The field of consumer services is a truly broad industry where every day hundreds of companies strive to give their best to consumers. It is a field that necessarily depends on the human attention and treatment given to users or customers.
Although this is a field in which companies offer a great variety of possibilities to their customers, they are usually directly related to the personal treatment with the customer. It is, therefore, that within this field are found from retail store salespeople to specialized banking assistants. This tends to broaden the range of characterization of the companies belonging to this market.
What companies make up this field?
The consumer services field is a vast and varied industry that encompasses a wide range of companies and organizations. Some of the most prominent companies in this field are those that provide retail services, such as grocery stores, clothing retailers, and electronics retailers.
Other companies in this sector include those that provide transportation services, such as ridesharing companies, airlines, and public transportation providers. There are also companies that provide leisure and entertainment services, such as movie theaters, amusement parks, and sports teams. Some companies also specialize in providing healthcare, financial or educational services.
With the rise of e-commerce, many consumer services companies have also shifted their focus to online sales and digital marketing. So we can say that overall, the consumer services sector is a critical component of the global economy, providing essential goods and services to individuals and households around the world; general characteristics of the companies belonging to this field.
When we talk about the field of consumer services, we refer to an industry that by 2015 counted around 450,000 companies. Figures that, of course, have grown with the passage of time, giving entry to more and more companies that present services to the consumer. Thus, putting together a generalized characterization of these companies could become really complicated.
Thus, we are talking about a series of companies where, through certain support services, the possibility of involving consumer-facing processes is raised. This usually facilitates the procurement of tangible items that serve as a representation of the service provided. However, this does not mean that non-tangible service companies do not belong to this market.
Thus, a company could be considered to belong to this market if it meets the following characteristics:
- It manages to establish a relationship with its customer
- Receives constant feedback from customers
- Shares information with customers on an ongoing basis
- Seeks to venture into the market by offering the best value for money
- Provides a service
- Has customer support supports
How do these types of companies differ?
Consumer services companies have specific characteristics that differentiate them from other business models. One of the most important is that they focus on providing services to customers in addition to tangible products. This means that these companies rely heavily on customer satisfaction and retention to succeed.
They are forced to have excellent customer service skills and be able to meet their customers’ needs quickly and efficiently. This in turn requires a deep understanding of consumer needs and preferences and the ability to tailor services to meet those needs.
In addition, consumer services companies often operate in highly competitive and constantly evolving industries, which means they must be innovative and adaptable. They must be able to keep track of emerging technologies and market trends and be willing to invest in new technologies and services to stay ahead of the competition.
Examples of companies in the consumer services field
The consumer services sector is a vast and growing field that encompasses a wide range of companies serving the needs of the general public. Some of the best-known companies in this field include Amazon, Netflix, Uber, Airbnb, and Grubhub. These companies have revolutionized the way we shop, watch movies, travel, and order food, respectively
Amazon is the world’s largest online retailer and offers its customers a wide selection of products at competitive prices. Netflix is a leading streaming service that offers a wide range of TV shows and movies; apart from that, Netflix provides discounts for students as part of its inclusion policies.
Airbnb offers a platform for homeowners to rent out their properties to travelers, while Grubhub allows customers to order food from their favorite restaurants and have it delivered to their doorstep.
Tangible or non-tangible, a company can meet expectations
All of these companies have achieved success by offering innovative and convenient services that meet the needs of today’s consumers. As the consumer services industry continues to grow and evolve, expect even more companies to emerge that offer new and interesting ways to meet consumer needs.
Thus, for a company to belong to this field, its services must not be purely tangible but must satisfy the needs of a group of customers. Other classic companies we can find in this field would be: The Walt Disney Company, Pfizer, and AT&T. In addition, we cannot fail to mention Costco, a store so complete that it even offers Costco dental insurance.
Each one fulfilling a specific role within its own market, but with the characteristic of meeting the customer’s needs. Differentiating themselves from other companies where the help to the direct client is not proposed, but it is seen from a more business field. Although this provides them with economic results, it does not allow them to make the direct commercial leap to the end user.
References
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“About.” Uber, https://www.uber.com/us/en/about/.
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“About Amazon.” US About Amazon, https://www.aboutamazon.com/.
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“About – Grubhub.” Grubhub, https://about.grubhub.com/.
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“About Netflix – Homepage.” About Netflix, https://about.netflix.com/en.
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“About Us.” News AirBnB, https://news.airbnb.com/about-us/.