Category: Guides

How to shape a successful marketing strategy for digital marketplace?

Post author By hyperzod
Post date November 5, 2022
No Comments on How to shape a successful marketing strategy for digital marketplace?

“Not since the digital revolution in the early ‘90s has technology placed such a comprehensive burden on business, employees and individuals to reinvent their business plans, services and products, and themselves to keep pace with the changing marketplace.”

– Simon Mainwaring

Table of Content

1. introduction

2. Growing relationship between businesses & a digital marketplace

3. Some useful statistics

4. Essential touchpoints prior to choosing a strategy

5. Marketing strategies for digital marketplace

6. Conclusion

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.”

Digitalization, as permeant and inevitable as it can get, is laying its pervasive hands upon businesses and customers alike. It is spreading like wildfire from urbanised areas to pockets of several suburbs and to the rural corners of the world. That’s how ingressing digitalization has been, lately.

E-commerce marketplace platforms and the growing hunger for hyperlocal deliveries has impacted and digitalized businesses and customers, often for good. This has resulted in the coming into being of highly sophisticated and technology-intensive online platforms, which are commonly known as digital marketplaces.

A digital marketplace is thus an online platform that creates a venue for both buyers and sellers to transact over a product or a service. It helps bring together the potential buyers of a product or service with the providers of that very product or service. In simple words, a digital marketplace is an intermediary platform that doesn’t own any assets in the form of products or merchandise to be sold.

2. Businesses and digital marketplace: Understanding the growing relationship

With businesses and entrepreneurs increasingly getting into the digital marketplace, the competition has not just transformed but has intensified more than ever. Businesses, irrespective of their nature, are partnering with the providers of digital marketplace or the so-called hyperlocal marketplace solutions to support their digital platforms. Not just this, but their reliance on such hyperlocal marketplace softwares is increasing day by day.

Without a digital marketplace, a business, no matter how flourishing and prosperous it is, can constrain its ability to reach out to its customers and present to them its offerings. Digital marketplaces are the need of the hour since they are vital for building positive value about your brand and creating an exceptional and an unforgettable customer experience.

Right from selling food items to clothes and groceries to stationaries, it’s all getting done online, and digitalization is the pivot around which modern day businesses are moving. Think of UberEats, Swiggy, Amazon, Doordash and eBay, and know that their brand reputation is only because they have boldly chosen to go online in the e-commerce world. And courtesy to digitalization and automated business processes and techniques, they have been able to maintain their competitive positions over time.

So, before we go on with the discussion of what ways and strategies will best meet the digital marketplace objectives, it is imperative to understand about the parties involved in the digital marketplace. Essentially, a multisided business model of a marketplace involves the following participants.

Operator or the marketplace owner: It is a company that provides a digital platform for facilitating buying and selling in the digital marketplace;
Buyer: It refers to customers who buy from different merchants who are onboard the digital marketplace platform;
Seller/Merchant: It is the company that offers its products or services to be listed for selling on the digital marketplace platform.

These three parties generally inhabit the digital marketplace ecosystem. Each of them has his role to play in order to achieve mutual gains arising out of their co-existence on the digital platform. This mutual reciprocation has helped facilitate digitalization and technology intensive business processes worldwide.

In fact, seeing the growing reach of digital commerce, many traditional physical stores are quickly laying their hands on digital marketplace platforms. Walmart is one big name among many, that started its own online marketplace in the year 2009. After witnessing some industry peculiar highs and lows for a few years, the United States’ largest retailer, surpassed one lakh sellers in its marketplace, nearly thrice more than it was before the covid pandemic hit the world.

3. Some useful statistics

Below are some statistics so as to gain insights into how big the digital cum online marketplace is increasingly getting with each passing day.

To put a statistic in point over here, as of the year 2021, Amazon and eBay, both stand as the most visited online marketplaces worldwide.
By the second half of the year 2021, Walmart was the third most visited online marketplace in the United Sates.
As of the year 2020, TaoBao and Tmall were the world’s leading online marketplaces based on gross merchandise volume, with roughly 600 billion US dollars each.
A homegrown Latin American marketplace player, by the name of Mercado Libre, is one of the fastest growing online marketplaces globally, with an expected compound annual growth rate (CAGR) of approximately 66 percent between 2019 and 2021.

So, whether your business prefers to sell its offerings on eBay, Amazon or other leading marketplaces, it’s important that you keep track of the latest e-commerce statistics and trends from time to time. The rapidly changing paradigm of the digital marketplace industry as well as world transforming events and phenomena, such as the covid pandemic, can have a big impact on global e-commerce figures.

For this very reason, staying a step ahead of what’s happening today is essential. And for this very purpose, various ways or marketing strategies have been put in place that businesses should learn to adopt.

So, isn’t it advisable for businesses to start working on their aspects concerning digitalization and incorporation of automated processes? Certainly, it is. And one of the primary tasks for them is to know what kind of marketing strategies will work for the digital marketplace and how to shape them.

4. Essential touchpoints prior to choosing a strategy

But prior to implementing any strategy, it is vital to explore various aspects of your digital marketplace that may lead you to prefer one marketing strategy over the other. These aspects help a business develop efficient market plan and strategy accordingly.

a. Explore the target audience

Making out a detailed profile of your customers and their needs and choices is in fact one of the most fundamental things to do. Once you are able to get a track of what do they buy more often, when do they prefer to buy, etc, you can easily draft strategies that will be in conformity with their needs and choices. such strategies are deemed to be highly relevant. The biggest merit of pursuing this approach is when you find customers’ needs evolving or changing, you can bring about a shift in your strategy too.

b. Do research of your competitors’ marketplace

Analyze and evaluate digital marketplaces that run in the same niche as yours. Go about searching for and identifying their products, pricing methods and prevalent marketing practices. This sort of a research helps outline your benefits as compared to your competitor’s marketplaces.

c. Highlight your USP

Expanded as unique selling proposition of a business, this feature makes it look unique. Find out the USP of your business, and show your customers what is special about your digital marketplace. By putting your best foot forward through USPs, the digital marketplace becomes an easy grab for the visitors.

d. Discover customer touchpoints

In this, when a customer visits your digital marketplace, his behaviour at various touchpoints is observed and evaluated. Herein, each touchpoint describes a customer’s actions and how your business responds to it. With the help of this, a business can optimize and personalize customers’ experiences in the light of its marketplace.

5. Marketing strategies for digital marketplace

a. Explore the target audience

Businesses wishful of succeeding in the competitive digital marketplace must learn how to stand out from the rest of the competitors in the industry. This differentiation may be in any product feature, speedy delivery mechanism or any other thing that enriches the overall customer experience. As a business, while pursuing differentiation, one should try finding answers to the following questions- What makes your brand distinctive and stand apart from the masses? Why should the potential customers choose you over and above other online marketplace players? What can your business offer to customers that rival businesses cannot?

b. Search engine optimization

Also, commonly known as SEO, this strategy helps your business’s website to rank higher on a search engine results page (SERP), thereby enabling more traffic. The fundamental goal of search engine marketing is to rank on the first page of google results for search terms that mean the most to a business’s target audience. But, how should a business go about shaping and implementing SEO and watch itself grow? Firstly, search and identify the relevant keywords with good search traffic potential. Then, learn to publish a high quality and extremely relevant content and one that has the ability to influence. Ensure that the content so published is optimized for search engines and for users. You may include links from trustworthy websites. Next, keep your content updated, in tandem with the modern demands and needs. Lastly, measure the results.

c. Invite referrals

Commonly known as a referral program, it is a system that incentivizes and provides rewards to customers when they recommend your offerings to their family, friends, relatives or anyone else in the social group. In other words, customers who make such referrals are generally considered loyal to the brand. In fact, they act as brand advocates, on behalf of the business. This is one fine way to reach out to an increasing number of customers, thereby attracting more traffic on your digital marketplace.

d. Content marketing

Using content as a tool to promote your marketplace and get noticed can be another effective way of discovering and coming clear of your indistinct identity as a business in the digital marketplace. Developing content like interesting blogs, insightful articles, videos or infographics can get the audience engaged and interested in your marketplace’s offerings. A spectacular example of content-based marketing strategy in point over here is that of Beardbrand campaign. They have a blog by the title of Urban Bearded Man that is strictly focussed upon bearded men. Aimed at all those men who take pride in caring for their beards, the blog offers a lot of insights about different aspects of beard care and everything related to it- from razor models to the optimal temperature of the towel that is applied to the fact after shaving. Such contents attract the target audience to the marketplace. As a result of good content, the Beardbrand’s website attracts hundreds and thousands of visitors every month.

e. Boost your social presence

Businesses in digital marketplace domains thrive better when they have an organic social presence. The benefits of social media can be availed only when businesses learn to use it to their advantage. Businesses can make sure that the social media channels and websites are stocked with vibrant images and engaging videos. The frequency of such posts should be high and rich visual content must be created so as to look appealing. Other ways to take advantage of social media is by hosting giveaways, associating with expert bloggers who are active in your niche and using appropriate hashtags.

f. Take part in online events and discussions

Discussions and debates across various online platforms have become quite commonplace. But businesses taking part in them is still not so. Therein, lies the opportunity for passionate and futuristic businesses. They can leverage their expertise by participating in virtual conferences or webinars to get the word out about their business.

6. Conclusion

There are plenty of marketing strategies to be employed in order to promote your online or digital marketplace; however which strategies a business should employ majorly depends upon the nature of the business, its objectives and goals that it has set for itself. A few of the below mentioned questions can help one figure out the appropriate strategy.

Are your customers wanting uniqueness in your products and offerings? If yes, are you capable of providing it to them? In this case, the differentiation strategy can work best.

Do you have a bunch of loyal customers who are expecting a bit more from you than what you provide to the new customers? Try inviting referrals and it may work wonders.

Does your audience want a good content in the form of insightful blogs so as to connect more with you? Content-based marketing strategy can see you through.

Does the audience for your products flock to specific social media platforms? If so, those platforms can be a good place to focus upon.

Is your main goal to reach new customers who haven’t heard of your brand and are unaware of your offerings? Search engine optimization (SEO) can show you a way out.

Lastly, and above all, is your business really desirous of adopting a successful marketing strategy for its digital marketplace? If yes, now is the time

Because, remember the words that occurred at the very beginning- “Technology has never placed such a great burden on businesses to reinvent their plans, strategies, services and products to keep pace with the changing marketplace.”

So, would you shy away from owning that burden and shouldering it responsibly as a business? All this, while you surreptitiously but firmly believe that it is nothing less than a blessing in disguise for you.

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How to scale your hyperlocal marketplace?

Post author By hyperzod
Post date October 27, 2022
No Comments on How to scale your hyperlocal marketplace?

Table of Content

1. introduction

2. Knowing The Basics Of A Hyperlocal Marketplace

3. What Is Meant By Hyperlocal Marketing?

4. Hyperlocal Marketplace: Knowing Step By How It Works

5. Factors That Have Contributed To The Growing Hyperlocal Culture

6. SWOT Strategy Into Action To Help Businesses Upscale

7. Hyperlocal Marketplace: Exploring The Scaling Possibilities & Future

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

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.

Read more about how to start a hyperlocal delivery marketplace

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.

Source: Allied Market Research

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

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

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

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-

Make yourself familiar with the internal and external environment of your hyperlocal business.
List your hyperlocal business’s strengths and weaknesses and its opportunities and threats.
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
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.
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

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.

Guides Latest Articles

What is Hyperlocal Ecommerce?

Post author By hyperzod
Post date October 12, 2022
No Comments on What is Hyperlocal Ecommerce?

Table of Content

1. introduction

2. Features of a hyperlocal ecommerce marketplace

3. Why is hyperlocal ecommerce marketplace becoming a furore?

4. Factors behind the rise of hyperlocal ecommerce

5. Increasing popularity of hyperlocal ecommerce

6. Benefits of hyperlocal ecommerce

7. How to go hyperlocal?

8. Future of 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 geographical 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

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?

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

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

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.

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

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

Read more about how to start a hyperlocal delivery marketplace

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.

Pharmacy

Accessory

Clothing

Beverages

Bouquets

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!’

Guides Latest Articles

How to choose the best hyperlocal eCommerce software

Post author By hyperzod
Post date October 6, 2022
No Comments on 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.

Table of Content

1. introduction

2. About hyperlocal e-commerce

3. Benefits associated with hyperlocal e-commerce

4. Features of a good hyperlocal eCommerce software

5. Factors to keep in mind while choosing the software

6. Why to invest in a hyperlocal eCommerce software

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

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

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

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

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

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?

Grow Your Sales Guides Latest Articles

How an online ordering system can drive new sales and improve your profit?

Post author By hyperzod
Post date August 23, 2022
No Comments on How an online ordering system can drive new sales and improve your profit?

Table of Content

1. Background About The Changing Business Landscape

2. Knowing About The Online System And Learning About SAAS

3. Knowing The Statistics Of Online Ordering Systems

4. Benefits Of An Online Ordering System Or SAAS For A Business

5. Can Your Business Avail The Above-Mention Benefits?

Table of Content

1. Background About The Changing Business Landscape

2. Knowing About The Online System And Learning About SAAS

3. Knowing The Statistics Of Online Ordering Systems

4. Benefits Of An Online Ordering System Or SAAS For A Business

5. Can Your Business Avail The Above-Mention Benefits?

1. Background about the changing business landscape

The business landscape has changed significantly in the previous few years. Technology is taking over a lot of elements of a business. In fact, the evolution in technology is turning out to be a great way for business owners and modern-day entrepreneurs to manage and maneuver an increasingly complex business landscape.

As a result of such phenomenal growth, ways of conducting a business have evolved significantly. A prime example of this is the shift in the way consumers have started to buy products; and so have the businesses changed their processes of selling and luring customers into buying it. As and buy consumers have eagerly started to push for more online buying and ordering experiences, so are businesses coming up with distinguished online ordering systems and newer ways of satisfying their needs.

“In the words of Bill Gates- ‘Information technology and business are becoming inextricably interwoven. I don’t think anybody can talk meaningfully about one without talking about the other.”

Widespread demand and availability of on-demand delivery services, increasing number of consumers going digital and chunk of businesses getting their processes automated, all, in part or whole, have contributed substantially to the growth in online ordering systems across the globe. Through this, not just customers are benefitted and their needs met, but the fact cannot be denied that businesses too are having a good time dealing with online ordering systems.

2. Knowing about the online system and learning about SAAS

An online ordering system helps a business drive new sales and improve its profit. But there is a lot of hard work involved. Easy as it may apparently sound, challenging it is to build sales and generate profits in an industry which is highly competitive and shows frequent signs of intense rivalry. Having said this, we cannot make an exception in the case of online food ordering industry.

With consumers worldwide wanting convenience of the next level, businesses having online ordering processes appear to be going a long way in the competitive run.

With the coming into being of online ordering management systems and businesses preferring to use SaaS (software as a service) more often than not, technology has made things easier for food businesses and restaurant owners. Food businesses which were capable of cooking and offering sumptuous delicacies but somehow, for one reason or the other, lacked on the serving part of it, have too, found a great business ally in companies offering SaaS, dealing with online ordering system and providing online ordering services.

“The way to a person’s heart is through his stomach, and your food business can ‘reach’ a thousand hearts through a restaurant delivery software. For this, you can have any food delivery software of your choice. But, for your business to not just ‘reach’ but ‘touch’ and ‘dwell’ in their hearts, hyperzod’s unparalleled online restaurant delivery software can be all that you could ask for.”

3. Knowing the existing statistics and figures characteristic of online ordering systems

Due to massive surge in online ordering systems around the globe, several food businesses and restaurants are now willing to spend almost 70% to 80% of their budget to set an efficient online food ordering system to drive up their sales and improve subsequent profits.

But on the contrary, there have been businesses who are struggling to keep up with the changing pace of ordering trend and associated business processes. For instance, as per an article published in January 2020, Kraft Heinz, an American food company’s market cap has fallen by around 50 percent over the past twelve months, and the company’s inability to keep pace with changing consumer tastes is largely to blame.

A survey of over 200 major companies revealed that Kraft Heinz is not the only one to suffer. While a majority of firms believe that they are “picking up on signals of change” that might disrupt their usual line of business, fewer than half (around 42%) admitted that they are “unable to act on those signals.”

In the words of John Chambers, chairman of Cisco, “At least 40 percent of all businesses will die in the next 10 years, if they do not figure out how to change their entire company to accommodate new technologies.”

So, which side would you want your business to be on; the evolving businesses who are willing to spend and allocate resources to online ordering systems or the ones which are unable to respond to changing signals and adapt?

Industry understanding and business prudence says you stick with the former case. Below are a few statistics and data that narrate the entire story about the whopping growth of online ordering system over the previous few years.

The NPD Group through one of its analysis reported that delivery and drive-through orders had taken hold, making carrying out the less convenient service mode.

From February 2020 to February 2022, digital and non-digital carry out restaurant orders declined by 2%, while delivery increased by humongous 116% and drive-through orders grew by 20%. Digital ordering grew by a banging 117% in two years and contributed to the delivery and drive-through growth.

As per another data from NPD, the number of restaurant visits reserved and paid via smartphone in the United States (US) increased by 50% from the year 2017 to 2018.

By possessing a food ordering and delivery application, businesses can reach new sets of customers and thereby process greater number of orders. Starbucks is a proof of that. Their Mobile and Pay app is largely responsible for 13% of annual U.S transactions, thereby driving a major part of its revenues and profits.

But in order for businesses to successfully capture and dominate the online ordering and delivery market, they ought to know their target market. A deeper understanding of their target audience and their needs and choices helps businesses cater more comprehensively and flexibly, in such evolving times.

A complete demographic profile and a track of changing behavioral habits of the target audience, aids businesses define the style of their marketing activities and also further helps to develop the right functionality.

For instance, the following data of different country markets can serve as a big basis for businesses to chalk out a neat plan and a well-drafted strategy pertaining to online ordering system and delivery.

Companies by working to create a personalized and an interactive user experience, can draw inwards a lot of customers.

Similarly, China with a banging global user penetration rate of roughly 34.2%- almost one third of its humongous population, actively uses online delivery services. This overwhelming figure of the Chinese market is followed by country markets of Netherlands, UK, US and Canada in the same order, thereby putting in front seamless scaling opportunities for global online food ordering and delivery companies.

In fact, so massive is the scale of possibilities for businesses that online ordering systems and applications have lately proved to be a boon for businesses and are largely benefitting. It relieves the business of many commitments and obligations and saves time for other important activities. An efficient online ordering system and a consummate online delivery app owned by a futuristic company will surely provide your business, chances a plenty.

A far-sighted online ordering and delivery company also ensures that it just does not limits itself to satisfying the basic needs and preferences of users, but, acknowledging the super quick growth of competition and rivalry among businesses, it also works hard to disrupt the market with its rapid-fire innovative technologies.

All in all, a good food management and online ordering system learns quickly and more often the newer ways of optimizing business related activities.

4. Benefits of an online ordering system or SAAS for a business

Let us read on and find out the array of benefits of an online ordering system or SaaS (software as a service) for a business. These benefits are, perhaps, the major reasons as to how online ordering system or SaaS enables businesses in improving their sales and generating profits.

a. Ease of use

When businesses use software as a service for the purpose of taking orders and ensuring deliveries, they have somehow already incorporated a system which has neatly and brilliantly baked-in practices. This results in great ease of use and it further helps in bringing a greater number of users and possibility of new sales for the business.

b. Enables businesses to offer a customer-oriented platform

A good online ordering system cum app makes it a point that its customers are dearly valued and their need and preferences are successfully met. An online food ordering management system cum app should be so developed that it is easier for its users to skim through effortlessly and order things of their liking from the comfort of their homes. If the platform is customer oriented, it goes without saying that it will produce happy and satisfied customers which would further lead to increase in sales and profits for the business.

c. Enables utmost convenience

By providing an online ordering app for all the needs of a business, software companies silently provide great convenience to the customers. A user, if offered convenience through such apps, ends up looking for the same platform time and again, as and when the need to order arises.

d. Increased customer interaction

Online ordering and delivery systems make great allowance for customers to directly interact with the restaurant or food joint and demand things of their choice. The restaurant/food joint then easily and quickly learns as to which meals are the most sought after in their menu and which one is the least ordered. The result of this is it gives a valuable insight on what the customers are preferring more and getting inclined towards and what they are liking less or disliking about their products and offerings. This sort of customer interaction and engagement is vital in today’s competitive era for drawing in more customers, increasing the sales figures, building brand loyalty and in improving the customer base of the restaurant so concerned.

e. Well monitored sales data

In comparison to traditional brick and mortar stores or an in-store delivery system, an online food ordering system helps businesses save a lot of money by offering customers the freedom and convenience to choose online, and then get it delivered to their doorsteps. A similar offline or a physical setup could cost many a business their fortune.

f. Saves a lot of monetary resource

g. Greater scalability

An online ordering app offers businesses numerous possibilities. These possibilities if taken care of well, undoubtedly enables businesses to scale up their level of operations. Since such apps are in great demand, they bear a likelihood of having an increased visibility. This increased visibility leads to greater scalability for the business in the form of better sales and increased profits.

h. Timely upgrades

By enabling software as a service (SaaS) for a business, the provider upgrades, as and when due, the online ordering system and it becomes available to their customers. Such a feature keeps the customers updated and businesses upfront. Due to such frequent and timely upgrades, customers worldwide are more in awe of such apps thereby increasing the likelihood of generating new sales and subsequent profits for the business.

5. Can your business Avail the above-mention benefits to its advantage?

Having put forth some of the likely merits of an online food ordering system, it should be kept in mind that such systems offer a plethora of benefits to the business, regardless of its size or customer base.

Rather, a great online ordering system would let no opportunity pass over. By virtue of its competitive and continuously evolving character, it will surely work upon increasing the customer base of its partnering business and its subsequent size.

From having an online presence to staying on top of your sales and profits and to leading the industry, there are a number of ways to enrich your business and improve your profits via an online ordering system or the so-called online food ordering system.

Does Hyperzod supports Stripe and PayPal?

Yes, Hyperzod is integrated with Stripe, Paypal and several other payment gateways from around the world.

Does Hyperzod supports Stuart as third party delivery party?

Yes, Hyperzod is integrated with Stuarts as third party delivery.

Can I run loyalty program using Hyperzod?

Yes, with Hyperzod you can easily run loyalty program.

Business Ideas Guides Latest Articles

How to launch your online restaurant delivery business with hyperzod?

Post author By hyperzod
Post date July 19, 2022
No Comments on How to launch your online restaurant delivery business with hyperzod?

Businesses and consumers, everywhere alike, have changed a lot. Speedy technological advancements, growing digitization and galloping smartphone penetration among global consumers are some of the many probable reasons that have uprooted the traditional business practices and methods, and changed the business game altogether. To this disruption, the restaurant industry can be considered no exception.

We are living in an age where everything is getting done online, including ordering food for eating. In point of fact, it is the next big thing nowadays. There are numerous reasons for consumers worldwide opting for home delivery options, of which ‘comfort and convenience’ seem to be the most overriding one.

Table of Content

1. the growth of online restaurant delivery business

2. Knowing The Food Industry Through The Lens Of Technology

3. Partnering With Hyperzod

4. Industry Figures: Understanding The Statistics

5. Your Business And Hyperzod: Better Good Together

6. About Hyperzod

7. Characteristics Of A Hyperlocal Delivery Management Software

8. Why Hyperzod?

Table of Content

1. the growth of online restaurant delivery business

2. Knowing The Food Industry Through The Lens Of Technology

3. Partnering With Hyperzod

4. Industry Figures: Understanding The Statistics

5. Your Business And Hyperzod: Better Good Together

6. About Hyperzod

7. Characteristics Of A Hyperlocal Delivery Management Software

8. Why Hyperzod?

1. Getting familiar with the growth of online restaurant delivery business

If you find the following statement to be reasonable and are capable of attaching your faith to it, this blog is for you.

Such is the pace of competition and changing restaurant business landscape that, what worked for you pretty well yesterday, cannot guarantee you success tomorrow. This makes continuous evolution of businesses mandatory. Lazy businesses stagnate easily and die sooner than later.

The popularity of online food ordering is undeniably on a meteoric rise. The restaurant business is turning out to be a very difficult space to operate in. It requires a lot of human beings to intersect at just the right place to make it all work out. With each passing day, businesses are bidding adieu to rudimentary business practices and methods, and so should you. A variety of food items to offer, dishes to relish and a consummate online ordering and delivery software so as to provide your business- ‘the right platform’, and consumers- ‘a pleasant experience’ can work wonders for you.

Your need to evolve as a business becomes all the more important if you own a restaurant or a food business, because customers often like experimenting with new dishes on the menu and you ought to learn about them in order to make them available. Perhaps, that’s how you make your ‘services through products’ a gratifying or pleasant experience for your customers. And that’s how you evolve and compete.

2. Knowing the food industry through the lens of technology

With the ever-changing technology and trends in the food industry, your business will need to evolve and innovate continuously, whether it is in terms of adopting a drone delivery method or using three-dimensional food images, etc.

What is better than a sumptuous dish that you don’t have to cook yourself and gets delivered to your place at a reasonable price?

If you also think along the above-mentioned lines and find nothing better than that, it is time your business join hands with an online restaurant delivery software company offering you a solid restaurant delivery software. As much as customers nowadays are seeking “convenience” when it comes to ordering online food from restaurants and food joints, so must your business roll up the sleeves to provide them with the requisite “convenience” through smooth delivery of such products thereby creating an enriching user experience.

3. Partnering with hyperzod: learning to Leverage Business efficiency

“Because it is the experience that lasts, when everything else fades.”

So, which software is going to provide your customers with the right amount of convenience and enriching experience they seek, and affordability and reliability competing businesses require?

Without sparing a fraction of thought for any other alternative, it is vouched that hyperzod’s online restaurant delivery software can be a dream addition to your business. Without sounding unnecessarily proud about it, we would say at the least, that it can change the game for your business for good.

If you have it in you to put trust in us, we have the entire paraphernalia to make things happen for you.

So robust and all-encompassing is its restaurant delivery software, that it does all the chores for your business so that you are left with valuable time for other important business-related works.

“Automate and delegate your systems so that you can work ‘on’ your business, not just ‘in’ your business.”

But before we make you aware of the journey of hyperzod and why it may be the best and most viable option for your business, it is imperative to know the statistics and numbers of the growing restaurant industry.

4. industry figures: Understanding the Statistics

It is between the years 2018-2023 that online food delivery start up businesses are projected to grow at more than three times the rate of brick-and-mortar restaurant sales.
As far as United States’ market is concerned, more than half of the consumers order food directly from various online food ordering apps and websites.
60% of U.S. consumers order delivery or takeout once a week.
31% of consumers say they use these third-party delivery services at least twice a week.
34% of consumers spend at least $50 per order when ordering food online.
20% of consumers say they spend more on off-premise orders compared to a regular dine-in experience.
Digital ordering and delivery have grown 300% faster than dine-in traffic since 2014.
57% of millennials say that they have restaurant food delivered so they can watch movies and TV shows at home.
59% of restaurant orders from millennials are takeout or delivery.
33% of consumers say they would be willing to pay a higher fee for faster delivery service.
87% of Americans who use third-party food delivery services agree that it makes their lives easier.
45% of consumers say that offering mobile ordering or loyalty programs would encourage them to use online ordering services more often.
63% of consumers agree that it is more convenient to get delivery than dining out with a family.
Americans who have not used a third-party restaurant delivery service say fast delivery (31%), restaurant selection (28%), low order minimums (27%) and first-use coupons (26%) would motivate them to try it.
60% of restaurant operators say that offering delivery has generated incremental sales.
It was predicted that orders placed via smartphone and mobile apps will become a $38 billion industry by 2020.
Pizza chains reported an 18% increase in customer spending from online/mobile orders vs. phone orders.
Working with a third-party delivery service has been found to raise restaurant sales volume from 10% to 20%.
Delivery sales could rise on an annual average of more than 20% worldwide by 2030, from $35 billion.
Customers who place an online order with a restaurant will visit that restaurant 67% more frequently than those who don’t.
Visits to U.S. restaurants where guests paid by mobile app increased by 50% from 2017-18.
70% of U.S consumers use their mobile devices to interact with fast-casual restaurants.

5. Your Business and hyperzod: better good together

“Food is the ingredient that binds us together. You get it prepared; we get it delivered.”

What wisdom is in the adage- Well begun is half done? A lot, perhaps. The start of a project tells the story to arrive of a business to flourish. Your restaurant too can become a success and one of the most talked about business only if it aligns its goals passionately and if it associates itself with the right people who work in the back end on its behalf 24*7.

We at hyperzod help you deal with great people to work with and provide ample reasons to scale up your business. With delicious food items on your business’s menu, waiting to reach the doorsteps of the customers, you can step up your game by partnering with us. We, through various ways, best known to our business partners, enable restaurants and food joints to come upfront in the competitive market space, establish themselves and make the most of our online restaurant delivery software’s widespread presence. Perhaps, that’s what leading global businesses are doing these days.

Sign up to today to start
your free trial

6. about hyperzod

Hyperzod is built on top of a reputed food delivery company. This company had the advantage of being a ‘pioneer firm’ since the existing food delivery platforms were either dormant or had ceased their operations in the city a few years back. Owing to its constantly performing and evolving restaurant delivery software, the company has grown manifolds despite competition from other billion-dollar companies such as Swiggy, Zomato or UberEats.

Hyperzod as a company has had its share of entrepreneurial hardships so that businesses partnering with it do not have to undergo the trials, businesses usually undergo. So, if you too have saw us growing online or heard our name as one of the most futuristic food delivery software companies, there is a lot of time and resources committed and immeasurable hard work involved. As Rome wasn’t built in a day, so wasn’t hyperzod.

We continuously try and stay ahead of other businesses because we rely heavily on our research and development processes and smart delivery system. Our continuing emphasis on innovation and automation, and our ability to anticipate the market trend prepares your business for unseen circumstances beforehand. As a result, the going for your business which could have been nothing less than a nightmare, is easily taken care of, by us.

7. Characteristics of a hyperlocal delivery Management software

Following are the distinguished features our hyperlocal delivery management software cum online restaurant delivery software has to offer to restaurants-

Centralized management

This feature helps restaurants oversee and manage all business-related operations centrally.

Menu customization

A dedicated merchant panel enables the restaurateur to make amendments of his liking in the menu he wants his customers to see. This feature makes the business more prominent in the online marketspace and its products are easily chosen by customers over others’.

Real time notifications

These notifications keep the restaurateurs posted with the minutest of details. We call it order notifications. Moreover, it also empowers customers with real time ordering and delivery alerts.

Hassle free online ordering

Hyperzod’s product delivery software is so built that it always provides a simplified and seamless experience to its users. The hassle-free operations help the users make the most of their website visit. The whole process right from arranging the product items on the website to getting it delivered to customers’ doorsteps is so well organized and naturally flowing that online ordering becomes a delightful experience.

Detailed sales reports

Hyperzod’s platform is a system that likes and facilitates detailing in the business. It actively believes in the philosophy of ‘more the details, better the decision making’. Our online restaurant delivery software provides restaurateurs with strong analytics and across the board statistics and data so as to help make informed decision making thereby providing feasible restaurant delivery solutions. This feature enables restaurant businesses to make out the buying pattern of consumers which leads to them serving and satisfying their needs with even greater care.

Single/multi-vendor support

Growth knows no bounds. If you are a growing business wanting to diversify, our software provides you the flexibility to do so. This feature helps you to move your business from being a single vendor to multi-vendor one. Our online restaurant delivery software through this feature offers great scalability options for businesses seeking growth.

Live order tracking

This feature helps your customers keep a follow up of their orders resulting in their increased satisfaction. Since customers can track their orders live and remain less bothered about it, the time that is saved through this feature can be spent by them in looking for ordering other delectable items on the restaurant’s menu. This smoothens the entire process and facilitates sales.

Making online payments easy

Introducing a payment system that accepts money through a number of ways makes the entire online payment machinery more efficient and independent so that no hinderance is faced while accepting payments. Hyperzod’s partners for accepting online payments are highly efficient. As a result, they do not face unnecessary lags or payment errors from time to time.

8. Why hyperzod?

KNOW THE REASONS TO PARTNER WITH US

Joining hands with us has become quite synonymous to succeeding for businesses that have nowhere to go or for businesses who nobody owns. We are the caretakers of our client businesses, and our software has the concern of a guardian for them.

Where on one hand, our online restaurant delivery software is the aptest destination for steadily moving businesses to go booming all the way, on the other hand, its app is the most sensational and sought-after thing for ailing/inactive food businesses.

Industry statistics have proved that businesses which have grown vigorously over the last couple of years are the ones which have successfully partnered with online restaurant delivery software companies, one of which is hyperzod.

We at hyperzod are resolute about the use of incumbent technology in our processes and firmly and passionately believe in the saying that- ‘The best technology is aimed far enough in the future that it stands out, but close enough to the present that it blends in.’ This is what makes hyperzod what it is today. Keenly working in the present while not losing focus of the possible future prospects for a business says a lot about our company philosophy and the values that we hold close to our heart.

The automated processes that we incorporate are top notch and leave absolutely no room for other software companies to outcompete us on that. Our business is future oriented to the extent that every part of our business changes based on what we consider predictive analytics of the future.

Or, joining hands with us, would you shy away from accepting that yours is a restaurant/food joint that convincingly satisfies the present needs of the customers and is yet completely prepared for the future in order to meet their evolving needs and choices?

To get your restaurant or food business launched, you can get in touch with us because we love to hear from our clients and provide solutions to their business queries. You can schedule a demo with one of our experts for a sample of what all hyperzod can do for you. Get in touch with us on WhatsApp or Gmail, for the choice is all yours to make.

How quickly can Hyperzod set up my business online?

You can start your business instantly with our online restaurant delivery software.*

Note:You need to provide us with an App Store and Play Store account to publish the apps

Can Hyperzod be used to setup an online marketplace?

Yes, our online restaurant delivery software can be used to setup an online marketplace.

Can drivers be assigned automatically?

Yes, our online restaurant delivery software provides auto assignment of drivers via Autozod to deliver food to your customers.

What happens when my free trial ends?

We provide a 7 days free trial. Once the trial ends, you can sign up with us to launch your business with our online restaurant delivery software.

Can I opt out before my free trial ends?

Yes, you have full freedom to opt out before the free trial ends.

Have more questions? Ask your question here

Guides Latest Articles

Effectively choose the right software for online restaurant delivery business

Post author By hyperzod
Post date June 20, 2022
No Comments on Effectively choose the right software for online restaurant delivery business

“If your business is not on the internet, then your business will be out of business.”

- Bill Gates

The restaurant industry over the last decade or so has witnessed a major change in the way its processes are carried out. It is a constantly evolving playing field. Business practices that used to be prevalent at one point in time are becoming phased out at a pace quicker than ever, in favour of faster and more efficient ways of operation.

So, what has led to such a transformation? What resulted in the shifting of offline practices to online ones?

Indeed, it is the rising pace of competition and the industries becoming more and more internet-dependent and technology savvy. Had there been no internet services penetration and such a high mobile and laptop adoption rate among global consumers, the competition across industries would have been way less than it is today.

But, as a matter of fact, the times have changed drastically. The world business is getting majorly dominated by internet services and the disruptive technologies that come up every day. There is absolutely no denying the fact that technology and business are getting inextricably interwoven with each other.

So, behaving as futuristic businesses do, would you not want yourself to be included in the list of those businesses who, owing to their disruptive technological methods and practices and their rapid adoption, give their industry-leading businesses a serious run for their money?

Businesses having a keen eye for technological details, ought not to forget that-

Once a new technology rolls over, if you are not part of the steamroller, you are part of the road.

Thus, going with the flow and catching up with the technological standards that the restaurant industry is racing towards, it becomes binding on us businesses to partake equally in it, so that the industry continues to flourish and the likes of us businesses, get to make profits out of it.

As is technology-business interweaving, so is the technology-software link. If businesses adopt a particular technology, that they must be dealing with software too becomes obvious.

But only a few businesses know that their software capabilities may be a reason either for their roaring success or a hapless failure.

When you are dealing with software, you are not just dealing with the merits that come along with it. Instead, you are dealing with a set of challenges too.

And an IT-enabled restaurant business pretty well knows that the challenges may come in lot many ways viz software incapability, untimely bottlenecks or lags during operations, etc.

The more efficient and easier to operate the software is, the minimal is the ill-timed hindrances and thus lesser are its challenges.

So, all the budding restaurant businesses in need of reliable and robust software, must first know what is online food delivery/ restaurant delivery software and what functions is it supposed to perform?

Table of Content

1. Online food delivery software: Knowing the score

1. Functions of a food/ hyperlocal delivery software.

2. Learning about the trends and statistics

3. The future of online food delivery business

4. Getting your food business software ready

Table of Content

1. Online food delivery software: Knowing the score

1. Functions of a food/ hyperlocal delivery software.

2. Learning about the trends and statistics

3. The future of online food delivery business

4. Getting your food business software ready

1. Online food delivery software: Knowing the score

Food delivery software or an online restaurant delivery software can be defined as a tool or a set of programs or procedures associated with the operation of a computer system that enables food delivery businesses, such as restaurants, cafes, etc. streamline their order delivery mechanism.

1.1 Functions of a food/ hyperlocal delivery software.

It automates food delivery processes viz a viz receiving customer orders, processing order payments and assigning orders to respective delivery personnel.
It enables businesses to showcase their food menu online.
It also helps in receiving orders from business websites and mobile applications.
The software moreover, records and analyzes all order delivery data for processing and reporting.

Note- Before choosing software for your business, it should be remembered that a good hyperlocal delivery software offers valuable functional and operational insights to help online restaurant delivery companies make informed business decisions.

Moreover, rushing into buying a hyperlocal restaurant delivery software or an application for your business would do more damage than good.

It is important to stay careful and ensure that the food delivery software you intend to buy is capable enough to provide your business few of the following sets of benefits and features.

Increased customer reach: A good software allows businesses in the food industry to accept online orders via business websites and mobile applications. This empowers customers to order more food online from various restaurants or food joints of their liking.
Customer-friendly: A good restaurant delivery software offers great flexibility to the customers. With easy access to the online available food menu and the freedom to customize their meals, it offers something to customers to be glad about and feels important. This results in customers accessing the website even more.
Offers great flexibility to businesses: A futuristic software allows heedful businesses to change or update food menu items and prices at their whim. Not just this, but it also enables them to add images of delectable food items or other relevant business-boosting add-ons on the website.
Easy online ordering: A good food delivery software always provides a simplified application/ website experience to its users. The whole process right from arranging the food menu items on the website to getting it delivered to customers’ doorsteps is so smooth and well organized that ordering online becomes an experience to be savoured.
Easy track of the delivery: A performing restaurant delivery software is so comprehensively developed that tracking your orders is as easy as one-two-three.
Optimized route management: Often, good software will find out the shortest route available for food delivery thereby providing your business with more time for other things, while doing a timely delivery for the customers. An efficient software also considers real-time road traffic situations and also re-routes drivers suggesting the quickest way to reach the customers.
Integration: The restaurant delivery software you wish to buy must integrate well with the existing business applications. The better the integration, the more managed are the customer orders and inventory, etc.
Mobile application: If you are able to get a mobile application for your business, the software company may offer you a menu that is optimized for mobiles, manages orders and provides delivery order updates in real-time, live location tracking of the delivery person, etc.
Support services: The nature of support services your software provider gives help you get started with the software and deal with associated technicalities that come along with it. Further, it helps resolve any technical issues or lags your business may face later during operations.
Free from system error: An efficient and robust software will be less prone to system errors and software crashes.
Multiple payment options: It should offer the facility of paying through multiple payment gateways to help ease making transactions.

2. Learning about the trends and statistics behind the phenomenal rise in food delivery services

Small facts lead to great knowing and knowing is all a futuristic business would want

The pandemic of covid has constituted one of the major reasons as to why people have chosen to go for online deliveries, lately. And it has been learnt that strategically-agile restaurants have quickly picked up on this trend. According to software advice, the search for food delivery software has increased 179% on their website between the months of February and March 2020. The pandemic has already pushed the food delivery industry a few years into the future, as the number of consumers ordering online food grew by a whopping extent during covid times. One of the leading grocery delivery service companies, Instacart, asserted that it obtained its first monthly profit in April 2020, netting $ 10 million, and its CEO said that it had passed its year 2022 goals. Instacart added 300,000 more ‘shoppers’, riders responsible for picking up and delivery groceries, in the first half of 2020. At the end of 2019, it employed less than 100,000 people. It hired around 350,000 people more in 2020, with $35 billion in grocery sales.

Sources: Statista

So, the reading on the wall is clear. The food delivery/ restaurant delivery industry is witnessing a similar surge in online orders through applications and software.

And guess what is the reason for them preferring to order food online so often? Convenience, of course.

Having a restaurant meal delivered at your home is above everything else, convenient. In fact, convenience is actually one of the nine secondary human needs that they acquire during their lifetime.

“Scientists back up the fact that ‘convenience,’ amongst all, is the most convenient factor influencing food industry statistics.”

In fact, the principal of Technomic- prominent research and consulting firm, and a leader in food service consumer tracking has this to say about consumers’ level of seeking convenience-

“It’s a lot of people who do not want to go out to a restaurant for the occasion. We hear from drivers how often people answer the door in their pyjamas”.

Another report on digital food ordering statistics conducted by UBS goes on to state that-

“Online ordering has started to become the norm, thanks to the convenience, accuracy and ability to integrate payments. At scale, ubiquitous on-demand and subscription delivery of prepared food could potentially spell the end of cooking at home.”

So, how braced up is your business with the right software so as to provide that requisite convenience customers have habitually started to look for?

Or to put it across directly,

How do you plan to conveniently feed and satisfy a growing ‘generation C’ population?

Note- Generation C consumers are ‘digital natives’ who have integrated technology and allied aspects into their everyday lives so much so that they turn to the internet instinctively and extensively to do any number of things.

The below provided data and statistics gives us a deeper insight into online food ordering trends and restaurant delivery statistics. In one of the articles on growing trends of online food delivery published in January 2022, it was reported that

Since 2014, digital ordering and delivery has grown 300% faster than dine-in traffic

In the similar article, increasing number of figures were reported on

How frequently do people order food for delivery?
1. 60% of U.S consumers order delivery or take out once a week
2. 86% of consumers are using delivery services at least once per month
3. 51% use delivery services to purchase meals from casual dining restaurants”

How much are people willing to pay for food delivery?
1. 34% of consumers spend at least $50 per order when ordering food online. On average a person spends around $16-30 in a full-service restaurant.
2. 20% of consumers say they spend more on off-premise orders compared to a regular dine-in experience.

3. The future of online food delivery business

With what is obvious from the above-mentioned data and statistics, is the fact that online restaurant delivery business is galloping at a pace much rapid than ever. A study reveals that-

31% of restaurateurs said they planned to keep investing in online food delivery, suggesting the fact they think that the demand for this restaurant delivery will stick around even after the covid pandemic.

Whereas,

Another data revealed that online food delivery will translate roughly to 40% of a restaurant’s total sales, by the end of the year 2025.

The data in the tables and bar graphs below is a thing to watch out for. What it predicts for the upcoming years is something that strategically watchful businesses will be in dire need of.

Sources: Research & Markets. IMARC Group

YEAR	PROJECTED FOOD DELIVERY REVENUE IN US
2021	$28 billion
2022	$30 billion
2023	$33 billion
2024	$37 billion
2025	$42 billion

Global projected food delivery app value

Sources: CB Insights, Research & Markets

YEAR	GLOBAL FOOD DELIVERY PROJECTED VALUE
2020	$100 billion
2021	$120 billion
2022	$140 billion
2023	$165 billion
2024	$200 billion
2025	$230 billion
2026	$265 billion
2027	$300 billion

Such data in highly characteristic of a galloping food market. And if statistics are anything to go by, the global food delivery app market and the associated delivery services are going to take the world away by storm. In fact, these statistics reveal a powerful truth- the food delivery trends are here to stay.

So, given the fact that the momentum of online food delivery services is shifting at an unprecedented pace-

Would you want your restaurant delivery business or online food business to move along with the flow of the storm or risk going against it?

There is a lot at stake if you stick with the latter case. As for the former case, read on to get the right software for your food business.

4. Making the most of this growing trend: Getting your food business software ready

Statistics and numbers are no good unless you have good people to analyze and then interpret their meaning and importance

As the number of people using the internet to order food grows, consumers worldwide continue to adapt to such changes thereby contributing to increased statistics. This makes way for the fact that online restaurants and food joints must brace up and reinvent newer ways of finding a place in this growing online marketplace, one of which is building a robust and efficient digital presence.

To enable this, companies have to have software that does all the hard work for them. Our software is one such product that is trustworthy, sturdy & strong in form and constitution and highly efficient because it has been made with due diligence, care and foresight.

So, will you not want software that gives your business a set-up which is sophisticated and beneficial?
Would you not want economical software that offers your business convenience, reliability, and hassle-free doorstep delivery solutions?

Or would you think twice about buying software that is evolving with the pace of changing consumer needs?

I would rather say you log in to our website once, go to the ‘contact us section and schedule a demo with one of our experts and see for yourself what hyperzod can do for your business.

We literally mean a business that satisfies hyperlocal needs. If you are game for it, we will help you score.

Guides Latest Articles

How to Start a Hyperlocal Delivery Marketplace

Post author By hyperzod
Post date June 15, 2022
No Comments on How to Start a Hyperlocal Delivery Marketplace

“Companies that invest more in digital transformation actually outperform their peers over time. These companies are more prepared for disruption, better able to monetize new digital channels, and better able to build a bigger user base. What’s more, this phenomenon exists regardless of industry.”

- Geoff Cubitt

Have you ever spared a thought over the term ‘hyperlocal’ business? Or have you ever really wondered what it means? If not yet, hurry thinking about it, because the concept of a hyperlocal delivery marketplace is a thing that is here to stay.

On the other hand, if you have thought of going online previously, but have somehow time and again, or for some casual reasons refrained from putting that idea into practice, this blog is for you.

In fact, this blog in particular may interest all those foresightful concerns, who desperately want to make their business go online over a hyperlocal delivery marketplace but yet they are missing one of the most fundamental elements to do it. Voila! A hyperlocal delivery software or application for all hyperlocal needs.

Only those who will risk going too far can possibly find out how far one can go.

What if I ask you to think about an aspect of online shopping/buying on Amazon or Myntra which pleases you the most?

It is perhaps the fact that you don’t have to care about the individual brands in there. Right? You can, by virtue of your free consumer discretion, select the product or merchandise of your choice based on the reviews, ratings, price, etc. provided therein.

A hyperlocal delivery marketplace similarly 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 business is essentially the one which is ‘something less than local.’ In other words, it is a small geographical area or a locality with a really specific demography. A striking feature of a hyperlocal delivery business model is that the entire supply chain is located pretty close to the seller as well as the buyer.

Table of Content

1. Growing hyperlocal delivery business

2. Going hyperlocal: Acting too locally, but serving globally

3. Things to take care of before launching your business on a hyperlocal platform

4. Getting launched: Will your hyperlocal delivery software help you hit a home run?

Growing hyperlocal delivery business: Exploring the ‘bandwagon effect’

Since businesses cater to specialized geographical areas, a good hyperlocal delivery system facilitates extremely swift delivery of goods from the point of origin to the point of destination within a much shorter duration of time. This is one of the most striking merits of an efficient hyperlocal delivery system. The need for such a delivery system was felt worldwide when the covid pandemic hit us all and packed us back in our homes.

Though the idea of a hyperlocal marketplace already existed, its prevalence just grew manifolds during the pandemic. Few of the many reasons for its profound growth are- Hyperlocal Delivery Marketplace

Contact less delivery
Zero contact and effortless buying and payment options
Growing demand of essentials/commodities to be delivered swiftly at the customers’ doorsteps
Saves time and makes buying hassle free
Wide array of products to choose from
Offers great dynamism to the consumers
Less shipping and transportation costs
An effective platform for vendors to get noticed

Given the inherent prompt delivery nature of a hyperlocal business, these have become one of the most sought after go-to options for consumers worldwide.

The industry statistics are indeed overwhelming and leave a lot for prudent businesses to further explore the e-commerce hyperlocal industry and start making gains for themselves before it gets too late and the competition gets really intensified.

The following report on the growth of hyperlocal services market is a thing to be keenly observed and promptly taken note of.

On the basis of type, it has been segmented into food ordering, grocery ordering, home utility service, logistic service providers, and others. On the basis of nature, it is classified into goods delivery and utility services.

Region-wise, the market was analyzed across North America (United States, Canada and Mexico), Europe (Germany, Russia, France, the UK, Italy, and Spain among others), Asia Pacific region (India, China, Japan, Australia, South Korea, and rest of Asia Pacific), and LAMEA (The Latin America, Middle East and Africa).

According to hyperlocal services market analysis, on the basis of type, as can be seen in the above depiction, the home utility service segment accounted for the maximum share in the global market in 2019, and is expected to continue throughout the hyperlocal services market forecast period.

Similarly on the basis of nature, as can be seen in the line chart below, the goods delivery segment viz a viz food items, grocery, medicine and furniture, etc. was valued at around $608 billion in the year 2019 and is expected to grow up to a banging $2048.8 billion by the year 2027, with a compound annual growth rate (CAGR) of 20.7%. Hyperlocal Delivery Marketplace

So, as a capable yet curious business wanting to go hyperlocal, wouldn’t you think as to what has led to the whopping rise of such figures in the hyperlocal delivery business?

Such overtly transformed consumer choices and behaviour are majorly attributed to their hectic schedules, innovation in the services & instant solutions, improved mobile technologies, advances in connectivity, and increased urbanized population.

And, having known the reasons for it, would you think twice to join hands with an industry leading hyperlocal delivery partner? Business practicality says, you ‘would not’; and business foresight perhaps says, you ‘should not.’

Drawing heed from the above statistics and understanding the phenomenal growth that exists there, have you ever wondered as to how many businesses actually take the plunge of making way for themselves into such a marketplace?

Are you one among the futuristic businesses that want to get competitive by offering hyperlocal delivery solutions?

Has your business ever tried tying up with any of the leading hyperlocal delivery partners to run its operations?

If the industry experts’ opinions, feedback and statistics are anything to go by, there could be no better time for a business to go hyperlocal.

So, have you as yet geared yourself up to start a hyperlocal delivery marketplace business so as to provide a complete delivery solution or not?

Or do you still find yourself into the league of those apparently shy and impractical business houses who are always in a bit of shilly-shally when it comes to making bold business decisions?

Know that, launching a business is essentially an adventure in problem solving, and given the growing digitalization, would your business not like to embark upon a journey that is adventurous yet economically yielding?

If you ask me about my business thought of at least one half of a decade, if not a complete one, I would assert- “It is launching your business on a hyperlocal delivery platform and getting globally recognized.” The growing global e-commerce sales are a witness to the fact how the online cum hyperlocal delivery systems are growing abound and are one of the major contributors to e-commerce industry revenues.

Realizing that Covid-19 has seriously dented the world economy and the time to arrive can still be challenging, the e-commerce industry has yet, numerous reasons to be glad, one of which is the “hyperlocal delivery system” that has satisfied needs and wants of the customers globally and still continues to do so.

The emergence of hyperlocal delivery business models around the globe has revolutionized traditional business patterns at a progressive rate in the last few years. In the present time, the word ‘hyperlocal’ is the hottest buzzword in the on-demand e-commerce delivery industry. The customers, retailers, entrepreneurs, and the world economy – all of them have plethora of solid reasons to embrace and welcome the hyperlocal on-demand delivery model with open arms.

To capitalize on this transformation, far sighted businesses are teaming up with consummate software developing and user-friendly application providing businesses that have a flawless hyperlocal delivery system.

In the years to arrive, the quality of the software/application would distinguish the successful delivery businesses from their unsuccessful counterparts in this industry. To survive and thrive therein, a good business will require a robust admin panel, a versatile merchant application, an efficient customer tracking application, and a powerful delivery driver application. Beyond this, it should be backed by a comprehensive delivery management solution system.

Going hyperlocal: Acting too locally, but serving globally

As long as you are going to be thinking anyway, think big.

Before you embark upon a hyperlocal journey, there are a few peculiar characteristics of a hyperlocal business that must be borne in mind. These characteristics help your business gain mileage in the industry and enables you to become more futuristic and competitive than ever.

Since a hyperlocal delivery business software tends the coming together of three major parties- the merchant, the customer and the driver, following few characteristics as depicted via the diagram can be kept a note of prior to launching your business on a hyperlocal platform.

The merchant application can offer you the following features so as to put you in a more commanding position than ever. The more versatile the merchant application is, the greater is the business command. These features are-
- Easy and hassle-free order management
- Easy and smooth order dispatch
- Detailed purchase/order statistics
- Detailed sales reports
- Order notifications to keep you updated
- Multiple account support
- Menu customization at your discretion, and
- Store availability controls

The customer application, if it is good and a thoroughly worked out one, can provide an experience to the user which is inexplicable. The more feature packed an application is, the better and more enriching is the customer experience. Some of these features are-
- Live order tracking- So as to keep the customers updated with the whereabouts of their orders
- Radius-based search- So that you can get products in minutes from the nearest store.
- Seamless experience- So to provide the customer with a great experience and hence make them happy
- Smart product discovery- Helps to discover your product
- Order scheduling– In the event of you remaining busy, this feature helps you pre book your orders for tomorrow or for any other day within a week
- Push notification- To keep you posted
- Safety and security- To promote transactions and dealings which are safe and secure
- Accepts multiple modes of online payments- So that making payments do not become a big deal.

The driver application lends great ease of use and smooth order deliveries free from unnecessary rough and tumble to the concerned drivers. Following features if loaded on the driver application can bring great gains for the business from the drivers’ perspective.
- Quick map navigation- For seamlessly accessing the locations
- Live order updates- To know the ordering history-changing every minute
- Detailed driver profile- So to make the drivers feel identified and more empowered.
- Monitor the earnings- To keep a record of how much you have gained
- Quick access buttons- So to avoid deliveries from getting delayed
- Order statistics- Provides a complete record of the orders
- Wallet- So that a proper account is maintained
- Help and support- So to eliminate all problems and grievances

Given the growing global acceptance and craze of hyperlocal delivery platforms, it is time for businesses to make hay while the sun is shining.

If a business takes heed of the above discussed aspects, it can move, without much surprise, from sub-locally segmented domestic markets to global markets in a short span of time and dominate the globally present hyperlocal delivery marketplace.

Things to take care of before launching your business on a hyperlocal platform

Prior to launching your business in a hyperlocal marketplace, following are few of the must-haves that you should keep in mind.

Deciding upon what to sell: ‘What to sell’ is perhaps one of the most primary questions that you can ask yourself before going for a business launch. Unless your business figures out on the specialty of products and merchandise that it needs to make available, all the business exercises would be futile.
Deciding on your target market: A target market, if figured out rightly and reached out effectively, can be the most predominating thing for a business, specially if it is an online one. A thorough and a well-classified market research can help you find out the right clusters of a target market to be catered to.
Partnering with the right software company: Partnerships produce great synergistic effects. If done rightly, a robust software or a recognized application provider can bring substantial gains for a business.

Getting launched: Will your hyperlocal delivery software help you hit a home run?

Once you are done with ensuring and recognizing your products and merchandise and the target market, you ought to go ahead with making that right choice and moving a step closer to buying a robust product delivery software that can do all the work for you. By scheduling a meeting or getting a free trial of that hyperlocal delivery software your business wishes to buy, you can easily make out whether it is capable of providing those readymade delivery solutions to your business or not.

Once you find it fitting your businesses’ bill, the world is all yours to step forward into, and though it is not wishful thinking, but you can start getting dressed up to attend the success party that would inevitably be a banging one.

But while you dress up, try not to lose focus and keep working hard on the right set of business plans and strategies to serve the changing hyperlocal needs. As these needs evolve, so should you.

And, do not forget that a business’s success depends on its backbone, and not on its wishbone. Hyperlocal Delivery Marketplace

Business Ideas Guides Latest Articles

Starting an Online Food Ordering and Delivery Business: Benefits and Challenges

Post author By hyperzod
Post date March 24, 2022
No Comments on Starting an Online Food Ordering and Delivery Business: Benefits and Challenges

Consumers around the world are realising the value of time and therefore their patience level is going down, especially, when it comes to things that could be automated with the available technology. It’s now becoming increasingly important for businesses to go online. In order to thrive in the modern economy, the choice between going online or not is becoming less of a choice by every passing day. Businesses that are equipped to go online, therefore, have higher chances to thrive

Table of Content

1. Leveraging Technology

1. Technology Evolved Businesses

2. Food Business & Technology: Joined at hip

3. Is your business really leveraging the available technology

4. Automation is the future: Acting hyperlocal, reaching global

5. Brick and Mortar Businesses are Going Online

a. Is Incorporating Technology into your Food Business Hard?

b. Growing smartphone penetration statistics

c. Going online with your food start-up

Table of Content

1. Leveraging Technology

1. Technology Evolved Businesses

2. Food Business & Technology: Joined at hip

3. Is your business really leveraging the available technology

4. Automation is the future: Acting hyperlocal, reaching global

5. Brick and Mortar Businesses are Going Online

a. Is Incorporating Technology into your Food Business Hard?

b. Growing smartphone penetration statistics

c. Going online with your food start-up

1. Leveraging Technology

It is worth mentioning that businesses that leverage the latest technologies methods and practices, do so across the board, without reserving any hierarchical and procedural exceptions. And that is where their strength and success lie. One such business is Amazon which impressively uses technology to invoke needs in their clients, communicate the merits of merchandise and deliver seamlessly, something to which the entire world community is a witness.

Ever wondered, that of the many reasons, which one particularly keeps certain businesses alive and thriving, but others failing and grieving? Yes, the technology and the use of it; AI-inspired processes, virtual chatbots, social media websites, SEOs, etc. As they say- “Tough times don’t last but tough businesses certainly do”, businesses of today must learn the tricks of the trade to stay afloat aboard the technological boat that can sway our businesses, anywhere.

1.1. Technology Evolves Businesses

It goes without saying that technology has certainly driven the evolution of businesses in the entire world. Continuously adapting to such evolutionary standards and effectively adopting new technologies is essential for businesses of all sizes and nature, especially the food industry which has witnessed a blitzkrieg competition in recent years.

With everything considered, the central idea for businesses is to find ways to continually evolve. “Even if you are on the right track, you will get run over if you just sit over there”, opined Will Rogers. So how do we save ourselves from getting run over? Or how do we continually evolve as a business? Of course, with technology and its aspects at the fulcrum, a right approach, subtle business tactics and a proper and well-executed plan, we can help our businesses sail through smoothly.

2. Food Business & Technology: Joined at hip

Starting a business in a market space that is technologically demanding is hard, but the benefits outweigh the challenges convincingly. It’s guaranteed to provide higher visibility, better engagement, opportunities for better branding, among other things. All these factors lead to higher conversions which could not have been achieved in a traditional brick and mortar business.

Farsighted businesses adopt the incorporation of automation into their processes early on. That is an example of a good strategy. On the other hand, myopic businesses discard such steps as unnecessary.

Following are a few compelling reasons as to why businesses in general, and food businesses in particular, should emply the usage of software automation and go online:

Streamlined Business Processes: It simplifies recurring business activities by allowing machines and software to do the heavy lifting for you. Since food businesses demand tackling higher engagement with customers, it requires an increased degree of automation.
Cost-effective: Outsourcing redundant business activities to automation and upgraded IT processes reduces the need to have too much labour, minimizes paperwork expenses, overhauling and maintenance costs.
Increased Efficiency: Automated processes owing to their inherent sequential nature, streamline a lot of activities, thereby, enhancing the workflow and making it more efficient. Was there no automation, food businesses would not have been able to become so swift in their online food deliveries and other related processes.
Fewer Errors: The introduction of technology and automation into the business process largely minimizes the chances of making errors, thereby making your business become more accurate.
Increased Visibility: Going online increases the visibility of the business. It certainly makes your presence count by yielding good economic returns.
Competitive Edge: By going online, you are saved from the threat of getting overshadowed by rival businesses, which otherwise could have been done easily

3. Is your business really leveraging the available technology proved to give exponential growth?

Groundbreaking changes and innovations in technology have increased the stakes not just for solidly established businesses but for start-ups too.

So, is your food business one of the groups which can utilize technology to its advantage?

Or if not, does it have the requisite technology to be the market leader?

Or is your business capable enough to make a fortune by making the right use of technology?

Technology, if used rightly by businesses leads to obvious progress. Businesses incorporating technology must learn about the use of the following aspects and the merits they bring along with themselves to foster a business’s capabilities.

Better Communication: The use of technology creates new ways to communicate. The more the number of ways to communicate, the easier and greater is the reach of businesses.
Efficiency Tools: Technology provides better customer relationship management (CRM) tools to businesses.
Artificial Intelligence: The availability of artificial intelligence (AI) chatbots that businesses can always use for their benefit.
Better Marketing Opportunities: Technology has made it easier for businesses to showcase their presence and business skills across different social media forums, pages, etc.

It’s no secret that the online presence of businesses guarantees more impressions and increased engagement and conversions. But is their mere presence enough? As customers grow increasingly impatient towards their order delivery time, the need of the hour is to make your business prompt and swift. This raises the question, “Can implementing a hyperlocal product delivery process help in reducing the order waiting time for customers?”

4. Automation is the future: Acting hyperlocal, reaching global

In fact, if you take a note of how businesses have lately gone online and are selling their products, you shall find a major percentage of them have increased their use of technology, at multiple levels, in their operations resulting in increased levels of automation. Gartner, inc., a financial analyst company, asserted that Chinese businesses that illustrated the most resilience during the pandemic were the ones that partnered with highly reputed digital providers and incorporated automation into their business plans.

5. Brick and Mortar Businesses are Going Online

The so-called brick and mortar businesses too, are going online in order to stay competitively upfront. Imagine a company that merely sells through physical stores instead of selling online. Or still better, just think of a scenario where the pandemic has dented your business sales and affected your future prospects badly. What do you do then? You cannot operate physically. You are incapable to undertake technology as a means to spur your business growth. You feel restricted, to say the least. In such circumstances, familiarizing your business with technology and getting automated is certainly the key aspect.

But the question is how to go about doing it? The following suggestive aspects can be touched upon.

Leverage the Internet: Increased use of technology and invoking more internet-enabled services.
Automated Responses: Using chatbots to generate prompt responses to clients.
User-friendliness: Make your business website look aesthetically pleasing and easy to interact with for increased user engagement.
Social Media Marketing: Using social media marketing effectively for a greater reach.

Besides these, there are numerous ways of employing technology in your food business.

5.1. Is Incorporating Technology into your Food Business Hard?

For companies on the offensive, certainly not. A hyperlocal food delivery system can surely make you more technology-enabled and increasingly responsive to customer queries and grievances if any.

Specifically writing, food business ideas never go out of vogue as people have a biological craving to eat several times a day. Starting a business that is centred around various delectable food delicacies can be an economically rewarding experience. Online food businesses that are immersed knee-deep into technology have clearly become a fad. Be it business finances, generating merchandise sales, operational flow through, technology has a considerable role to play everywhere. So, why not go online, turn digital, adopt automated processes, act hyperlocal, get “foodtechhed” and reserve your share of pie when you can? The statistics to follow will surely push thoughtful businesses towards going online.

5.2. Growing smartphone penetration statistics: Is it time now to make your business go online?

‘It’s always about timing. If it’s too soon, no one understands. If it’s too late, everyone’s forgotten.

The world has witnessed an exponential rise in the number of smartphones being bought by customers across the globe. The global market has moved from landline phones in-a-few- homes of a town to having mobile phones with almost every member-of-a-home in the last decade or so. A report on smartphone penetration published in December 2021 cites that the global smartphone penetration rate is estimated to have reached over 78 per cent in 2020. Data in the same report reveals that in North America and Europe, the smartphone adoption rate stands at about 82 per cent and 72 per cent respectively. These statistics are one compelling reason as to why businesses should go online. Human observations and data reveal that a significant number of food bookings via online platform through the use of mobile phones has been on the rise ever since the increasing penetration of mobile phones around the globe. For far sighted businesses, this data can serve as a strong basis and catalyst to get going.

Moreover, the average screen time (the time a person spends while seeing or using his mobile phone) has also been on the rise ever since. The greater the smartphone penetration and ease of internet access, the greater is the likelihood to remain glued to your mobile screens.
Furthermore, such has been the pace of technology and mobile adoption around the globe that as per a study, it was reported that an average American spends over 3 hours 13 minutes looking at mobile screens each day. Additionally, they spend roughly 4 hours on their computer screens

Britishers too are not far behind, showing an average of around 6 hours 25 minutes consolidated screen time each day, with mobile screen time nearing around 2 hours 44 minutes. The study found the Philippines to be having the highest mobile screen time nearing around 6 hours each day. Brazilians reported an average mobile screen time of over 5 hours. These facts cum statistics push thinking-to-be-businesses to think of becoming ought-to-be- businesses.

The fact that there is a growing use of the internet and mobile phones and more online presence of consumers worldwide, the time is just opportune to get the ball rolling. If you still spend too much time thinking about starting your online food business, you’ll probably never get it done.

5.3. Going online with your food start up: No more wishing. It is time to make things happen

The use of technology in the food business has become quite mundane. Businesses incapable of effectively using it can be everything, but successful. Given the galloping pace of competition and technological adoptions in the food industry lately, it would be akin to turning a blind eye to our own business prospects if, without embracing technology we continue to engage ourselves in it.

This era of automation and technological amalgamation requires sincere efforts on the part of food businesses. Given the food industry’s growth trends which have chosen technology and automation as their business pivot, the revenues can be big and returns, exceptional. And it is not a big deal if ‘technology-adoption trends by food businesses’ are anything to go by. As per a report published in the year 2020, online on-demand food delivery services are projected to grow by $44.23 billion during the years 2020-2024 in some APAC countries, Europe, North America and South America. The report further mentions the advantage the online food delivery service businesses command owing to their level of market penetration and huge scale of operations.

Moreover, the seamless opportunities that are present in online food business, the challenges that lie ahead and the upcoming trends which may be exploited by prudent and smart business have also been discussed. All this necessitates that the opportunities are plethora in the market for online food businesses, just that the right kind of business initiative, a comprehensive plan keeping in view the products and markets, and its feasible execution can work wonders for established businesses and even for start-ups

What if I say, using technology in your food business can be economically yielding and technically nurturing and as easy as rolling off a log?
The right use of technology has brought a lot of economic and operational respite for businesses ever since. A food business, like any other business, must check upon the following three parameters which ought to be there prior to starting or while defining a business.

Customer group:- The target market or those sets of customers who are going to buy your product/service.
Customer function:- This answers- What need of that target market does your product/service satisfy?
Alternative technology:- The technology or the way through which the needs and wants of the target market will be met.

It is noteworthy that technology serves as a strong basis for a businesses’ growth. In fact, extensive use of the incumbent technology is a strong catalyst for spurring business growth. Food start-ups in order to get ‘foodtechhed’ must willingly learn to adopt it. So how does a food business wanting to start, goes about finding the convenient and right technological process and online platform? How can it unite with a hyperlocal business which can help it have a global presence?

As they say- “The technology you use impresses no one. The experience you create with it is everything.” Holding this adage to be true, we can help your standstill business ideas go online and find the right runway to provide them wings of mettle to fly and soar high. With the ease and convenience our software brings for start-up food businesses, the journey would surely be enthralling and benefitting one so much so that the businesses wouldn’t want to deboard from their business class cabins. Join us and come on board to experience the mesmerising journey that awaits us.

Ordering App

Online Ordering

Merchant App

Store Management

Driver App

Online Delivery

Admin Panel

Business Management

Autozod

Delivery Automation

Table of Content

1. introduction

2. Businesses and digital marketplace: Understanding the growing relationship

2. Businesses and digital marketplace: Understanding the growing relationship

3. Some useful statistics

4. Essential touchpoints prior to choosing a strategy

4. Essential touchpoints prior to choosing a strategy

a. Explore the target audience

b. Do research of your competitors’ marketplace

c. Highlight your USP

d. Discover customer touchpoints

5. Marketing strategies for digital marketplace

5. Marketing strategies for digital marketplace

a. Explore the target audience

b. Search engine optimization

c. Invite referrals

d. Content marketing

e. Boost your social presence

f. Take part in online events and discussions

6. Conclusion

Table of Content

1. introduction

1. introduction

2. Knowing the basics of a hyperlocal marketplace

2. Knowing the basics of a hyperlocal marketplace

3. What is meant by hyperlocal marketing?

3. What is meant by hyperlocal marketing?

4. Hyperlocal marketplace: Knowing step by how it works

4. Hyperlocal marketplace: Knowing step by how it works

5. Factors that have contributed to the growing hyperlocal culture

5. Factors that have contributed to the growing hyperlocal culture

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

Strengths

Opportunity

Weaknesses

Threats

TOWS MATRIX

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

Table of Content

1. introduction

2. Features of a good and promising hyperlocal ecommerce Software

2. Features of a good and promising hyperlocal ecommerce Software

3. Why is hyperlocal ecommerce marketplace becoming a furore?

3. Why is hyperlocal ecommerce marketplace becoming a furore?

4. Factors behind the whopping rise of hyperlocal ecommerce

4. Factors behind the whopping rise of hyperlocal ecommerce

5. Learning about the increasing popularity of hyperlocal ecommerce

5. Learning about the increasing popularity of hyperlocal ecommerce

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

7. How to go hyperlocal?

8. Future of hyperlocal ecommerce Business model

8. Future of hyperlocal ecommerce Business model

Final Words

Table of Content

1. introduction

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

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

3. Benefits associated with hyperlocal eCommerce

3. Benefits associated with hyperlocal eCommerce

a. Massive Outreach

b. Improved customer experience post purchase

c. Visibility for local stores

d. Minimal efforts for online retailers

e. Lower logistics costs

4. Features of a good hyperlocal ecommerce software

4. Features of a good hyperlocal ecommerce software

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