About us
Consumers are spending more on services, with a higher average basket value and increased transaction volume. Services like travel, entertainment, and essential services have shown resilience, aligning with the trend towards valuing experiences over physical goods.
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Additionally, service e-commerce benefits from lower operational costs and logistics complexities, leveraging digital transformation for enhanced customer satisfaction. Its lower carbon footprint also meets the growing demand for sustainable practices, making it a superior bet for companies in the digital marketplace.
Products vs Services in e-commerce
2023 vs 2022
Source: FEVAD (1) & FEVADÂ (2)
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We are now living in the decade of the digital economy where retail goods are eCommerce first. 2 billion people make purchases every day online. The scale and the customer experience provided by eCommerce is unmatched. At this point, the survival of service organizations depends on their rapid adoption of a digitization strategy.Â
Platforming distribution has provided an elegant solution to the number one scaling challenge facing service organizations: making human resources available everywhere at any time by leveraging local networks of service providers. What has been a VC cash burning challenge for start-ups is an unfair advantage for service organizations undertaking the digital transformation of their service distribution. With their strong brands and network of service providers, time-to-market can be as much as 6X faster than that which would be required for a start-up.
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Selling services through an online platform requires specific features and application architecture. Services are intangibles only existing during their execution window, not relying on stock units but rather on their availability at the right time and place. Matching offer and demand is a dynamic two sided challenge in which service vendors also have stringent requirements.Â
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Service organizations have not historically been online vendors; they can’t rely on an eCommerce ecosystem to bring them up to speed. Therefore they shouldn’t have to build their service marketplace from scratch. That is why we built a solution, encompassing the eCommerce culture and tailor-made for managing and selling services online. Becoming a lab for a positive sum game where great ideas benefit all service companies is Second’s purpose. We absorb economies of scale in the process to be a long term partner. Today our technology is reliably used on all continents and across all industries.
