Indians are increasingly lapping up non-traditional celebration occasions fuelling the growth of online food delivery segment. From Mother’s Day to marquee sporting events, online food delivery platforms are increasingly seeing a spike in sales on new celebration occasions throughout the year.
Rohit Kapoor, CEO, Food Marketplace, Swiggy, told businessline: “The growth in online food delivery is being driven by consumers seeking convenience but also because they are adapting to new celebratory occasions. In the past two years, we have seen Mother’s Day becoming as large or even higher than New Year’s Eve, in terms of order volumes. We are seeing a clear spike in orders on days that have anything to do with celebrations involving family and friends. I think this trend is only going to grow going forward. “
At the same time, traditional festivals are getting bigger in terms of volume of orders as consumers increasingly turning to food ordering platforms to complete their celebrations. “We are seeing growing popularity of regional cuisines during festivals across the country. For instance, we have seen a strong uptick for Onam Sadya offerings in North India,” he added.
A report released by Swiggy and Bain & Company has projected the online food delivery segment to grow 18 per cent CAGR to touch ₹2.12 lakh crore by 2030.
Talking about demand trends seen during key marquee cricket events, Kapoor said the platform witnessed a spike especially during India matches. “We are also seeing an uptick in orders from various consumer cohorts, who follow other sports, such as football..”
The food delivery platforms also witnessed significant uptick in order volumes during the recently concluded T20 World Cup Final, where India emerged victorious.
“For all these key days, we plan nearly 60 days in advance as the restaurant ecosystem and supply chains gear up for higher order volumes,” he explained.
The report stated that convenience-led formats, Quick-service Restaurants (QSR) and cloud kitchens are segments that are anticipated to see faster growth rates till 2030.