Research On Global Markets
Syndicated Market Research Report
The number of food orders placed online either through mobiles or restaurant websites has increased significantly in the last few years. Earlier, the online sources were mostly used to find the location of a restaurant. However, the time has changed and physical barriers like distance no longer impact the process of food ordering and delivery. E-commerce in India is the fastest growing e-commerce market in the world and it is experiencing a spurt in online food and restaurant service companies. Here’s a look at some of the key drivers of the online food delivery market in India 1. Demographic situation: Young India’s appetite is one of the key demand drivers of the online food delivery market in India. India has the second largest population in the world and is among the largest consumer markets today. With 50% of the population falling under the age of 35, most of the demand for convenient fast food comes from this young population. 2. Change in lifestyle patterns: With an increasing number of young Indians being productively employed in lucrative industries, sectors like IT services have upped their income and living standards. The emergence of dual-income families has thus changed the way people live drastically; with changes in routines, lifestyle, and food habits. Due to the time crunch and need to spend more time with family, nuclear families prefer to reach out for fast food available online to save time and energy. 3. The rising number of working women: there has been an increase in the number of working women, who spend most of their productive time either at work or traveling, and get very little time to spend on themselves, their family, and cook meals. Ordering food online has become a common practice in households with working wives or mothers. The changing lifestyle of the urban, young Indian is dramatic enough to favor the growth of the online food delivery market in India. Businesses who keep their value proposition and their brand active in consumer’s minds will take the biggest share of the Indian online food market pie.
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In this digital age, customers have moved towards ordering food online as it is easy, convenient and speedy. Restaurants all over India have accepted and embraced the online food delivery trend in order to boost their customer base, increase their sales, improve their online presence and increase their profit margins. By accepting this new technology, restaurants have simplified the lives of their customers and ensured steady business for themselves in today’s competitive market What are the advantages presented by the online food delivery market in India for restaurants? 1. Food at a click model: People can easily use online food delivery apps on their smartphones, tablets or laptops to order food online. Whether they are on a break, in the middle of a daily errand or stuck in traffic, anyone with a smartphone and internet connection can order food from the restaurants listed on the app. 2. Reduces chances of human error: there is always a possibility of an order getting misplaced or noted incorrectly over the phone. This can cause inconvenience to the customer and jeopardize the reputation of the restaurant. An online food delivery system provides the correct information to the restaurant and the customer can check everything before the final order is placed. 3. Low-cost marketing: when a restaurant is featured on an online food delivery app, it gains an online presence without having to spend hefty amounts on billboards or TV commercials. The online food delivery market in India ensures low cost yet effective publicity for restaurants. The online presence translates to a wider customer base and an eventual increase in sales and revenue. 4. Visual appeal attracts more customers- When customers are hungry, they are pushed towards ordering the visually appealing food they see displayed in the online menu. Their hunger drives them to order more food than they would have they witnessed a physical menu at a restaurant. Higher orders translate to a significantly larger stream of revenue for the restaurant. Restaurants need to put in some amount of effort to convert one time customers to regular and loyal customers. Apart from serving good quality food and excellent customer service, restaurants can provide regular discounts, giveaways, and loyalty points to those customers that reach out through online food delivery apps. |
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