This article was originally published in full by AdWeek on February 3, 2022.
Today’s consumers have come to rely on geolocation-advised advertising to make their lives easier, whether it’s for necessity, like finding a nearby petrol station quickly - or convenience, like confirming selection availability before traveling to the store - or time-savings and choice, like knowing your options for food delivery nearby. No wonder, then, that the hyperlocal services market is estimated to reach $3.6 trillion by 2027, growing 17.9% from 2021. Even with a post-pandemic return to normalcy, the consumer trend toward localism is expected to persist due to a rise in the conscious consumer, seeking authentic, locally and sustainably-made products that support local businesses.
McKinsey calls out localized purchasing in their analysis of six major post-COVID shifts in consumer behavior, and highlights new approaches required to take advantage of this trend:
“Managing this hyperlocal activity and engagement will require marketers to rewire their operating model to provide a more granular presence at scale. This approach will need to build on many of the capabilities developed around personalization (particularly analytics, trigger-based messaging, and agile test-and-learn approaches)...”
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