Global Online On-demand Laundry Service Market 2017-2021
About Online On-demand Laundry Service
Online on-demand laundry service market encompasses players that offer convenient laundry cleaning services and operate in the digital marketplace that predominantly comprises of apps and web portals. Consumers can easily avail laundry or dry-cleaning services by accessing the app or online web portals. An on-demand laundry service facilitates doorstep pickup and delivery of clothes by hiring delivery professionals and partnering with the local laundry firms.
Technavio’s analysts forecast the global online on-demand laundry service market to grow at a CAGR of 36.54% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global online on-demand laundry service market for 2017-2021 . To calculate the market size, the report considers the service revenue of the market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Online On-demand Laundry Service Market 2017-2021
Technavio recognizes the following companies as the key players in the global online on-demand laundry service market: Cleanly, delivery.com, DRYV, Laundrapp, and ZIPJET
Other Prominent Vendors in the market are: Rinse, FlyCleaners, Wassup-On-Demand, Tide Spin, Mulberrys Garment Care, ihateironing, PML Solutions, Edaixi, laundrywala, WASHMEN, and Laundryheap.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increased availability of seed and venture capital funding. The online laundry segment is attracting significant attention from investors. Witnessing the growth in the online on-demand laundry market, several venture capitalists and angel investors have made aggressive investments to fund the start-ups of online on-demand laundry services. For instance, in 2017, Cleanly raised $5 million in Series A funding. Rinse, an online on-demand laundry start-up based in San Francisco had raised $23.5 million in three rounds from 25 investors in 2017. This fund was targeted at commercial expansion plans to enter the ten new markets including Boston, New York, and Chicago.”
According to the report, one of the major drivers for this market is Providing convenience through logistics services. Most players operating in the online on-demand laundry services market provide free pick up and drop facilities. This strategy of providing doorstep convenience has certainly enhanced the demand for online on-demand services, as customers do not have to take the burden of carrying the piled-up laundry to the vendors. Once the customer schedules a pickup time, company personnel collect the package from the doorstep of the customers, processes it, and delivers back it back to the point of pickup, at the promised delivery time. Most vendors provide free collection and delivery services on placing a specified quantity of laundries.
Further, the report states that one of the major factors hindering the growth of this market is High risk – reward ratio and low margin business. The on-demand economy is one that usually yields low-profit margins and requires rapid growth and expansion to make up for the cost of laying down territory. The risks associated with the laundry business are higher than the rewards and profits it generates. Online on-demand laundry is a trust-based business where customers provide their expensive garments to service providers expecting no damage on return. However, providing quality service with zero errors on a consistent basis might be challenging for the companies. The profits that they earn may not be sufficient for a service recovery to please customers in case a faulty service causes damage to their garments.
Cleanly, delivery.com, DRYV, Laundrapp, ZIPJET, Rinse, FlyCleaners, Wassup-On-Demand, Tide Spin, Mulberrys Garment Care, ihateironing, PML Solutions, Edaixi, laundrywala, WASHMEN, and Laundryheap.