While many industries reel under demand slowdown, food aggregator app Swiggy said that there is no slowdown in the fast-food trend.
While many industries reel under demand slowdown, food aggregator app Swiggy said that there is no slowdown in the fast-food trend and in fact, its partner stores such as Subway, Burger King, Dominos and McDonalds have clocked in the highest number of orders in five years, Swiggy said in a blog. Subway, McDonald’s, Burger King and Dominos are a few of the most popular fast-food chains in India. While food delivery applications have disrupted food ordering landscape in the country, these stores have a large retail presence and hundreds of outlets which gain offline traction as well. Meanwhile, it is not just fast food that online eaters are craving for. Indians still love the desi food more with Biryani and Dosa being the highest ordered food items. “Biryani is the most ordered dish in the country … with the order rate at a staggering 43 per minute,” Swiggy said. The next in the line is dosa.
As the 2014 founded company turns 5 this week, Swiggy said that the year has been a turning point for it with the food aggregator diversifying its business to convenience store operations. Swiggy now delivers fruits, groceries and vegetables. Currently serving in Gurgaon, the company expects to expand to other cities too. Swiggy’s food delivery network, however, spans over 290 cities with presence in tier 2 and tier 3 regions as well. Swiggy is backed by Naspers owned Multinational conglomerate company Tencent.
Meanwhile, another player is emerging to take a slice of India’s blossoming food delivery sector. According to media reports, Jeff Bezos’ Amazon is planning to venture into the food delivery business and plans to roll out the program by as soon as September this year. Further, the food delivery business is expected to witness a northward trend with a steady 3.7% CAGR in 2020, according to a McKinsey report. “We believe [online] penetration rates will grow further as the market matures, eventually reaching 65 per cent per year,” the recently released report added.