Tag Archives: instant gratification

Is on-demand the new normal?

Times are really a-changing. Today’s sharing economy is evolving into something new and we are seeing the rise of the on-demand economy. Defined “as the economic activity created by technology companies that fulfil consumer demand via the immediate provisioning of goods and services”, the on-demand economy is rapidly altering consumer behavior and challenging traditional businesses. Thanks to the ubiquitous smartphone, instant gratification has become the norm. One can now shop at a push of a button, summon a driver at a moment’s notice, order restaurant food, and have anything delivered anywhere instantly. According to experts, over $9 billion has been invested in the space since 2010 and more investors are eagerly jumping in, encouraged by the growing popularity of the business model and profits that are already being realized. This week alone, on-demand startups like Goodservice, Zoom2U, and Postmates all received funding from investors while WeDeliver was acquired by Deliv. With investors bullish on the on-demand space, we expect to see continued growth in this sector in the coming months.