Dining out and restaurant tech platform Dineout has tapped into the current and upcoming trends in the F&B industry of 2020-21. CEO and Co-Founder Ankit Mehrotra, says this white paper will pave the way for restaurateurs to keep up with the ever-changing dynamics of the industry and adapt as per the latest consumer demands. The report has revealed that India’s F&B market is set to weather the COVID blues, re-employ one million workers by 2021, that budding chefs will rise four times next year. An interview with Mehrotra:
How and when did you do this study?
This report is the culmination of insightful data that we have gathered from our constant partnership with more than 15,000 restaurant partners using our contactless dining product suite. In the 21st century, where most industries are banking on insights derived from customer data, why should the restaurant industry stay behind? The report is based on the observations of behavioural changes in our diners mapped across the past seven-eight months.
What type of questions were asked?
Our questions majorly revolved around the importance of technology and the reason behind this paradigm shift. It also had questions based on the current customer behaviour, behavioural changes, reservation requests, and food preference of diners in the current times.
What are the major findings, and how will they change the face of the F&B industry?
The key insights that struck a chord with us are that 90 per cent of the restaurants will be opting for online bookings thanks to a shift in customer behaviour. This will help restaurants attain peak capacity management and increase their table turnaround time. Another key finding is that restaurant businesses have understood the value of data acquisition and customer behaviour mapping. It will help restaurants make accurate business predictions and drive growth. Additionally, what drew our attention was the remarkable increase in cloud kitchen’s market share to 30 per cent. It showcases how many restaurants might expand their delivery radius by taking this route.
The report also says that home delivery will grow by 30 per cent. Are people are scared of eating out?
People are cautious about where they choose to dine out. But they have also developed new habits due to quarantine fatigue. Apart from hanging out at local restaurants, people are now indulging in takeaways which can be relished anywhere, be it a picnic or a get together at home. This has become an extension to their dining experience, which is set to grow subsequently.
Forty-five per cent of young adults are determined to adopt healthy eating habits. Will it affect F&B industry?
New food trends have been a regular thing in the F&B industry. Every year we have new entrants in the market with respect to superfoods or healthy alternatives. Young adults’ preference for healthier dishes will be no surprise here. There are many restaurants already in the market that specialise in catering to this specific needs.
As per the report, a surge is expected in the usage of disposable cutlery, and probable waste burden.
This surge can be managed and wastage can be reduced if restaurants take a more holistic approach. There are many sustainable brands producing eco-friendly cutlery. Also, for home deliveries, some restaurants give an ‘opt-out’ option to customers who can use their personal cutleries. Reducing waste burden lies in the hands of customers too.
What changes in terms of technology are expected?
Technology has gone from ‘being good to have’ to ‘need to have’ for the restaurant industry as everyone now understands that it helps reduce costs and improve efficiency.