An Example Of Change Business Model By Using An App

Wilson Parking

The company operates in Australia, New Zealand, Hong Kong, Singapore and Malaysia.

When the Covid-19 pandemic started (early 2020), the public stopped driving into the cities to park their cars for work, entertainment, shopping, etc, and the demand for car parking fell by 80% (Stephan Wuffli, 2021). The company had a choice: slow things down until things improve completely or shift the long-term focus of the business using innovation. This meant transforming the purpose of the company from managing car parking facilities to one centred on making life easier for its customers by using technology. This meant a move away from the traditional parking offering of tickets and payment machines and a move to digital payment and access experience. To do this they developed a Wilson Parking App which allows customers to search for and book parking spots; everything is arranged and paid for via the app. This was a substantial shift from the traditional global car parking model that had remained relatively unchanged for decades.
"...customers have flocked to it, with 60% of the business's daily commuters now booking their parking through the app. It generates 81% of the company's online revenue and it is Australia's highest-ranked at off-street parking. Since March 2020, bookings via the app have increased by 170%......customers are using the app primarily because it's convenient. They can search for the nearest car parks with available spaces, and people can book their car park before leaving the house..."
Stephan Wuffli, 2021

Also, the company's focus has changed with innovation now at the forefront of their strategy; previously business plans were very contract and portfolio-focused; they now are customer-centric. For example, company is working on a new subscription-type parking plan and transparent payment model.

Other pandemic-related trends that have driven the app's success include

- people avoiding public transport in favour of driving

- with customers having more flexible working hours they want the same with their parking arrangements

- the app is contactless

- customers don't have to carry tickets, push buttons or stand in line at ticket machines