Ziferblat, a Russian term which translates into clock-face, offers coffee, tea & cookies free. Its staff note down the time you enter & exit & charge you for the time you have spent in the café. For example, Ziferblat London charges 5 pence per minute. An average customer spends over an hour in the café. Two crucial difference with Starbucks - competitive price & Ziferblat expects its customers to clean up their mess – wash the cups & cutleries they have used!
Fuelling this trend is the rise of On Demand economy where services are available on tap. The size of this economy is small but growing at an astonishing rate because:
1.You pay for what you use.
2.The service is expandable & collapsible to meet your requirements
3.Assets owners can sweat their assets more.
4.It is self-regulating. If a customer had a bad experience with the service provider & puts out a post then other customers will take decisions based on this post. Business for the offending provider will dry up!
Uber is the poster boy of this economy, followed by Airbnb, Etsy, Lyft, Amazon Web Service & many more.
What are your views on ‘On Demand’ economy? Is it a bubble that will burst or will it transform the way we consume services?
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For more stories from Rajesh Srivastava visit knowrs.insideiim.com. Also follow his series, New Rules of Business here.
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