On-Demand Consumerism Rising

Consumers are looking online for convenient, on-demand home services more than ever before. In 2019, food delivery accounted for about 80 per cent of all food orders, and this has increased. Food delivery has grown 25 per cent in gross merchandising value (GMV) to about $195 billion just this year alone, says a study by Meituan. Individuals are increasingly looking to their smartphones to find, browse, order food, and other products, creating a competitive market for online food delivery services. As well as generating more demand overall, consumers are growing more familiar with new technology such as machine learning (ML) and digital assistants and so are looking for online platforms that integrate these capabilities.