#contactlesspayments #contactlessdelivery #postcovid19
Some numbers for a perspective.
-India Foodservice market was forecasted to reach USD 95.75 billion by 2025,
-registering a CAGR of 10.3% during the forecast period.
Ques: How is this market going to get affected once COIVD19 lockdown is relaxed?
Ans: While online ordering and home delivery of prepared food may retain market, the in-room dining, restaurant dining, fast food restaurants and all other forms of cooked food service where a customer goes to the vendor joint are going to suffer.
-Organized food delivery or chained consumer foodservice represents less than 20% of the whole market, key players being, Swiggy, tomato, Yum brands, Burger kind, Dominos, Starbucks, McDonald’s, Dunkin, CCD, and Subway among others.
while another segmentation by type is
– Quick Service Restaurant 45%
– Casual dining 23%
– Cafes 12%
– Fine Dining 10%
– Pubs, Bars, clubs and lounges 9%
While uptake and return to the previous level of consumption for food prepared outside the home may take some time, the imperative is clear. Business model and ability to attract customers to a food joint will depend upon the ability to present a contactless method of ordering, including pre-ordering and payments.
While the app download method may not be feasible for each restaurant there is another interesting model that is coming up with the recent #jiofacebook deal. Ordering and payments will increasingly get automated through Whatsapp Chabot based ordering.
Companies like mtalkz and paytm have launched frameworks for enabling contactless food retail. While paytm will go the app way , Whatsapp business API from mTalkz will go app less and do the automation with a more popular app called #whatsapp