Continuous change in food delivery market

                                   Changing market of Food delivery

Source-medium.com

The shape of the market today,

Worldwide-the marketplace for food delivery stands at $83 billion, or 1 percent of the general market and 4 percent of food sold through restaurants and fast food chains. it's already matured in most countries, with an overall annual rate of growth estimated at just 3.5 percent for the next five years. By far, the foremost common style of delivery is that the standard model, within which the patron places an order with the local store or Chinese restaurant however as the numerous other sectors the rise of digital technology is shaping the market. Consumer reception with shopping online through apps or websites with maximum convenience and transparency, increasingly except the identical experience when it involves ordering dinner.

New Delivery-players allow consumers to check offerings and order meals from a bunch of restaurants through one website or app. Crucially the players during this category also provide the logistic for restaurant this permits them to open a brand new segment of the restaurant market to home delivery: higher-end restaurants that traditionally failed to deliver. The new delivery players are compensated by the restaurant with a hard and fast margin of the order, further like low flat fee from the customer. Despite the upper costs of maintaining delivery vehicles and drivers, the new delivery players achieve EBITDA margins of quite 30 percent. Players include brands that operate globally liker Deliveroo and Foodora are capturing the new region. Believe the addressable marketplace for new delivery will reach to aproxx $20 billion by 2025 

Source-forbes.com

Customer behavior-Customers drawn to the new online food delivery platforms have a definite set of needs and expectations from the conventional pizza customer. Study uncovered the next important traits: Platforms are sticky,New delivery platform which personalize the ordering experience by storing relevant customer data, are sticky. Once customers converge, 80 percent never or rarely leave for another platform, creating a sturdy winner take all dynamic, within which the reward goes to the player who can converge the foremost customers within the shortest amount of some time.
Time is critical-Speed of delivery is that the largest variable in customer satisfaction, with a mean 60 percent of consumers across markets citing it as a key factor. The optimal wait time is not any over hour.
Meals are for home. Most orders aproxx 82% were placed from home while only 16% only placed from work place.
Orders spike on weekends-The highest volume days for the net platforms were Friday, Saturday, and Sunday, when 74 percent of orders were placed.

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