The expenditure of Indian households on eating out is rising rapidly and it has become imperative for established as well as new restaurants to formulate a dynamic pricing strategy. As per reports, an average Indian household spent over INR 2500 per month on eating out in 2019.
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.
From being one of the first players to take contactless delivery/dining route to playing with the menu by customizing it according to the local market and meanwhile expanding its technological reach.
Soultions like Tone Tag enable customers to pick their favourite item from their choice of restaurant, make payment online, and place an order. This seems like a regular online ordering procedure but there is a catch.
A restaurant brand operator who has 200 outlets pan-India said Zomato has been pushing partners in recent weeks to opt for discounting models like Deal of the Day and Everything at one price.
Digital orders for carryout, which represented 62 percent of all digital transactions, jumped 130 per cent. Digital orders for delivery lifted 140 percent.
As per a report by Goldstein Research, the global cloud kitchen market was valued at USD 700 Million in 2018 and is expected to grow at a CAGR of 17.25% through the forecast period (2017-2030).