Overview

At your service: Rising corporate profit and disposable incomes will help industry revenue grow

IBISWorld’s industry research report on Business Concierge Services provides up-to-date sales and market data, allowing you to identify the product and customer segments driving revenue growth. The report identifies the leading companies in the industry, and offers strategic analysis of the key factors influencing the market. Our data forecasts are accompanied by full analysis to illustrate how the market is responding to dominant and emerging trends.

REPORT SNAPSHOT

Market Share of Companies
Industry Statistics & Market Size
Revenue
$297m
Annual Growth
11-16
4.2%
Annual Growth
16-21
Profit
Employment
2,646
Business
731

Industry Threats & Opportunities

  • As the economy recovers, time-poor professionals will seek out industry services
  • Demand from corporate clients rapidly rebounded due to rising corporate profit
  • Rising employment will reduce the number of hours consumers spend on household management

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    Industry Analysis & Industry Trends

    Once exclusively the domain of celebrities and affluent professionals, the Business Concierge Services industry has increasingly targeted private households and corporate employees to fulfill a variety of their household management tasks. This expansion in clientele has helped the industry thrive, as revenue increased in each of the past five years. In the five years to 2016, an increase in disposable income and higher corporate profit margins helped drive industry demand, as businesses and consumers had the extra discretionary income to spend on concierge services. Industry revenue also improved thanks to a decade-long decline in the amount of leisure time for the average American...

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    Industry Report - Industry Locations Chapter

    Based on data from the Bureau of Labor Statistics, IBISWorld estimates the Southeast, West and Mid-Atlantic to be the top three regions in terms of establishment concentration for the Business Concierge Services industry. In general, industry activity tends to follow population densities. Larger populations in major metropolitan areas are more likely to be home to large corporations that may solicit business concierges. Also, large populations raise the potential for people to start their own concierge businesses because barriers to entry are considered low, and many owner-operator firms characterize the industry. By state, Florida, California and New York are estimated to have the top three establishment densities, comprising 12.3%, 12.2% and 8.0% o..

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    Additional Insights for the Business Concierge Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Business Concierge Services Industry are

  • Ability to vary services to suit different needs
  • Business expertise of operators
  • Development of a symbiotic relationships with another industry
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Number of businesses in the Business Concierge Services industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Business Concierge Services Industry?

    Business concierges provide on-demand services for business executives, clients, employees and individuals. Companies offer a wide variety of services, including running errands, conducting grocery and personal shopping, making travel and restaurant reservations, and home management. Services may be provided in-person or remotely via telecommunications. Companies that function like brokers to match client requests with available freelance concierges are excluded from this industry.

    Industry Products
    Other tasks
    Shopping
    Entertainment and dining arrangements
    Travel arrangements
    Courier services (e.g. bank deposits)
    Industry Activities
    Arranging travel
    Shopping
    Providing courier functions
    Providing small event and party planning
    Arranging dining and entertainment
    Fulfilling other tasks associated with a business trip

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Number of businesses
  • Time spent on leisure and sports
  • Households earning more than $100,000
  • Number of broadband connections

  • Current Performance
  • Busy lifestyles yield gains for the industry
  • Five consecutive years of growth
  • A growing field
  • Chart: Revenue Growth

  • Industry Outlook
  • More companies enter the field
  • Growth areas
  • Table: Business Concierge Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Business Concierge Services Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Management of Companies and Enterprises
  • Celebrity & Sports Agents
  • Consumers

  • Key Selling Industries
  • Communication Equipment Manufacturing
  • Internet Service Providers
  • Telecommunication Networking Equipment Manufacturing

  • Products & Services
  • Entertainment and dining arrangements
  • Shopping
  • Travel arrangements
  • Other tasks
  • Courier services (e.g. bank deposits)
  • Chart: Business Concierge Services Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Large corporations
  • Real estate operators
  • Other service businesses
  • Medical and healthcare
  • Political and nonprofit organizations
  • Chart: Major Market Segmentation for the Business Concierge Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWages and depreciationPurchasesMarketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Business Concierge Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Business Concierge Services Industry

  • Industry Globalization
    Major Companies
    Circles Inc.
  • Table: Circles Inc. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Business Concierge Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Business Concierge Services Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Corporate Profit (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    International Concierge And Lifestyle Management
  • Abbreviated ICLMA, this organization provides industry support and outreach on a global basis.
  • Concierge
  • A person entrusted to perform various tasks and duties for clients or a company; from the French phrase meaning "keeper of the candles."
  • Smartphone
  • A mobile phone equipped with data-streaming capabilities like GPS, online content and digital media.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Business Concierge Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Business Concierge Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Business Concierge Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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