Hyperlocal businesses have always been an important part of India’s commercial landscape. The neighbourhood kirana store and the all-purpose repair shops have been the mainstay of their locality. But these veterans faced a threat with the arrival of mega e-commerce stores that offered goods and services at the consumer’s doorstep.
ApnaComplex offers an innovative solution to flip this imbalance, offering small businesses an innovative solution to regain their market. It connects hyperlocal businesses with gated communities through the app. It offers them easy access to a market with high spending potential. At the same time, it provides residents with the opportunity to encourage and empower local businesses.
What is a hyperlocal business?
Hyperlocal refers to a highly specific geographic area or locality. Hyperlocal businesses cater to the needs of this specific community through the local ecosystem. It focuses on personalisation and the needs of the local consumers. Modern hyperlocal business models also include digital aggregators like ApnaComplex that can help deliver goods and services to the consumers’ doorstep.
Lagging smaller businesses
Even before the pandemic, concerns were raised about predatory pricing by large e-commerce stores to cut out the competition by small sellers. The e-commerce market was growing by more than 20% by the end of 2017. The pandemic only made the gap wider with 82% of small businesses forced to slow down during the pandemic.
On the other hand, large online marketplaces had the funds, technology, and the ability to quickly adapt to changing conditions. As a result, these businesses were able to dominate the market, taking over the traditional consumer base from hyperlocal businesses.
ApnaComplex reverses this digital gap by offering hyperlocal businesses an opportunity to reconnect with gated communities, thereby establishing their presence in a rapidly growing demographic with high spending potential.
Cashing in on the India Consumption Story
Gated communities are fast emerging as a high-spending demographic, accounting for 32% of the population in the top 50 cities of India. This is a significant number, especially if we consider their spending power. Typically, rents and maintenance charges are higher for a home in a gated community. Hence, their residents are likely to have a higher discretionary income than the average consumer.
Not only is this a substantial market, it is also a rapidly growing one. Gated communities are expected to house more than 24 million households with the average household income reaching USD 19-20k in the next 5 years. In short, the gated communities are fast emerging as an important consumer demographic.
Leveraging hyperlocal businesses with ApnaComplex
In this scenario, gated communities can play a critical role in helping smaller hyperlocal businesses through ApnaComplex. As a community management app, it has a high adoption rate, which means that almost every household has at least one user in a partner community. Businesses can reach these residents through the app’s home services segment.
These services include pest control, cleaning, painting, rental RO, and home painting. The app acts as a digital marketing tool where businesses can also make special offers, discounts, or other strategies to further attract new customers.
The easy access to these value-added services is designed to improve the ease of living in gated communities. The aim is to bring a range of convenience to the residents’ doorstep, anticipating and meeting their every requirement. By connecting the average resident with hyperlocal businesses, ApnaComplex now also offers these communities to leverage their collective buying to empower and build local businesses.
If you want to know more, write to us at support@apnacomeplex or call 80886 11229.