Like many human activities, social interactions have changed and evolved throughout time. The act of finding a pair drastically changed driven by the rise of technology, demographic changes as well as the ever-evolving consumer behavior. Long gone are the times where the only means of meeting people had to be done physically – like many other things, the solution today is, literally, at the tip of our fingers. From the conventional offline way where, one places an ad in the local newspaper, to the start of the Internet and online dating, mate finding for humans has evolved. Today the choice is wide, and the options are numerous – stored in our phones, we can find apps that meet that purpose in different shapes, colors and tastes. Dating has become a game that many have taken part in and many will continue to do so in the future.
- The dating industry has now become a multi-billion-dollar business. Several first movers have early on established a strong dominance and have been successful in capturing the demand, fulfilling user needs. Many experts say the dating apps industry is just starting, with so much room to grow and opportunities to seize.
- In today’s modern society, two main phenomenon have been feeding the dating market: the gradual increase in the number of singles coupled with an increased penetration of technology, and particularly apps.
- Looking at the ESG ratings of listed companies in the dating industry, the most common material ESG issues that major sustainability rating agencies consider for companies within this activity are the data privacy and security, business ethics, and product governance.
- Online dating is a double-edged sword. One thing for sure is that the industry is going in the right direction, investment in R&D has been continuously rising to ensure the best user experience. Subscription based models are the perfect motivation to constantly improve the ecosystem, to be on the listen of paying users’ needs and ultimately to be at the forefront of societal interaction and ultimately matching.
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