Platform economy is all about the shift from supply to customer demand; Online platforms that try to meet those demands as much as possible. There are basically two kinds: platforms that are matching theirs client's demand, and there are platforms that sell products themselves on their own platforms.
Characteristics of Platform Economy:
- Customer foces
Is about meeting and matching of customer demands.
- Technological developments
These make is possible to predicts client behavior, making is more convenient for companies to effectively respond to that.
- On demand
Products or services that are available whenever and wherever the customer wishes.
- Sharing economy
A socio-economic system based on collective consumption and sharing.
The platform economy has developed from disruptor to new reality. More often, companies need to choose between getting on board, or missing the boat. Some even speak of 'bend or break'.
The main question for many companies is which platform to join. That depends on several aspects such as: what branche the company is operational, what the service platform offers and of course where customers demands are best matched.