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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