ONLINE HYPERLOCAL SERVICES MARKET ANALYSIS
Offering consumers the required quality at marginal prices and generating revenues over the business’ break-even point in rural and remote locations has been a significant challenge in the recent past. Moreover, consumers are highly price sensitive and are attracted towards higher discounted products. Expansion in rural regions and maintaining optimum profitability is among the key challenges for companies in this space. Some of the participants including TinyOwl, Dazo, Fashionara, PepperTap, and Purple Squirrel were shut down or forced to withdraw operations from certain areas in India in 2016, owing to the above mentioned challenges.
Increasing competition among key players to enhance their consumer base has led to significant investments in promotional campaigns and marketing strategies, and this is anticipated to fuel growth of the market
Restraints
Increasing competition among key players to enhance their consumer base has led to significant investments in promotional campaigns and marketing strategies, and this is anticipated to fuel growth of the market
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