Online reservation systems, loyalty programs, and targeted marketing solutions provide restaurants with an opportunity to retain customers and provide a safe customer experience.
While restaurant sales were down as much as 50 percent or higher for some limited-service brands, many found an opportunity to flex their well-developed off-premises muscles as a way to stay afloat.
The APAC (Asia Pacific) itself accounts for 63% of the total F&B (Food and Beverage) stores market in the world. The Indian F&B industry accounts for 3% of the GDP and is expected to grow at a CAGR of 16% by 2025 amounting ?10,00,000 crores i.e., 2.5x since ?4,00,000 crores in 2019.
The pandemic has encouraged customers to order in which has made the concept of takeaways and driveways become very popular. Utilizing this to full potential, brands also initiated takeaway discounts helping with more orders while also saving us from aggregator margins.
On an average, food courts contribute almost 8-10 percent of the total mall revenue and in the case of malls with great offerings in their food courts, this number can even go as high as 15 percent.
With 5 more outlets in pipeline to be launched together across Delhi by December 2021, the brand aims to align liquor purchase and consumption at the premises in a restaurant setting.
In a world where uncertainty looms large over the future of the dining business, technology is the most viable way forward for restaurants, especially as government directives also encourage takeaways.