#hyperlocalservices

Hyperlocal services are online business models that offer a wide range of products and services based on smartphones equipped with GPS technology. Among the options are restaurant food delivery, grocery delivery from superstores or hypermarkets, logistic services, and home utility services such as electrical repairing, plumbing, carpentry, laundry, and personal tutors.

Catering to customers with the highest product quality while maintaining access to marginal profits is a major challenge impeding Hyperlocal Services Market growth. Increased consumer base and business activity may result in a decline in product quality, resulting in a loss of consumer retention. The industry is distinguished by a large number of global and local options, resulting in increased consumer volatility. Furthermore, the customer catering potential of these hyperlocal service markets is restricted to urban areas only. These factors are expected to continue to pose a challenge to the players' business growth.