Every one of us is aware of the concept of online delivery apps. Not just familiar but also have used the same to order your favourite meal to enjoy in your personal space. Frost & Sullivan shows the online delivery sector’s revenue will increase from $82 billion in 2018 to $200 billion by the end of 2025. Global penetration resulted in an increasing 14% CAGR due to adaptation to new technology and COVID 19 pandemic.
Statista report shows that revenue growth in the online delivery segment has reached around US$151,526m in 2021. It’s expected to jump high by 6.4% CAGR during 2021 and 2024, resulting in an increase of $182,327m by 2024. Most people live fast-paced lives these days; they don’t have enough time for immaterialism, such as preparing a meal.
Research shows that 72% of customers use delivery apps because they don’t want to eat. Sometimes it’s to avoid bad weather. The demand for the delivery app has increased due to COVID 19 pandemic.
Online Delivery App is Thriving Speedily: Explore Reason Why?
The online delivery market was around $107.44 billion in 2019, and it is predicted to increase by 3.6% per year. Millennials shift the inclinations from traditional eat out to multiple delivery services; it’s clear that online delivery apps are here to stay and want to begin their online delivery business looking to the markets’ growing demand.
The below data shows averages of weighted factors that have the highest weight. Comfort and convenience are ranking on the top of the chart; thus, it becomes vital for restaurants to offer customers the best services. It helps them thrive in the market during today’s market, experiencing huge ups and downs due to the covid 19 pandemic. Many other factors such as quality of food, delivery time, payment process, and many more affect the delivery app’s sales and success.
Restaurants are stepping ahead to make people’s lives much more comfortable by launching their delivery app. The delivery app has made users’ lives much straightforward; people these days want to leverage more convenience at every point; hence it becomes vital for restaurants and delivery providers to offer customers convenience and comfort for which they are striving.
Rising Market of Delivery Apps: Which Factors are Responsible for It?
With technological advancement and internet usage, there is drastic growth in the delivery app in the market. The number of online orders has grown with fierce speed during the pandemic. The delivery app has measured around 16% of growth in the last five years. Explore some for the increasing popularity of online delivery apps.
The food delivery market was around $108 billion globally. The delivery market is predicted to grow and be valued at $300 billion by 2030. Some of the reason for the increasing popularity of mobility platform includes:
- Accessibility
- Quick And Easy Way
- Time Saver
- Cost-efficient
- Discounts & Promotions
- Simplicity
- Online Service
- Challenges of an Online Platform
- Increase ROI
- Expand Business
Accessibility
Delivery apps make it easier for food lovers to order their favorite food and get it delivered to their place. They can explore different categories and sub-categories before ordering the food and make a payment from the same. The demand for an online food ordering system is growing due to the increasing need for accessibility and comfort. Most people are used to web-based services and expect to have the same on the app.
Hence it becomes vital for businesses to make sure that they get the same experience they are thriving to experience. The online delivery app must explore menu items, details, price, invoice, etc.
Time Saver
Gone were the days when the individual needed to travel miles to reach the restaurant and enjoy their favorite meal, which was frustrating and time-consuming. But now, customers can get it delivered right at their doorsteps with a few simple taps on their device; this saves their tremendous amount of time and gets rid of the frustration of traveling on heavy traffic roads. They can even order the food while they are at the office or on the way and pick it up from the eatery by choosing the “Takeaway” option.
Quick & Easy Way
Online delivery platforms offer you a quick and easy way to order food. Let’s explain with a short example: what if you have a guest at home and don’t have enough time to prepare the food? There is nothing to worry about the same, as you can easily order the food from an online delivery app, ensuring to save your day and time. The online delivery app is an easy and quick solution for every problem, from ordering food for dinner to sweet dishes to fresh drinks.
Discount & Promotions
It’s quite tricky for eateries to catch customers’ attention in today’s competitive market. But it becomes more comfortable by offering customers special offers and discounts. It saves their money and helps eateries promote their business and receive more orders at the same time. Offering cashback is a beneficial strategy assisting restaurants in achieving success and business growth in no time.
Business Expansion & Growth
Food businesses and eateries are leveraging drastic benefits after developing mobility solutions for their business. It ensures wider reach for their business; additionally, it guarantees to increase their business sales and profit to a great extent.
Also Read: How Covid-19 Changed Business And Technology
More ROI
With the increasing popularity of your restaurant mobility solution, the ROI will also increase. There is nothing to wonder that food delivery giants such as UberEats, FoodPanda, and many more face colossal competition these days as the number of delivery apps are increasing in the market with each passing day.
Simplicity
The delivery industry is a competitive one; most food giants are continuously offering something to ensure their survival in the market. Even customers these days demand everything instantly; however, they also love to enjoy the simplicity that guarantees to make their lives more comfortable and convenient.
Conclusion
Market Watch reports show that customers these days prefer to order online. The survey on 2,500 consumers shows more than 52% avoid restaurants even after they reopened post-COVID 19. The number of on-premise dinners decreased by 52% in the U.S alone. It likely benefited online delivery platforms such as GrubHub, DoorDash, Swiggy, etc. DoorDash received and completed around 543 million orders in the recent period.
The delivery market is immersed with mobility solutions. There is cutthroat competition in the market; hence you need to come with a unique idea that helps you stay ahead of others and assure your business success in no time. Right technique and strategy can help you launch the best delivery app, making it easier for you to manage and handle every activity efficiently.
Also Read: Business Tech Upgrades for 2021
