The World is Adjusting to On-Demand

“The internet makes human desires more easily attainable. In other words, it offers convenience. Convenience on the internet is basically achieved by two things: speed, and cognitive ease. If you study what the really big things on the internet are, you realize they are masters at making things fast and not making people think.”  — Ev Williams, Twitter co-founder

More and more these days, the need for speed, instant gratification, and convenience dominate our daily lives. 

Cutting-edge digital technology, mobile devices, and online capabilities become faster and more efficient with each passing day.

The ability to purchase goods and services with a few clicks of a smartphone, and immediately connecting with each other are no longer science fiction.

It's becoming the status quo.

The On-Demand Economy

The on-demand economy is exactly what it says it is: the ability to fulfill consumer needs and desires instantly, on-demand.

The more tech-savvy a company, the greater response to on-demand needs of their consumers.

Simple as that.

It's becoming an expectation to find answers, get directions, communicate, and do business on-line.

It all has to be on-demand, at the swipe of a smartphone - car hailing, hotel booking, hiring, consumer purchases. It's no longer cost versus quality, but speed of access versus everything else.

Although the malls are still crowded during holidays, the convenience of online shopping has gone through the roof. 

According to an annual survey by UPS and analytics firm comScore, online purchases have increased from 48% in 2015 to 51% in 2016. 

Of these online purchases, 44% of consumers conducted business directly on their smartphones.

The world is going mobile!

Having the ability to tackle daily tasks like paying bills, buying groceries, or even attending school online, is all now part of the on-demand economy.

These things and more can be done without ever having to leave home.

Whole Foods and Trader Joe's surveyed 250 of their customers to find out why they preferred to purchase groceries online. The overwhelming response was that they liked the "convenience of delivery."

I don't blame them.

Hello World…It's the On-Demand Economy

Back in the late '90s when Al Gore's internet was shiny and new, its promise was to digitally connect otherwise disparate networks of people and data. And it achieved this pledge, quickly.

Now, the new promise, is the on-demand economy, giving people exactly what they want, when they want it.

As such, companies are offering increased on-demand services like Netflix, Uber, Amazon, Spotify, and of course my favorite, WeGoLook. 

So Where Are We Going With This?

In 2015, approximately $17.8 billion was invested into startup companies jumping on the on-demand bandwagon.

Once larger companies catch on, they will offer additional on-demand goods and services to expand to new verticals and reach new customers.

Successful on-demand businesses need to focus on giving the customer what they want…now. This boils down to keeping abreast of the latest technology (or innovating yourself) to streamline good and service delivery.

According to The On-Demand Economy, over $4.8 billion in capital has been invested in on-demand companies to date. Just in the transportation industry alone, Uber has received $1.2 billion in financing.

As technology is constantly changing, new business models and infrastructures are introduced at lightning speed. 

Because of new technology, record growth is being seen in the restaurant, grocery, and ground transportation industries.

Even the way the media is being reported and presented is changing as viewers are coming to expect live streaming and on-demand viewing of what's happening out there in the world.

Staffing and hiring practices are currently being disrupted with the advent of on-demand workforces; something I am very familiar with.

While there have been both hits and misses, it seems consumers are willing to pay a little more for convenience and the ability to run life from a smartphone.

In understanding a society where patience is no longer seen as a primary virtue, one can only wonder how much of our lives will soon be lived on-demand.