The consumer services field is one of the most significant segments of the US economy, with over 455,000 registered companies and annual revenue exceeding $300 billion as of 2015.
- Companies in the consumer services field include Amazon, Costco, Walt Disney Company, Comcast, Airbnb, Unitedhealthcare, and Square.
- The consumer services industry in the United States has a combined annual revenue of well over $300 billion.
- Currently, over 455,000 consumer services businesses in the US are spread out in critical industries such as education, health services, IT, retail, and hospitality.
- Tech-focused consumer services are in high demand as more startups seek to scale up their cloud-based solutions.
- Four out of five of the largest companies by market cap on the Dow Jones are consumer services companies, including Microsoft, Alphabet (Google), Amazon, and Apple.
At the very core of the consumer services field are companies that provide services to individual consumers across various industries, such as hospitality, education, information tech, health services, and media. These consumer services often offer intangible value and have no physical forms.
In an effort to keep up with the changing business environment, consumer services companies are undergoing massive changes in digitization, automation, and outsourcing. This recent drive to digitize consumer services platforms creates an insatiable demand for IT personnel.
Read on to discover which consumer services companies are hiring bootcamp graduates and what to expect from the industry at large.
What is the consumer services field?
The consumer services field comprises companies that offer customers intangible value in the form of experience instead of physical goods. The services business model is spread out in a wide range of industries, and the primary focus is on providing services to individuals rather than organizations.
Consumer services range from ecommerce to travel and media. A growing segment in this sector is the information technology services that are focused on the consumer experience. Digital services aimed at delivering specialized digital solutions to consumers are also on the rise, including content creation, digital marketing, and education.
Types of Consumer services companies
Finance companies
There are over 10,000 finance companies in the United States. These non-bank renders offer a wide range of services to ordinary consumers, such as current and savings accounts, payment services, mortgages, investment products, and credit cards.
Finance companies are always on the hunt for bootcamp graduates in their efforts to automate investments and risk management. These companies often deal with open APIs that need integration into their tech stacks in order to provide digital financial services.
Technical knowledge in artificial intelligence (AI), blockchain, and big data are some of the most sought-after skills in financial consumer companies. Some of the top companies in consumer finance include Capital One Financial, Wells Fargo, and JPMorgan Chase.
Insurance companies
There are 5,954 registered insurers in the United States. Property insurers account for the most significant chunk of these companies, followed by health insurers. Life and annuity insurers are also a growing segment of insurance services.
The greatest demand for insurance-related tech jobs is for data analytics, followed by integration and cloud services architecture designers. Insurance companies are always looking for digital marketers to grow leads, as well as data scientists and programmers.
E-Commerce companies
This is probably the fastest-growing segment in the consumer services sector. Ecommerce growth can be attributed to the digital revolution in the consumer journey as more buyers prefer to make online purchases as opposed to going to physical stores. It’s estimated that e-commerce sales generated $4.9 trillion in 2021.
E-Commerce is now one of the most robust job sectors in the United States, creating around 1.4 million jobs as of 2021. There’s no shortage of tech-related jobs in the ecommerce industry ranging from digital markets to programmers, data scientists, ICT technicians, AI experts, and more. Some of the largest employers in e-commerce include Amazon, eBay, Walmart, and Wish.
Hospitality companies
Hospitality companies provide a positive experience to consumers looking for food and hotel services. This sector is made up of several major fields, such as food and drink services, lodging, travel, tourism, event planning, and theme parks.
The hospitality industry currently has over 8.5 million workers, and the sector generated over 1 trillion dollars in 2019. The American cruise lines, travel and tour companies, and hotels comprise the largest hospitality industry segments.
The sector has a large appetite for tech jobs, with web developers and programmers accounting for the largest group of IT jobs, followed by data analysis and IT systems managers. Some of the largest companies in the sector include Marriott International, Best Western, and Carlson companies.
Entertainment and media companies
The arts, recreation, and entertainment industry is an $800 billion sector in the USA, with over 3 million jobs as of 2021. The media and entertainment industries include filmed entertainment, radio, music, publishing, and video games.
Some of the fastest growing segments in entertainment include digital media such as Netflix, Disney, and Comcast and game publishers such as Electronic Arts, Epic Games, and Blizzard Entertainment. These companies are always on the lookout for game developers, AI experts, software developers, analytics engineers, social media campaign managers, and graphics and animation designers.
Companies Offering Tech Jobs in the Consumer Services Field
Amazon
Amazon is a consumer services company with significant investments in ecommerce, digital streaming, artificial intelligence, and cloud computing. The company is one of the most influential companies of the internet age, and its force is felt in economics and culture globally. Founded in 1994, the technology company has grown into a $460 billion revenue company with over 1.5 million employees.
Besides the Amazon ecommerce services and Prime subscription, the company also offers a wide range of consumer-based services such as film and television content, audiobooks through Audible, Twitch streaming, Amazon Music, and AWS cloud computing service.
Tech jobs offered:
- Senior software engineers
- AWS network development engineers
- Device software engineers
- Digital marketers
- Machine learning and AI engineers
Costco
Costco wholesale corporation was established in 1983 with a membership warehousing network spanning the entire United States. Costco has earned its popularity owing to its competitive prices and selling large quantities of all types of consumer products, including personal computers. The retail chain offers consumers services such as pharmacy, image printing, optical services, deliveries, and insurance services.
At its core, Costco is a membership warehouse club focusing on quality merchandise and delivering the best possible prices for brand-name products in its specialty departments. As a result, it can offer member services such as payment processing, business health insurance, identity protection, and bottled water delivery to its members.
Tech jobs offered:
- Software developers
- Logistics experts
- Software development engineers
- Full stack engineers
- Operating systems engineers
- Quality assurance analysts
- IT project managers
Comcast
Comcast was founded in 1912 and is the first company in the US to venture into cable media. Over the years, it has grown to be the world’s second-largest cable television and broadcasting company. Its businesses extend beyond media and entertainment to home internet service provision, digital distribution, ad-tech services, theme parks, and venture capital.
Xfinity is the company’s cable brand that provides consumers with home telephone services, broadband internet, and cable television services. Its NBCUniversal brand provides third-party TV programming content to consumers from partially to wholly-owned channels.
Tech jobs offered:
- Cyber security engineers
- Threat detection engineers
- Technical program managers
- Python engineers
- Cyber security architects
Walt Disney
Walt Disney Company is an entertainment and information behemoth with a $200 billion market cap. The media and entertainment enterprise owns Disney Parks, Disney Media, and Entertainment Distribution. It also manages four content groups- theatrical and linear platforms, general entertainment, studios, and sports and international-focused content.
Disney parks and experiences cater to consumer hospitality services such as theme parks, resorts, cruises, and vacation experiences. The Disney media and entertainment distribution arm offers direct-to-consumer streaming services and ad sales,
Tech jobs offered:
- System reliability engineers
- Media systems administrators
- Information security experts
- Network engineers
- Media engineers
- Technical support specialists
Airbnb
Airbnb was founded in 2007 in San Francisco and has grown to over 6 million active listings globally, operating in more than 200 countries and regions. The company offers guests the unique option to rent out spaces from third-party lodging and rental providers. Their primary market revolves around offering homestays for vacations and tourism activities.
The company offers premium services to consumers looking to rent out vetted homes that provide comfort, quality services, and luxury vacation rentals. The company also owns Rausch Street Films, which produces and finances short films.
Tech jobs offered:
- IT support specialists
- Systems engineers
- Network engineers
- Automation and observability engineers
UnitedHealthcare
UnitedHealthcare is the largest healthcare insurance company in the world. Based in Minnesota, this healthcare giant specializes in insurance services and healthcare products. The company has four main divisions: employer and individual health plans, medicare and retirement services, community and state services, and global insurance services.
UnitedHealthcare partners with 1.3 million care professionals and physicians across the United States to help consumers access the proper care. The company’s global reach serves more than 6 million people in South America. Currently, the insurance behemoth has more than 125,000 employees.
Tech jobs offered:
- Software engineers
- Network and infrastructure engineers
- Business systems analysts
- Data science experts
- Data engineers
Square
Square is an American e-commerce and payment solutions company founded in 2009 with its headquarters in San Francisco. The platform enables consumers to make and receive payments online through the Cash App mobile application. The financial institution also offers point-of-sale (POS) hardware to store owners that integrates analytics and accounting capabilities with annual sales tracking and inventory management services.
The Square online store platform makes it easy to create ecommerce websites that are capable of selling services and products, accepting online payments, and order fulfillment and shipping. These services enable customers to start their small businesses without any coding experience.
Tech jobs offered:
- Software engineers
- Information security engineers
- Data Analytics
- Threat detection engineers
Frequently Asked Questions (FAQs)
What are the services offered by consumer services businesses?
Consumer services companies offer goods and services to final consumers ranging from foods and beverages to hair products, household products, and pharmaceuticals.
What companies are in the consumer services field?
Some of the companies in the consumer services field include Amazon, Costco, Comcast, and Walt Disney.
What types of companies are in the consumer services field?
The consumer services field comprises entertainment and media companies, hospitality, food and beverages, ecommerce, insurance, and finance companies.
Do consumer services companies offer a good tech career path?
Consumer services tend to pay well, and they offer good incentives making them a great career path.
How much do tech jobs pay in the consumer services field?
On average, consumer services companies pay $60,000 to $100,000 to tech workers.
Conclusion
The consumer services industry is expected to continue its upward growth, creating more IT experts jobs. These jobs are in high demand as more top companies seek to digitize their operations and tap the ecommerce market.