Hyperlocal Services Market

etc. has led to significant increase in consumer confidence for the application of mobile platform
for transactions. These factors are expected to provide strong industry growth prospects
through the forecast period.
Large discounts on first purchase and competitive product offering costs are expected to
present potential growth landscape
The hyper local services market is characterized by the presence of large number of local players
venturing for better business growth prospects. Moreover, some competitors have entered into
significant private ventures offering capital investments to the start-ups for enhancing their
presence through marketing and promotional activities for acquiring large consumer base. This
has led to increased competition among the global and local players in the industry, in turn
leading to frequent major discounts and competitive pricing strategies for consumer retention.
Large savings on purchases and increased consumer convenience owing to easy accessibility to
resources is expected to present solid growth prospects for hyperlocal services market.
Grocery and food delivery segment dominated the global hyperlocal services market share
Grocery and food delivery segment participants perform the aggregation of local restaurants
and superstores through smartphone applications and provide products on demand. This helps
participants gain the trust of the local shops through online shopping. Moreover, owing to
presence of large untapped potential consumer base and almost everyday requirements of
foods and groceries will drive growth of these market segments.
Expansion of product offerings to rural and remote locations is expected present consistent
challenge over the forecast period
Catering to customers with best product quality with access to marginal profits is major
challenge hindering the market growth. Increasing consumer base and business activity may
also lead decline of the product quality that can result in loss of consumer retention. Industry is
characterized with large number of global and local choices available in the industry, causing
increased consumer volatility. Moreover, customer catering potential of these hyperlocal
service market is limited to urban regions only. These factors are expected to consistently
challenge the business growth of the players.