Hot Insights into India’s Sizzling QSR Business
Indians spend about `100-400 at Quick Service Restaurants (QSR) on average as per India Food Report 2024-2025 released recently at the India Food Forum, which brought together the stakeholders of the food industry for a common dialogue on the way forward.
With millennials forming 65% of the population, QSRs, estimated at `336 billion, are undergoing a significant shift. Today, they have evolved into something far more encompassing than just offering affordable and convenient food fast. It’s all about providing a complete experience. The change is driven by a multifaceted approach that extends beyond the speed of service. It’s about crafting an entire dining encounter that resonates with the millennial ethos.
Interestingly, the QSR industry has rapidly expanded in financial year 2023 not just in the metros but also in tier 2 and tier 3 towns of the country. This growth is driven by aspirational demand, digital payment convenience, and the influence of social media. Owing to its vast potential, the segment has attracted several more foreign players such as Tim Hortons and Popeyes among others to the country. Today, there is a healthy mix of homegrown and foreign players offering a wide range of options to consumers.
On the menu, this issue, are many articles around the theme of QSRs. The cover story is about Jubilant Foodworks which operates India’s largest QSR chain— Domino’s Pizza which has about 1900 outlets in the country.Also featured are other key brands in the market including Wow! Momo, Coffee Culture, Chai Sutta Bar and Baskin Robins.
Adorning the cover of the Shopping Centre News section is Arjun Gehlot, Director – Ambience Group where he speaks about the group’s journey and innovations. On the cover of the Phygital section is Rajgopal Nayak, Chief Technology Officer, Metro Brands Ltd. Nayak gives an insight into the company’s approach to technology and tech-driven growth.
The issue, as always, has many other features to help you in your business. Happy Reading!