The hyperlocal sector seems to be the next edge for startups and entrepreneurs in the e-commerce world to build a major undertaking from India.
Hyperlocal has raised stakes in the market that spreads from grocery, concierge services, pharma, to food aggregators.
Well rooted companies like Domino’s, KFC, etc. are also up with the hyperlocal eCommerce as it is highly serving the purpose. In terms of facts, these outlets are getting 70% of their total revenue from online orders be it from Swiggy, Zomato, or their own delivery portal.
Let’s take a look at some more stats published by Statista Research Department:
During the fiscal year 2019, Zomato’s revenue amounted to over 200 million U.S. dollars. There was a significant increase in revenue for the company since the fiscal year 2016. Zomato along with Swiggy were two of India’s leading food aggregators. Zomato was founded in 2008 had over 80 million users.
This delineates, in India, the ‘dine-in’ concepts are overshadowing as food chains are hooking on to food-delivery startups.
The sudden surge of Internet and location tracking devices have watered the plant of Hyperlocal Marketplace.
In India, Domino’s & Pizza Hut started their food delivery service first. This highly impacted the other food-chains in the system & knocking down their revenue. To keep their ladder straight, several food-chains started providing home delivery services as well.
Then around August 2014, names like Swiggy, Zomato, Ubereats, and Foodpanda, etc. emerged. Dropping another definition for eCommerce business. These food aggregators furnish the restaurants with a platform for listing their food and delivery men for picking and delivering the orders. With the ongoing surge in technology, the hyper localism covered almost all the dimensions, be it food delivery, online grocery store or cab facilities.
All of these names proved that there is so much left to be achieved in the hyperlocal business.
How to Start?
Hyperlocal is surely a promising dimension of eCommerce. All you need to do is to plan each and every step to eventually grow out strong with the best resources.
The Hyperlocal add-on for Multivendor Marketplace for Shopify by Webkul lets the admin, local vendors and consumers to connect with each other. The admin of the marketplace needs to have a Google API key so that the customer can enter their delivery location and fetched the suggested stores accordingly.
A basic flow will go like this:
- Vendors register themselves
- Admin/Vendor add services
- Admin can restrict service area or they can expand it to larger geolocation area
- Customers enter their delivery location
- Gets ‘nearby’ results
- Customers pay either online or offline
- Deliver services in a very short time
- The admin has total control over the commission rate
- Simply, giving a wide window to the budding entrepreneurs
- In another view, this could be a source of extra income
For further reading, do check out: Hyperlocal Marketplace.
Until next time. 👋