The food and beverages (F&B) market has come a long way from being restricted to a few days of eating out or special occasions of ordering in. With the advent of companies such as Swiggy, the way people look at food consumption has changed dramatically. That favourite dish from your favourite restaurant no longer means waiting for a weekend. One click and you are away!
As the food landscape has transformed, new concepts have found their way in. The most popular among them is something that has brought cheer and anguish in equal measure. Cloud kitchens or dark kitchens are essentially food joints with no storefront and a delivery-only model. This model, by cutting down on so many different costs compared to a traditional restaurant, helps keep the margins going at a time when consumers are becoming more and more price-conscious. The online food delivery market, which was valued at Rs 45.58 billion in 2017, is expected to grow at a compounded annual growth rate of about 38.08 per cent between 2018 and 2023, according to a report by Research on Global Markets published last year. Of the total market size, dark kitchens constituted 30 per cent in 2017, the report said.
The dark kitchen conference at Indian Restaurant Congress 2019 saw the participation of several names from across the Indian F&B industry, where topics ebbed and flowed from the different needs both restaurants and dark kitchens serve to the increasing usage of data in the space.
Experiences Cannot Change
According to chef Harpal Singh Sokhi, the F&B space is going through a learning curve at the moment and brands, irrespective of their model, need to focus on customer experience. While the idea of eating out at a restaurant does involve an experience for the customer, even those ordering in expect an experience from their food, said Sokhi.
“Experience of taste cannot change, that is the bottomline,” he said.
This story is from the January 2020 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 2020 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
THE SUBMERGED ADVENTURES
Spearheading GetVantage, one of the leading alternate financing companies in the country, Bhavik Vasa knows that sometimes entrepreneurial journey can get tough and stressful, but he has his own way of clearing his mind -- a few feet underwater.
Robust Charging Infra Key To India's EV30@30 Ambition
WHILE GOVERNMENT AIMS TO HAVE 30% OF 2030 CAR SALES AS EVS IN THE COUNTRY, THE VISION SEEMS UNATTAINABLE WITH JUST OVER 12,000 PUBLIC CHARGING STATIONS IN THE COUNTRY AT PRESENT.
OWNING A SLICE OF PROPERTY
Real estate is a critical component of one's portfolio as it provides income, capital appreciation, inflation protection, and diversification.
THE FUTURE OF FINTECH
It's all about setting the house in order
ETCHING SEMICON DREAMS
Historically concentrated in regions like the US, East Asia, and Europe, there's a rising interest in expanding semiconductor assembly and packaging capabilities to emerging markets like India.\"
6 Lessons I Learnt In My First Startup Venture
EVEN THOUGH YOU PICK A BIG MARKET, IT’S IMPORTANT TO PICK A SMALL SEGMENT OF IT TO FOCUS ON FIRST AND UTTERLY DOMINATE BEFORE YOU SLOWLY EXPAND.
How AI and ML are revolutionising healthcare industry
Al ALGORITHMS CAN NOW ANALYZE VAST AMOUNTS OF BIOLOGICAL DATA TO IDENTIFY POTENTIAL DRUG CANDIDATES, PREDICT THEIR EFFICACY, AND OPTIMIZE DRUG DISCOVERY PROCESSES.
5 Lessons I Learnt As An Entrepreneur Over The Last Decade
TODAY, WE ARE A PROFITABLE BUSINESS WITH 2.5 TIMES OF OVER PRECOVID BUSINESS VOLUMES.
Revolutionizing the two-wheeler industry with technology
TO CATER TO THE INCREASING DEMAND FOR TWOWHEELERS, THE INDUSTRY IS CONTINUOUSLY EMBRACING THE LATEST TECHNOLOGIES TO ENHANCE EFFICIENCY, PRODUCTIVITY, AND SUSTAINABILITY.
Who's Stealing Your Time?
Do you have less time for the things you love? You might be blaming the wrong people.