the future of the service industry

The emergence of “service marketplaces” is set to completely transform online commerce as we know it.

The notion of marketplaces has existed for over 2 millennia, always favoring the sale of products. When marketplaces made the transition to digital e-commerce, the sale of products still held dominant. Only recently have western economies moved towards the development of services in the marketplace – both in real life and digitally.

Given the Uberisation of the economy, wherein tech unicorns like Airbnb and Uber are digitizing services in the marketplace, 2 things remain constant: all these companies offer a service and that service is always provided by a third party.

The service industry is quickly joining the marketplace as it allows companies to scale and outsource in a way that was previously unattainable. As a result, marketplaces have become the prevailing solution to the sale of online services, while traditional e-commerce took 15 years to become the norm.

Although a growing number of tech unicorns are paving the way for the rest of the service industry, movement towards the digitalization of services is still slow. One can buy all kinds of products online, yet only a small variety of services are available… Why? Many current e-commerce developers don’t support all the needs of services. Thus requiring service companies to develop special features by investing large amounts capital, which is really only available to larger well-funded companies.

In September 2015 we launched the V1 of Cocorico, the world’s most feature-rich solution dedicated to service marketplaces. This open source solution’s features range from booking management workflows to conversion funnel optimization. Cocorico features 1,600 functionalities and 20 different extensions, so that 90% of your needs can be met natively.

As for the remaining 10%? That’s us. With almost 10 years and 40 diverse platforms under out belts, letting us customize your marketplace will give you the competitive advantage in your sector. Whether you’re in accommodation, personal services, construction, tourism or agriculture, we’ve done it, and our experienced guidance will give you what you need to reinvent your industry.

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