Images Retail - December 2023

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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.