ONLINE BUSINESS INDUSTRY SHAPING A NEW LIFESTYLEMay 11, 2019
In the present world, every activity seems to be in a rush whether it is studying, working, and creating our best lifestyle. So people tend to reduce their time spent to do one thing in order to fulfill the time needed to do another thing else and here comes the peak of online business industry.
In the old days, when a six years old kid had a birthday party their parents would run to the market and bought some ingredients to cook for their guests at the party. But, as time passed by technology has developed; Now, everything is fast and connected. Competition has grown everywhere and people tend to focus more on how to carry out their tasks efficiently. The easiest way to feed their guests, now, is to order fast-food such as pizza, or KFC, which we can just call and the food would be delivered directly to our door. In this rushed lifestyle, people decide to order things online instead of going out on the street and get stuck in traffic for an hour.
The generation that tends to spend their money online is “Generation Y” or “Millennials” who were born between the year 1980 – 1998 age. Today, these people are aged between 21 – 39 years old. People in Generation Y don’t have as much patience like Generation X and the Baby Boomers. This is because people in these generations were born after the world has been developed; to the point where technology and the internet play an important role in society. Thus, the target group of online businesses tends to be people in Generation Y because they are now receiving income from their work. And due to their impatience, online services are easy and convenient for them to buy something without going out. On the other hand, Generation X and Baby Boomer are less likely to buy things online because these generations have higher patience due to the differences in service.
Nowadays there are several applications and services available online. People find the apps which fit their needs, they might also choose the ones which are free of charge. Online services refer to any data or service provided over the internet. These services do not only enable the consumer to communicate with one another, but the internet also provides endless access to data. It can also go from simple to complex. Basic online services could help consumer find data through search engines such as Google, Bing, Yahoo, etc., while a complex service may be an online home loan application from banks, booking a hotel room or even plane tickets.
Just thinking of sitting in a car for an hour is already terrifying. People are too lazy and too busy to go out and buy their appliance outside, instead, they are doing it online. Online shopping is another choice for people today. Online shopping is a developing industry, it’s electronic commerce which enables buyers to directly purchase goods or services from salesmen over the internet by utilizing an internet browser. Customer finds products by visiting the website of the retailers directly, or by using a search engine to search among elective merchants, which show similar item’s accessibility from various e-retailers and evaluating the credibility and price. The customer also prefers online shopping because they would get cheaper price purchasing products or services online. Other than that the value of sales is also increasing every day.
Going out for a meal we have to dress up, start the car, get stuck in the middle of a thousand cars on the street, line up in a long queue until we get our food from a famous restaurant. It takes us 2-3 hours to eat only one meal; Is it worth waiting? We can do a lot of things in 2-3 hours. Thanks to today’s innovations, Online businesses help us reduce time spent to have a good meal from a famous restaurant by “Food delivery”. Food delivery is one of the most successful businesses at this moment because of today’s lifestyle People are willing to pay more for their convenience and to organize their time effectively, so they just order and wait for their delivery. There are a lot of food delivery companies in Thailand such as Food Panda, Food By Phone, Line Man, etc.
The main factor of food delivery companies is that people will choose services that are easy to use. Now, the Thai population spends a lot of time on their mobile phones, developing an easy-to-use application is a good choice for customers because it is easy to order without calling anybody so customers will enjoy spending less time and choosing their best meal.
The factors which led the food delivery businesses to the top consist of the 4Cs; Convenience, Connection, Communication, and Competitive Differentiation. Convenience is the comfort of the customer. First, is to have a connection with restaurants to come up with promotions or have a connection with a transportation company. Second, communication is to promote the company through offline and online media to create more presence in the consumer’s eye. Third, competitive Differentiation is about creating the unique aspects of the company to make it different from its competitor.
The areas that use services from food delivery the most are Sukhumvit, Asok, and Sathorn. Most of these places are urban areas full of offices, condos and, residences which have a lot of traffic jam.
The target groups of food delivery companies are all ages according to the post of @AnthemBranding in Medium.com; high school and college students, office workers, housewives, etc. Most of the target group are generation X and generation Y. Generation Y consists of teenagers, the nature of generation Y is when they want something they want it now. As for generation X, they are mostly worker whether office workers or freelance. They have high competition and are always busy at work so it reduces the time to eat. So the food delivery business is fit for their both natures to fulfill their needs. The target groups of food delivery companies, come mostly from a middle class to high-class social status. We have to admit that the price of the delivery is quite high but it is worth the convenience.
In modern society, we can do a lot of thing without going out. All of the online services help us have a different lifestyle from the past. The widespread use of technology makes an easy and fast lifestyle accessible to everybody. You can taste a delicious signature dish of your favorite restaurant, book your Europe tour, and buy the newest collection from a famous clothes store without going out and facing the fussy world.