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6 Trends Seen In Startup Services And Products

2015 was a huge year for startups in India, and the buzz around them continues to grow. Provision of services and products are making a big impact on the modern society. What one ends up wondering is, what will be the future of these trends. The trend plays a major role in getting investors for any business.
6 major trends including Online training courses that were seen in startup services and products that were not only accepted but also revolutionised the industry, were:

1. E-Commerce

From grocery to high end labels, everything is now online. The vegetable vendor from your local market and your plumber can all be booked on the go with a tap of a finger. The target for these services, though, is not just restricted to Tier 1 cities. The start-ups saw a huge potential in Tier 2 and Tier 3 cities as well and targeted them in a huge way. Managing the delivery with high end logistics and shopping from the comfort of your home definitely became a big hit. Feeling too lazy to cook food at home? All that is needed was a few clicks on your laptop or your smartphone, and your favourite cuisine can be delivered right at your doorstep. Many top brands have now reached Tier 2 cities, and the upcoming e-commerce platforms have definitely made life easier, ensuring their longevity in the market.

2. Shop on App

E-commerce went even handier when shopping on apps gained steam. Big companies as well as start-ups took this route to lure shoppers to shop on the go. Offers on exclusive app purchases were an added bonus. It not only made shopping more convenient but also increased the sales of the business. So whether it was a taxi booking service to hire for a drop to the airport or a new TV for your living room, the trending app shopping gained an extremely positive response.
3. Local Languages

It is expected that over 300 million more will join the internet bandwagon from the vernacular language belt. The same service, the same platform, the same shopping experience, but in a regional language. The option to view the site in a language of your choice was definitely a thought out of the box. Now websites pull a huge crowd and are not only restricted to those who are comfortable with English. It is undoubtedly a huge step in the online world.

4. Tier II Cities

Start-ups tapped the Tier II cities in a big way. The scope of this untapped market was commendable. Big brands penetrated this market and were welcomed with open arms. Online grocery, fleet taxis, and even high end clothing brands have all found a good customer base in Tier II cities. This has even paved the way for a number of logistics companies to set base here. Tier II cities opened doors to a completely new opportunity. The market grew manifold as did the spending capacity of residents in Tier II cities.

5. Pool Taxis

‘Pool and save costs!’ That was indeed the mantra of a few start-ups, and yes, it was deeply admired. Car pooling was and is a big money saver. Long distances rides can now be shared and so can the cost among fellow passengers. Slowly, all the major taxi fleet operators have started offering this service, due to the continuous rise in the number of takers.

Sharing flats in an unknown city also was a huge hit. Prospective tenants got a platform to post their requirements and were contacted by those who were looking for flatmates. A single platform bought the demand and supply together, which proved very cost effective. 6.  Ed-tech and Fin-tech

What ed-tech startups are trying to do these days, is minimise the need for tutors and tuition classes, and providing a smart way of studying for exams. With personal online tutoring that caters to individual needs, and the ability to take tests online to brush up on one’s skills, ed-tech companies are making great strides.

Fin-tech companies are making huge progress as well, with companies providing ways to recharge and pay bills online, pay at restaurants by using an app, or even providing users with short term loans! A few fin-tech companies have also provided ways to let users donate money to good causes, or lend money to projects that they wish to invest in or they care about. With the advent of such companies, fin-tech startups have become a vital part of everyday life.

These trends for various services and products offered by start-ups have been applauded for being cost effective without any compromise on the quality of the product or the service offered.

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 2nd February 2016.
Archana is a contributing writer at Inspiration Unlimited eMagazine.

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