67. Aggregators changing business dynamics


How many times have you booked a cab online? When was the last time you ordered food online? How do you book your travel tickets?

If you are well versed with the digital platforms, you would know what I am talking about. Uber, Ola, Zomato, BookMyTrip, RedBus, etc have totally changed our approach towards mundane activities such as travel, booking movie tickets, and so on. They have made these tedious tasks fairly convenient. We all know what these platforms are but, do you know how they operate? What is their business model? They have an aggregator business model. All these applications are business aggregators in different sectors. 


What is an Aggregator Business Model?

Aggregator Business Model is a network where an organisation aggregates products or services from multiple providers and brings it under one platform. The organisation does not produce any product, rather it makes goods from other small business available for the customers. It brings together multiple players in a certain sector under one roof for the customer to choose from. This choice is based on a comparison of their merits and demerits.

Today, we have different business aggregators working in various spaces such as Uber, Ola, Zomato, UberEats, Swiggy, BookMyShow, Trivago TripAdvisor, NestAway, and Nobroker, etc.
Following are some of the advantages of business aggregators:

·           They bring competitors providing similar products or services under one roof and give the customer the options to choose from. This enables the customer to compare their choices and make the best decision.

·           They are becoming the one-stop destination in their sectors. This has made individual businesses keen on registering themselves on these platforms and keep up with the competition.

·           The business model is growing rapidly and new players in the market are generating employment opportunities in the country, especially for labourers.

·           These companies assemble competitors in the same space and provide the customers to compare the price and services offered. This makes the customers prefer options that are cost-effective and eventually causes standardisation of price.

These were only some of the advantages that the business model offers. There is a lot more to consider and ponder upon. Because of the changes it has bought in the market and its operation, the aggregator business model is slowly changing the business dynamics. 

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