Business Concierge Services
Once exclusively the domain of celebrities and affluent professionals, the Business Concierge Services industry has increasingly targeted private households and corporate employees to fulfill a variety of their household management tasks. This expansion in clientele has helped the industry thrive, as revenue increased in each of the past five years. In the five years to 2016, an increase in disposable income and higher corporate profit margins helped drive industry demand, as businesses and consumers had the extra discretionary income to spend on concierge services. Industry revenue also improved thanks to a decade-long decline in the amount of leisure time for the average American. Over the five years to 2021, the industry will benefit from improving per capita disposable income, particularly among households that earn more than $100,000, which is one of its primary markets.
Business concierges provide on-demand services for business executives, clients, employees and individuals. Companies offer a wide variety of services, including running errands, conducting grocery and personal shopping,
making travel and restaurant reservations, and home management. Services may be provided in-person or remotely via telecommunications. Companies that function like brokers to match client requests with available freelance concierges are excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.