Hyperlocal ecommerce deliveries- Making a steady progress than a giant leap

Hyperlocal ecommerce comes along with a set of benefits that we all are enjoying in today’s times, some of which are- convenience, safety, and contactless and quicker deliveries. Hyperlocal ecommerce deliveries ever since their inception have been going pretty good and they look poised to attain even greater heights in the times to arrive. So, what’s it that is making hyperlocal deliveries so popular and wanted. Let us find out.

The hyperlocal ecommerce delivery is on the rise in many of the prominent and growing countries of the world. Perhaps, it is this fact that speaks volumes about the growing craze of hyperlocal ecommerce. Also, the advantages that are accrued to hyperlocal deliveries make a business’s hyperlocal journey worth pursuing.

To put across a statistic, the hyperlocal delivery industry was worth $1324 billion in the year 2019 and is expected to grow to $3634 billion by 2027, with a compound annual growth rate (CAGR) of 17.9% throughout that time.

Rapid improvements in the hyperlocal delivery sector have been spurred by rising customer demand, which has been fueled by increasing internet and smartphone penetration, urbanization, changing customer behavior and increasing sedentary habits and lifestyles. Consumer expectations are growing as a result of the proliferation of ecommerce platforms, online marketplaces, and delivery-based enterprises. Customers are drawn to firms who deliver things faster than their competitors, therefore the hyperlocal delivery model opens up a slew of possibilities for entrepreneurs.

The hyperlocal space-As competitive as it can get

With cutting edge technology and automation at the helm of hyperlocal affairs, the rivalry in the space is getting intensive with each passing day. It is the continuous entry of new competitors in the hyperlocal space that is making the industry tremendously competitive.

The sudden rise in urbanization, changes in consumer behavior and improving lifestyle are some of the factors which have led to the growth of hyperlocal ecommerce delivery around the globe. As much as the craze for hyperlocal delivery apps is there among businesses, so it is among the customers. In fact, the competition has intensified so much so that several ecommerce giants are planning to acquire these hyperlocal delivery startups so that they can reduce their transportation costs and minimize their delivery times. Companies like Dunzo, Burzo, Xpressbees, etc., are too fighting it out for their market share and are employing strategies to counter the rivals in the most economical way.

It has become important for every company to gain customer loyalty because any customer would prefer to order from companies that provide services to them at the cheapest rates, rather than sticking to any particular company.

The hyperlocal ecommerce industry has been facing stiff competition from players like Swiggy, Blinkit, Amazon and Flipkart, etc that started to deliver groceries and other home essentials no sooner did the covid19 pandemic struck in 2020. Attribute it to this increasing competition that ever since the outbreak of the pandemic, the hyperlocal space has witnessed a steady but tremendous growth.

Now to this day as we see the impact of the pandemic waning a bit, hyperlocal ecommerce just looks perfectly poised to take a soaring flight. After all, an industry’s strength is determined by the presence of its competitors and if observations and trends are anything to go by, hyperlocal ecommerce space is witnessing a continuous influx of aspiring businesses and entrepreneurs into its space, which is symbolic of the fact that we all, as businesses and consumers together, are headed for something really big- or to say so, massive. Or, Aren’t we?

Reasons why hyperlocal ecommerce is gaining popularity

Though there may be plethora of reasons for businesses to join hands with a hyperlocal delivery partner, below mentioned are a few of them that give us straightaway insights into why hyperlocal ecommerce is being talked about so much nowadays.

Primarily, as a matter of fact, certain logistics providers are currently writing the rules for the hyperlocal on-demand delivery model while also supporting retailers who are unable to engage in on-demand deliveries themselves.

By using digital cum hyperlocal platforms, offline businesses can connect with customers to enable instant purchases that are then acquired and delivered by the logistics providers. One of the most appealing aspects of using a digital platform for this process is that it enables customers to monitor the entire delivery process in real time.

One other aspect that makes the hyperlocal model so effective is the fact that — it promotes immense trust. Enabling the consumer to gain visibility into the supply chain and see the process from purchase to sourcing to delivery cements assurance and conviction that their order is handled according to their expectations.

Another appealing aspect of the hyperlocal model is unbelievably quick speed. Hyperlocal businesses are able to deliver products and services at a way faster pace than their larger online counterparts. This speed of delivery is possible due to the consumer’s proximity to the source. Since a hyperlocal ecommerce model finds in its close proximity both the sellers and the buyers, achieving speedy delivery milestones is not an issue for hyperlocal businesses.

In hyperlocal ecommerce, the shortest delivery time is one of the finest merits and also sometimes a business’s unique selling point (USP). With the increasing competition in hyperlocal delivery space, companies have to be working efficiently to reduce their delivery time and also offer the lowest or competitive prices to attract customers and maintain relevant market share.

Future of hyperlocal deliveries

Why do they say- ‘Run the race like a tortoise, and not like a rabbit’ Or the more common saying- ‘Slow and steady wins the race.’ Ever wondered?

Well! This saying pretty much aptly fits the context of hyperlocal ecommerce deliveries as they stand today. Backed by robust hyperlocal delivery apps, businesses are steadily picking up momentum and gaining a foothold in their respective hyperlocal spaces, which is why the growth that exists today. Continuing the momentum of growth and prosperity, businesses of today have their eyes on the future since they are ready to embrace whatever technological advancements come their way- improved AI techniques, blockchain, drone deliveries, use of robots, come what may.

Be they food deliveries, grocery delivery, delivery of other household supplies or medicine deliveries to your doorstep, hyperlocal ecommerce is just getting better and going steadily up a day. It’s a simple thing to understand, that- ‘businesses are arduously but pretty commonly using the hyperlocal model of making deliveries and consumers are quite interestingly and fervently liking it.’ Does not this speak volumes of the potential of the hyperlocal deliveries or what the future holds for hyperlocal ecommerce? It certainly does.

With the expectation of technology increasingly bringing in more disruption for businesses, and improved automation and machine learning practices becoming the order of the day, businesses are sure to go gaga over the next few years over the future of hyperlocal ecommerce- one that is showing promising increments every day and looks tremendously bright.

Wrapping up

Hyperlocal ecommerce deliveries are expected to bring respite and convenience to the doorsteps of the consumers. And hyperlocal businesses, in charge of it, have been doing it pretty flawlessly and with indefatigable energy. The trio of futuristic businesses and aspiring entrepreneurs, robust hyperlocal ecommerce delivery software partners and the contemporary consumers ravenous for hyperlocal deliveries- together are making significant contributions to the growth of hyperlocal ecommerce.

The fact that hyperlocal ecommerce deliveries have been going fairly well is pretty encouraging. But the hyperlocal delivery model in some parts of the world, owing to being in the nascent phase of their life cycle, is still unstructured and not so well organized and is in the hands of local manpower agencies. Yet it is making steady progress through hyperlocal delivery brands and we really do not know whether it would take a giant leap a few years from now, just like some erstwhile ecommerce businesses. Or it would continue to go steady and strong, the way it is going.

Healthy competition in this industry is a must as the volume is so large that it can’t be catered by just a few logistics brands. By adopting new-age technologies, hyperlocal delivery players will have to step up in the coming days to continue making convenient and economical deliveries a possibility. Some small business owners or local retailers may also be seen leveraging professional hyperlocal services to come up to the front and implement more customer-friendly business models to retain the existing customer base or to lure the new ones.

Whatever happens in the hyperlocal ecommerce space a few months or years from now, one thing which is bound to take place in the industry is ‘unbridled growth.’