Skyrise marketing could be a special type of marketing, which have positively taken this pandemic period for strengthening their marketing game plan for urban regions. The skyrise market enables emergency collective buying or group buying, which simply means combining the entire individual consumer needs or orders and placing it into a single large order for the group. Heavy apartments of high population density, high disposable income, and a singular lifestyle may find this growth of “skyrise marketing” even easier.
Most of the skyrise markets are functioning through a well-developed networking system having specially designed apps that provide some ease for bill payments, raising service requests, and other communication and various other platforms to discuss important policy within the society. Whatsapp conversations play an important role in communication and marketing among the people in this society. The main aim of group buying is to overcome various constraints like manpower and delivery problems. This can reduce too many delivery executives when they order a single order.
Some of the success factors of skyrise marketing are:
- Distinct level of customer knowledge about the products, some people are experts and on the other side, some are there who don’t have any idea about it also.
- The pace of involvement from the part of customers is as much as others.
- Group discounts will remain as a motivating factor for customers. It would feel rewarded for the additional time they may spend in the buying process. This ultimately helps to increase the overall customer involvement in the purchase.
- Trust of consumers in the network help to increase the overall participation and working.
The dark side of Skyrise marketing involves:
- Meeting the urgency
- Difficult to regulate the purchase cycle of all members for certain products.
- Privacy of customers
- Most of the customers don’t reveal their consumption habits to their neighbors
- Lack of participation from the part of customers is also an important issue.
As a result, COVID 19 has given a rapid change to new buying behavior known us group buying or collective buying behavior through Skyrise Marketing. Even the brands, large retailers, and e-tailers can use this Skyrise marketing effectively to have a win-win situation for both, along with the customers also.