Wednesday, October 21, 2020
Home Industries Food and Beverages Online food delivery business faces a fundamental shift

Online food delivery business faces a fundamental shift

Online food delivery businesses are witnessing a fundamental shift. The increasing use of digital platforms offers choice and convenience, enabling consumers to order food from a wide variety of restaurants.

Having quality food at your doorstep within 30 minutes using an app today is nothing less than a blessing that a person can enjoy after a busy working day. As people are constantly searching for comfort and convenience, the food industry had left no stone unturned when it came in correlation with changes in the country’s social, economic, and demographic factors during COVID-19. Online food delivery service has many benefits such as it serves fresh food at the customer’s doorstep, offering different payment choices and cashback deals. Also, no one can ignore the enticing discounts that show up on their smartphone device.

Popular food giants such as Swiggy, Zomato, Faasos, Dominos and Food Panda grab the present food market. The world is currently seeing the phenomenal growth in online food delivery services with the emergence of technological developments in the food delivery business.

According to FatBit,

“The global food ordering and delivery market is valued at $95 billion and is expected to grow further at a CAGR of 9.8% by 2026.”

With the constant deluge of food experts and accelerated urbanization of the market, the online food delivery and eatery section are thriving at a rankling rate at present. A growing number of mobile phones and food delivery apps are contributing to this scenario.

Technology makes its way in every industry. Food tech is the trending topic and after technology startups in the e-commerce sectors have made their mark, the ever-hungry businessmen are now looking to satiate others’ appetites. Food tech is a huge industry, and online food delivery startups are only a part of it.

With demand for online food delivery is rising quicker than ever, food retailers have a unique chance to raise profit margins and attract consumers. The challenge would be to match consumer demand for quick delivery with the complexities of the logistics and costs needed to satisfy such requirements.

According to Business Wire,

“The online food delivery market in India is expected to expand at compound annual growth rates of ~30.55% during the 2020-2024 period.”

The pattern of online food ordering is hugely influenced during pandemic. Online food giants Zomato and Swiggy have implemented a few changes in their operations. Apart from ordering food delicacies, Swiggy and Zomato are also delivering groceries. By collaborating with neighborhood stores and distribution centers, they have made the purchase and home delivery of groceries readily available.

Another fantastic change that these food giants will implement is the delivery of food via drones. Yes, you read that right. Zomato and Swiggy have got the permit to test drone delivery. This can be seen as one of the most revolutionary changes in the food sector. Owing to these changes, it is a peak-time for brands in the online food ordering and delivery business to make the best possible use of these technological advancements. 

The food industry has undergone a significant transformation over the past few years. Amid the developments in the food delivery service sector, more than half of all customer orders are delivered directly from apps or websites of the restaurants. Restaurants and other food businesses now manage digital ordering and food distribution in different ways.

Niharika Mahendra
Niharika Mahendra
Niharika always had a passion for writing, which made her choose content writing as her career. She is also a marketer by profession. She loves nature, and the mountains never cease to amaze her.
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments

SUBSCRIBE

Most Popular

Say hello to creative industry: New hub for startups

With more and more people engaging in the consumption and creation of creative content across platforms, the opportunities for the startup businesses in the creative industry have been observing a growth in the COVID-19 period. Therefore, it is safe to say that in near future the creative industry can be considered as new hub for startups and startup business ideas.

Lido Learning to Raise $30 Million via Curefit, Bytedance

The ongoing pandemic has brought education technology to the forefront. EdTech startup, Lido Learning to raise $30 Million as a part of its extended Series B funding.

Can startups turning CO2 into vodka save the climate?

The carbon-negative vodka is made from the air (CO2) and water. The theory from startups turning CO2 into vodka promises to help stem global warming.

Mental health and well-being of children: An eye-opener

Jammu schools constitute a psychological task force in addition to the pre-established counseling services to fight the growing mental health and well-being issues.
error: Content is protected !!
0
Would love your thoughts, please comment.x
()
x