Festive Binge: Swiggy, Magicpin See Spike In Food Delivery Orders
As India revels in the spirit of the festive season, food delivery platforms Swiggy and magicpin have reported a massive surge in orders, highlighting how culinary cravings are now central to the country’s celebrations.
Anshoo Sharma, CEO & Co-founder of magicpin, India’s third-largest food delivery platform, told PTI the platform is gearing up for even higher volumes as Diwali approaches.
Expectations from the Festive Season
‘We expect to double last year’s numbers on food delivery,’ Sidharth Bhakoo, Chief Business Officer of Swiggy’s Food Marketplace, said.
Bhakoo shared that cities like Mumbai, Bengaluru, and Kolkata led the indulgence, while emerging hubs like Surat, Thiruvananthapuram, and Vadodara joined in with equal enthusiasm.
Trends in Food Delivery
According to Bhakoo, choco lava cakes topped dessert orders across metros, while Kolkata’s long-standing love for biryani remained intact.
The data reflects one clear trend — food delivery has become the heart of how India celebrates together,’ he added.
Magicpin’s Insights
Echoing similar sentiments, magicpin CEO and co-founder Sharma noted that vegetarian and thali orders surged by nearly 40% around Navratri across the platform’s active markets.
Post-Dussehra, there was a marked rebound in demand for both vegetarian and non-vegetarian cuisines, as consumers returned to their regular dining preferences, Sharma said.
Magicpin also reported a 2.5x spike in bulk and party food delivery orders after Navratri. The momentum continued into the second week of October, with a 30% jump in food delivery orders on October 10 compared to regular days.
Impact on the Indian Food Market
The surge in food delivery orders during the festive season has significant implications for the Indian food market. With more and more people opting for online food ordering, the demand for food delivery services is expected to continue growing in the coming years.
According to a report by Research And Markets, the Indian online food delivery market is expected to grow at a CAGR of 30% from 2022 to 2027.
This growth is driven by the increasing demand for convenience, the rising popularity of online food ordering, and the growing number of food delivery platforms in the country.
Opportunities for Investors
The growth of the Indian food delivery market presents opportunities for investors to invest in food delivery platforms, restaurants, and other related businesses.
Investors can consider investing in Zomato, Swiggy, and other food delivery platforms that are listed on the stock market.
Alternatively, investors can consider investing in restaurants and other food-related businesses that have a strong online presence and are likely to benefit from the growing demand for online food ordering.
Conclusion
In conclusion, the festive season has led to a surge in food delivery orders on platforms like Swiggy and magicpin, highlighting the growing importance of culinary cravings in the country’s celebrations.
The growth of the Indian food delivery market presents opportunities for investors to invest in food delivery platforms, restaurants, and other related businesses.
As the demand for online food ordering continues to grow, it is likely that the Indian food delivery market will continue to evolve and present new opportunities for investors and consumers alike.
