The industry is changing rapidly and new F&B trends are entering the market every now and then, it is so rapid that even when you have a chance to experience one, another trend emerges in the horizon. The rapid changes in the way food is cooked and served, besides the evolving taste of consumers, has forced the hospitality industry to stay nimble and constantly experiment. The transformations present new opportunities and capitalizing on these by keeping on top of consumer trends will ultimately lead to success for restaurants.
At the same time with the rise in food delivery apps, the consumer market has turned lazy and discount centric. A win-win situation for consumers, food aggregator services have proved to be a boon for them, however, it has mixed opinions for restaurant owners. Adding another source of income and a method of reaching to more customers, these aggregators have surely brought in more sales for restaurants, however, customer confidentiality and non-accountability of riders towards restaurants put the brand in a tricky situation at times.
Ordering restaurant meals for delivery is becoming an everyday part of life for many. Providing an ever-broadening range of eating choices delivered right at the door, Foodservice aggregators are on a rise like never before. In contrast to this the food and beverage (F&B) sector - the fastest-growing part of retail in India - grew at a rate of 11 per cent compounded annual growth between 2013 and 2017, according to JLL.
It is very important to have a top-class menu, having said that India's theme restaurants are connecting with consumers through great spaces that tell a story, it creates an inviting atmosphere and is providing with memorable experiences. Restaurants are designing picture-perfect spaces that customers share with their social media networks, which is also now part of the strategy.
The theme restaurants often present us a story today, tales are shared in a manner that makes the consumers feel special. Visitors still love to explore quality food and service, and brands are today positioning themselves through varied food and culture stories and this has now become a tradition. The youth across the city is willing to splurge on the small, yet meaningful differentiating factor.
With a report from NRAI consumers in India eat out at least six times in a month. The modern-day restaurants are aiming to give them the best of food and nightlife, restaurateurs and hoteliers are experimenting with newer formats and concepts to cater to the well-travelled, discerning clientele. As the business dynamics are always changing the industry is always on a lookout for ways that ensure healthy bottom-lines, innovating a variety of ideas for effective space utilization is a fast-evolving trend. Eating out will always remain a great way to relax and unwind. The ambience, the change in place, the service- everything comes together to set the mood for an enjoyable meal which one can not get it in the comfort of our homes. Where we go, what music we listen to and what we eat directly affects how we feel.
The war between eating out and deliveries will never end and it should never do as well, one should always understand the fact that the market as a whole is expanding and food and hospitality is one business which will have a never-ending business and will always reach the skies. The fact of eating out and the dining concept will always remain a concept which will never die, the market players are coming up with new concepts and are experimenting with the best of the worlds. New cuisines, exponential interiors, world music and the bar concepts to die for. This is what the restaurant industry is offering and this is how the industry will always remain the talk of the town and how!
The article is authored by Dinesh Arora, Chief Managing Director, Eastman Colour Restaurants
Dinesh Arora is the creative genius behind the Swanky Unplugged Courtyard Connaught Place, the all-vegetarian Swad and the all-new multifaceted Unplugged Courtyard Gurugram and La Roca Aerocity, an upmarket Tapas bar is unquestionably one of India’s important restaurateurs.