Hyperlocal markets can be related to focusing on small markets, vicinity or communities and providing services to the customer
Public needs something and service provider provides that thing. Simple problem statements are solved, but identifying that simple *problem statement* is not easy and then *building a solution* and then executing it right is the most difficult thing through some *marketing methods*.
Simple Funda: Customer wants right things and customer wants things right away but expectations and demands need to be met.
Think about “digital touch points” while delivering services to customer – A big open topic for debate and lot of innovation can happen in this section.
An awesome case study which comes to my mind is “Jugnoo” the best-est of best case study for hyperlocal markets as they not only provides on-demand auto services but they provide you lot of services like Meals-Homely cooked food at cheap prices, Menus-All top class restaurants, Bike taxi, Fresh-Vegetables and fruits at your doorstep in just ONE app.
I personally feel Uber(Or Uber Eats), OLA which say that they are big giants will always fail to do these many things in one app. They are just on-demand apps for cab service which serves ~1% of hyperlocal market/customer needs. Whereas Zomato also fails as it only searches for restaurants or food.
You pull out your mobile and find something on google for nearby locations and think one app which solves your problem for everything, every time you need anything and then hyperlocal target is met.
Its not a term its a market which is useful for end-customers because competition in each vertical is increasing and discounts are offered as well. By 2020 it will get a boom or the bubble will burst out(Only few players will left and survive).