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Manonita Rathore
Gig economy and behaviour &soft skills Expert
Asked a question last year

What is the On-demand Economy?

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Manonita Rathore
Gig economy and behaviour &soft skills Expert

The on-demand economy is a service or product built on letting users request a physical object, a piece of data, or service and have it fulfilled soon after.

We often use on-demand economy synonymously with the gig economy, shared economy, crowdsourcing, or it’s like Uber, but for X. But the on-demand economy is an umbrella term for all those things in one way or another. Those terms talk about who or what is fulfilling the service, while on-demand includes it all.

The on-demand economy is a business, service, or product built on letting users request a physical object, a piece of data, or service and have that request fulfilled. It’s built on the concept of instant gratification, the psychological feeling consumers get when they can instantaneously make a transaction, and possibly follow the path of it all the way to fulfillment.

In short, you want something, and you want it now, and the on-demand economy fulfills it.