? Hyperlocal e-commerce platforms, by virtue of their widespread global presence, offers businesses a huge prospect of increasingly its visibility. Increased visibility of a business enhances the chances of more customers viewing it, interacting with it and ordering from it. This is a big benefit for local vendors as they get an opportunity to present their offerings in front of a wide array of customers.

d. Minimal efforts for online retailers

Retailers and local sellers have enjoyed every bit of the hyperlocal journey they have had so far. An efficient hyperlocal software does all the hard and tedious work himself, and leaves little for onboard businesses to make efforts and worry about. This simplifies a lot of business problems and saves a lot of effort that could have otherwise gone into any activity concerning a non-hyperlocal business.

e. Lower logistics costs

Since the vendors and customers are located close to each other in a hyperlocal e-commerce model, and there is a more continuous demand and supply of products, vendors don’t have to bear the cost burden of managing a huge inventory and logistics. A smart and everyday order management system helps them stay clear of any logistical costs arising out of hyperlocal e-commerce transactions.

4. Features of a good hyperlocal ecommerce software

4. Features of a good hyperlocal ecommerce software

The first impressions of a website or the landing page should be appealing. A good software takes due care of that. Aesthetics, after all are extremely important.
The more user friendly is the interface, the increased is the likelihood to attract users naturally to your business.
No user of today likes hassles. A simple and easy or a one or two step sign up process helps businesses have an upper hand over other lengthy and technical platforms or software.
We are living in an age where online orders and deliveries are met instantly. Any business caught lacking on that front shall suffer and no business will like that. To assist such facilities of instant ordering and approval, automation plays a pivotal role viz a viz- ‘auto confirmation of orders’ and ‘auto assignment of drivers’ are features than can help you stay distinguished. So, to ensure that the software you plan to have, has such features, is business prudence.
With convenience of the utmost degree already at their disposal, not having a live order tracking feature may hurt a business’s prospects. Customers are getting impatient with every order they make. They need to check once in a while the whereabouts of their order. So, it can be an important feature to own and flaunt, too.
If you are a hyperlocal ecommerce business, you can be everything but slow. So, making quick deliveries is not an option over here. You ought to be quick; instead, super quick in order to outcompete the rival businesses. And only a capable software can help you do that.
Tracking the location in real time’ is a feature of highly efficient apps that acts as an icing on the cake for onboard businesses. So, it’s really important to ensure your business avails this feature.
It is the process of finding the best and most cost-effective route for delivery drivers. Automated route optimization helps businesses to stay ahead by formulating delivery routes that are both time and cost-effective. So, a software that is GPS enabled and works on a satellite-based radionavigation system can surely help you optimize routes for your business.

Have you ever thought how would it feel to get stuck while making payments for your online order? It’s a bad experience to have. But having a software that has PayPal, Stripe, etc., integrated into the software can be a bang for the buck as they really provide transactional ease and convenience of the next level. Businesses should ensure the availability of such advanced payment services and multiple payment gateway options to avoid any transactional bottlenecks. Moreover, what can be an add-on for a business is the acceptance of payments in cryptocurrencies through a gateway named ‘Coinbase’.

This feature enables customers to quickly find products of their desired choice. The more intelligent the software is, the more advantaged the business becomes. Filters and tags are often used by hyperlocal eCommerce software to put forth in front of customers the most wanted, looked-for and desired products. This feature brings customers closer to the products of their choice. So, having this feature can really set businesses apart and help them stay in front and ahead of others.
Smart, efficient and futuristic hyperlocal eCommerce software generally have a high database of customers which enables businesses in improved decision making. A huge database of customers, if realized, is a big benefit for businesses. It is just about how well they are able to capitalize on it.
In this fast-paced world of superfast hyperlocal deliveries, instant notifications about an order are accepted with a warm embrace. Customers do like to be notified instantly. For instance, Hyperzod relies on firebase- an app backed by google, as a service provider in order to provide push notifications. So, it’s a feature important enough to be considered by businesses when choosing a software.
A good software always provides and promotes genuine user reviews and feedbacks. It makes customers feel that they too have a say. And if your business can lend ears to your customers, there isn’t anything better.

5. Learning about the factors to keep in mind while deciding upon a hyperlocal ecommerce software

5. Learning about the factors to keep in mind while deciding upon a hyperlocal ecommerce software

Choosing an e-commerce platform can often be a challenging and deciding task. As against the floating belief that it is easy, it is not a one-size-fits-all decision. The platform that best fits your business’s bill depends on two fundamental things- your specific business needs and technical expertise. It is important to know about your needs and expertise prior to finding a hyperlocal eCommerce software.
For instance, if you are an entrepreneur or a start-up who does not want to deal with the complications of website development, it is recommended that you start with a SaaS-based (Software-as-a-service) hyperlocal e-commerce platform. Though one can find a plenty of SaaS based platforms, but there are a few who are distinguished from the rest. So, some prudence is also advised when a business chooses to pick one over the other.
It just needs to be kept in mind that an efficient and futuristic platform generally takes care of the technical aspects like web hosting, payment processing, platform customization, order scheduling, among others. As a result, you can quickly and easily launch your hyperlocal e-commerce business.
If you are an aspiring business or an entrepreneur who is just starting in the online space, the following points can help you decide.
Some of the many factors that you need to consider when selecting the right hyperlocal eCommerce software/platform for your business can be as follows-

a. Cost

This is one of the most fundamental aspects to consider for any business. Whether you’re a small business, a local retailer or an already established brand trying to make and grow yourself online, you need to understand the cost structure of each platform. Almost all hyperlocal e-commerce platforms have a monthly or an annual fee. Consider how your customers will pay for your products to help assess opportunity costs. While it’s natural to expect the best-in-class features from your partnering e-commerce platform, you also don’t want to overpay. So, the primary task is to do a comprehensive research work and weigh properly the pros and cons of each platform. Secondarily, decide as to which platform offers the features at a price that best meet your business’s needs and objectives.

b. User friendliness

This may be one of the most sought-after features of a great hyperlocal eCommerce software. An easy-to-use software is a big yes for all businesses wanting to go online. In other words, a software that is user friendly naturally attracts a lot of users on its platform. Hence businesses should actively look for this feature. One of the best ways to ensure it is to look for features that make it easier for your customers to shop from your e-commerce business and also simultaneously smoothen the ways for you to sell online efficiently.
It is suggested to aim for an understandable and easy-to-use interface that gives a business the ability to capture the feel of its unique brand fully. For example, look for features like ‘smart product discovery.’ Based on the searches a customer makes, the platform brings forth those categories of products he wants or likes to see. This feature gives power to customers to choose a product of their liking easily and conveniently, with just a few clicks and taps. Similarly, a feature like ‘easy order management’ empowers a business to get all the order related work done, in again just a few taps and clicks.

Few questions can be borne in mind while choosing an e-commerce platform:

Does the platform provide easy and convenient ways of putting and shuffling your best products first?

Does it offer neat and clear categorization of your offerings so that it is easy to understand for the users?

Does it provide quick ordering facility?

Are you able to create different categories for your products and map them easily?

Is the platform intuitive in terms of knowing the needs of the customers and displaying the best possible products on the platform?

c. Uninterrupted customer and technical support

No business ever wants a dissatisfied customer. And to ensure their needs and grievances are taken a good care of, there is customer and technical support. During the course of managing an e-commerce store, a business might encounter problems that will require troubleshooting on an urgent basis. Therefore, it becomes binding upon them to look for an e-commerce platform that offers solid tech solutions and have a genial customer support team.
For instance, a platform that offers tech and customer support only during specific hours would be a serious drawback for a business. It is a big no, in fact, as it can leave the customers aggrieved and wanting for solutions. It is important to ensure to get onboard a platform that provides an uninterrupted support via email, live chat, or WhatsApp, etc.

d. SEO Friendliness

While it is true that SEO friendliness is important to have a successful online business, it is even truer that having an SEO friendly hyperlocal e-commerce platform can be a mere wish for many businesses. Not every platform is as SEO friendly as some really good ones. So, what does SEO friendly mean? And what does it actually do?
Making a website SEO-friendly means that google and other search engines can crawl each page on the website efficiently, interpret the content effectively, and index it in their database. Once indexed, they can then serve the most relevant and valuable web pages to their users based on the topics they search for.
A website that is effectively optimized for SEO helps consumers to discover your business and its offerings through search engines. That’s why your e-commerce platform must have SEO abilities that can help your business get discovered online easily.

e. Detailed analytics & real time reporting

This feature helps businesses in making quick decisions. And to make quick decisions, a business needs to well informed. While on one hand, detailed analytics thoroughly generates the past and present business data at one place to build deeper understanding, real time reporting, on the other hand, ensures instant updates on the happenings, at literally the speed of light.
Through this feature, businesses can track all the important things viz a viz—number of sales, payment methods, products most often viewed or ordered, order amounts, and more. Just ensure that the stats are displayed in an easy-to-understand format. Such detailed and comprehensive presentation of data and statistics surely assists a business in improving its decisions and performance over time.

f. Single/Multi-vendor support and scalability

Every business aims growth. A single vendor business may join hands with a hyperlocal eCommerce software in the hope that it will scale up its business someday. So, what do you do if a day arrives when your business starts growing and you choose to move from being a single vendor to a multi-vendor one? Do you then go about looking for a platform that can make you a multi-vendor business? Certainly not. So, it is recommended to take care of this option initially, when choosing your first hyperlocal e-commerce platform. Not to forget, there may be a feature of auto-scalability as well that hyperlocal platforms may have. It adjusts the scalability automatically depending upon the data. Such a feature empowers your business by providing wings to let you grow easily and uninterruptedly.

g. Futuristic

Being able to know and predict the future correctly is surely an add-on feature for businesses onboard a hyperlocal platform. Prior to choosing to get onboard, it is important to ensure whether the software is futuristic in nature or not.

Can it predict things of value for your business?

Can it be relied upon?

Does it have a strong enough analytics and artificial intelligence backed processes so as to make sound future judgements relating to markets, products, etc.?

6. Why should you fervently and quite optimistically invest in a hyperlocal ecommerce software

6. Why should you fervently and quite optimistically invest in a hyperlocal ecommerce software

The market has witnessed increased interest of investors in the hyperlocal e-commerce segment primarily due to proposed value propositions of online business models which have been able to improve ‘user experience’ and ‘user interface’ to a great extent and have drastically reduced consumer pain points caused from traditional business models. As a result of such change, the hyperlocal e-commerce model appears to be the most lucrative resort for a lot of businesses, irrespective of the industry.

This, it is supposed, can be a reason enough for aspiring businesses to lay their hands on them without much procrastination.

Wrapping up

As the world goes hyperlocal, there are plenty of opportunities lying ahead for businesses who are passionate about what they do and how do they do it. A little transformation, if needed, and small incremental steps towards adopting a hyperlocal model can spell out the future for your business.

It is noteworthy to assert, by analyzing data and trends, that businesses who are going to survive and make big money out of their investments will certainly be the ones who accept and adopt to the changing needs of the target markets and their respective customers- and that calls for getting into the ‘hyperlocal mode’ as soon as possible.

As they say- ‘the early bird catches the prey’, so should your business, by deciding upon its niche, capability areas, the hyperlocal e-commerce partner and your prospects with it. Having done this, it is suggested to then make a well-prepared incursion into the market quickly and as early as possible.

Afterall, pioneer firms have their own first mover advantages. Would you not want to have one for your business?