Business Concierge Services
Operators in the Business Concierge Services industry handle everything from appointment management to running errands, making travel reservations and even providing transportation. Once exclusively the domain of celebrities and affluent professionals, business concierge service companies have 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. Over the five years to 2018, 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 due to a decade-long decline in the amount of leisure time for the average American. Over the five years to 2023, the industry will benefit from improving per capita disposable income, particularly among households that earn more than $100,000, which is one of the industry's primary markets. Furthermore, concierge services targeting seniors will likely be another key area of growth for the industry.
This industry comprises establishments that provide concierge services for business executives, employees and individuals. Concierges provide a variety of services, including running errands, grocery and personal shopping, making travel and restaurant reservations, and home management. Services may be provided in-person, by telephone or online. 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.
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