There are two basic business models linked to app-based businesses.
The first entails usage of various apps to ease the processes involved in various businesses. Secondly, businesses are directly conducted through apps. Purchasing of a variety of products including food items, renting of cars and many other things are included in this business model and this category can be identified as within the aegis of ‘app-based business’. The segment is gaining prominence with rising internet and smartphone penetration in India.
Online and offline job creation
Apps-based business increases the scope of employment. This is because an app-based business gains ground due to its special utility and quick adoption among a section of the market. A buyer can get a commodity in his/her home or office. It is also possible to send an item as a gift to any person on a particular date and time without physically going to the market.
Apps have narrowed the distance between the consumer and the market. They have successfully reduced purchasing time and increased the choice base. This has led to an increase in the propensity to buy goods and services. Therefore, apps-based businesses increase demand in an economy.
Esta historia es de la edición August 1-15, 2019 de BUSINESS ECONOMICS.
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