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 {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How To Ask Family For Money
Your friends-and-family fundraising round doesn't have to be scary and awkward. Here's advice from one of the world's leading investors.
Data Breach Drama: When Trust Turns Costly In A Digital Age
Amid data breaches surges, Indian businesses are prone to financial and reputational fallout. Can cyber insurance emerge as a safeguard?
THE TERRAIN TAMER
Spearheading a California-based, Series D SaaS company is no easy feat. It requires a blend of ownership, innovation, and the ability to handle stress. But Anand Jain, co-founder and chief product officer of Clever Tap, finds his calm by escaping to rough terrain whenever he gets the chance-be it India or Colombia.
THE INTELLIGENT READS
Hardika Shah founded Kinara Capital in 2011 with the mission to address the acute credit gap in the micro-small-medium-enterprises (MSME) sector in India, by providing fast and flexible business capital to small business entrepreneurs. Despite operating in highly competitive and tough market of collateral free loans, Kinara Capital has been steadily growing in Hardika's leadership. In conversation with Entrepreneur, Hardika shares insights on her favourite books.
THE CURSE OF GROWING TOO FAST
FAIRE is a platform for small businesses, but it grew big the wrong way-almost becoming a $12 billion wreck. Here's how it fixed the problem, and why you should think twice before skyrocketing.
There's No Perfect Answer
I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\"
Give Yourself the Gift of Time
Happy holidays! Emmy Award-winning tech expert Mario Armstrong has five recs to get more hours in the day.
How to Become a Main Street Millionaire
It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.
Want to Better Serve Your Clients? Become Them.
As a designer for brands, starting my own product company gave me a dose of humility-and it changed the way I relate to clients.
How to Succeed With Gen Z Workers
People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.
