Online Marketplaces Account for Majority of On-Demand Economy
Consumers are increasingly using on-demand services like Uber and Instacart to get the things they want, when they need them. According to October 2015 research, annual US on-demand economy spending has reached $57.6 billion.
Rockbridge Associates Inc., as cited in the Harvard Business Review blog, surveyed 933 US internet users ages 18 and older about their usage of on-demand services in a 12-month period, the categories used, typical monthly usage and spending per transaction.
The survey found that the largest amount of on-demand spending was occurring in online marketplaces, which generated $35.5 billion in spending annually.
Transportation was the second-largest category, generating $5.6 billion in annual spending, and food and grocery saw $4.6 billion in annual spending.
Though companies like Uber and Amazon offer same-day delivery services, separate research from Accenture found that same-day delivery offerings are still rare, despite consumer willingness to pay for the service.