Will Online Food Delivery market take over the Fine Dining Food Market in the long run?

Online Food delivery is still in its nascent stage despite gaining a lot of attention recently because of the increase in the number of food tech startups focusing on food delivery concept. As per the report by Kotak Institutional Equities, “though the food delivery and takeaway market in India was valued at $12.8 billion in 2014, the online food delivery market size is only about 0.7% of it i.e only 95 million”. In-spite of being a very small part of the huge Indian food industry, there is a very huge potential of online food delivery because of various benefits it offers, which i have stated below. Please share your views and suggestions in the comments section after reading the bullet points.

  • Mobile Apps make ordering online easy – Due to an upsurge in the use of mobile apps among consumers, it is easier for customers to download the food ordering app for placing an order and pay for it online in advance. Thanks to this time saving technology which displays the menus of the restaurants to the app users, the customers are more likely to order food from the convenience of their homes than spend time waiting for the waiter at the restaurants to take their order.
  • Ease of using online coupons – With a rapid increase in the number of Food tech start-ups significantly in the area of online food delivery, there has been an increase in the number of discount coupons offered by these companies to make the customers to place an order from their platform and also, in order to retain the customers, they offer them discounts on a regular basis. So, ordering food online is cheaper than dining out at the restaurant most of the time.
  • Online tiffin services – Last few years have seen online tiffin delivery services getting popular among corporates which include Yummytiffin.com (Mumbai) and Homecurry.com (Delhi). Also, from websites like Corporatedhaba.com (Delhi), one can order weekly or monthly meals to be delivered to the office on working days. The newest trend in this category is of the addition of the healthy meal quotient. So, keeping this in mind, websites like iTiffin.in (Bangalore), Caloriesmart.in (Gurgaon), Caloriecare.com (Mumbai) deliver nutritious tiffin based on the calorie intake and health benefits of the meal.
  • People are busier than ever – With a rise in competition to succeed, people are busier these days than they ever were, due to which, the chances of them dining out at a restaurant get reduced. Since dining out costs a lot of time and patience, ordering food online saves a lot of energy and efforts of the customer as the food is delivered at the doorstep with so many options of payment like credit card/debit card/net banking/cash on delivery etc.
  • Marketing playing a bigger role – There is a presence of multiple players providing online food delivery services in India like foodpanda, swiggy, tinyowl, zomato etc. In order to get public attention, these platforms follow aggressive marketing techniques from time to time. Thus, customers are attracted to their intensive marketing which is one of the biggest factors for a spur in the food delivery segment of the Indian food industry.

Originally posted on: https://www.linkedin.com/pulse/online-food-delivery-market-take-over-fine-dining-long-juhi-chibber?trk=prof-post

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