Description
The food services industry is transforming rapidly with the advent of a whole range of food tech concepts for food exploration, discovery, reservations, delivery, feedback, and internet restaurants, among others. For example, mobile app-based food ordering has made the ordering process extremely convenient – it can be done using just a smartphone and the whole process can be accomplished sitting at home with little or no effort. Thanks to the growing penetration and access of the internet and smartphones, we are seeing an increasing all-round efficiency of the delivery business in India in terms of the order-taking process, the packaging, the delivery time, coverage, value offers, and the growth of online channels. Dining in and food delivery, which accounts for 18- 22% of the market now, has the potential to reach 35-40% in the next few years, presenting a big business opportunity for restaurants – provided they extend the comfortable experience of a restaurant to delivery, packaging or any tech interface they may have with the consumer.
With people becoming more health conscious and with healthy eating increasingly on the consumer’s agenda, cloud kitchens that have come in are also focusing on healthy food options. Restaurants are transparent about their ingredients and product claims and serve healthy and nutritious food to create an impression as there are enough choices available to the consumer now. The speed of change that is happening in terms of the consumption market is really high with some industries growing at a dramatic pace. One needs to understand the speed of change that is happening in some businesses and see what the game changers are doing, how the market is going to evolve, how it could infl uence the future and thus, act accordingly.
