LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global online on-demand laundry service market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global online on-demand laundry service market is expected to grow at a CAGR of close to 37% during the forecast period. Companies offering online on-demand laundry services have integrated laundry and dry-cleaning services with the on-demand business model. This has revolutionized the laundry care market as it provides convenience for users by reducing their burden of washing clothes at homes, taking them to a public coin-operated machine, or traveling across streets in search of a dry cleaner.
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The top three emerging market trends driving the global online on-demand laundry service market according to Technavio research analysts are:
- Increased availability of seed and venture capital funding
- Adoption of technology to automate laundry and delivery processes
- Digital marketing and consumer engagement on social media platforms
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Increased availability of seed and venture capital funding
The online laundry segment is attracting significant attention from investors. Witnessing the growth in the online on-demand laundry service market, several venture capitalists and angel investors have made aggressive investments to fund such start-ups. For instance, in 2017, Cleanly raised USD 5 million in Series A funding. Increased availability of seed and venture capital funding is also helping the on-demand online laundry service companies to invest in technology, scale-up their delivery fleet, and expand into newer markets.
Adoption of technology to automate laundry and delivery processes
Many online on-demand laundry providers are adopting technology to automate the laundry and delivery processes and decrease the turnaround service time. Most vendors promise to wash and deliver the clothes in an impressive turnaround time of 24 hours. To achieve this efficiency, service providers are leveraging the use of technology. For instance, a technology developed by Cleanly helps the cleaners batch, sort, and label the updates via a dashboard. This software is built in-house and helps to achieve the turnaround time of 24 hours. This also enables drivers to scan the tagged bags and deliver the right clothes to the right customer.
“Many online on-demand laundry service providers use technology to automate the pickup and delivery operations. For instance, DRVY has developed an integrated Routific application programming interface, which automatically manages the routes for its dispatch operations, thus eliminating the need for manual routing,” says Narendra Nandaigari, a lead analyst at Technavio for retail goods and services research.
Digital marketing and consumer engagement on social media platforms
Service visibility is one of the principal factors of the marketing strategy implemented by online on-demand laundry service providers. Service providers are adopting digital and social media promotional activities as part of their marketing strategies to increase their service visibility. Vendors have tie ups with local laundry firms and other service providers to market their services. Furthermore, many vendors adopt strategies like promotional offers (a discount on first order) and affiliate/ referral model (cash back for referring a friend).
Currently, vendors are advertising through digital print media at airports, bus terminals and buses, railway platforms, and shopping malls. This enables consumers to view and be aware of the products even while on-the-go. For instance, in October 2016, ZIPJET had launched an integrated marketing campaign across London, Paris, and Berlin. The integrated marketing campaign spanned across press, digital display, outdoor, and social media.
“Social media platform is another strong component used by the vendors to run their service promotions and campaigns. This medium engages consumers with brand messages and enlightens their brand and service awareness. YouTube, Facebook, Twitter, Instagram, Pinterest, and Google+ are some of the strong social networks used by the vendors to promote their services,” says Narendra.
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