There is also growth in single fleet models, multi-fleets, in-house fleets, and crowd-based fleets. This includes same-hour or same-day delivery, party delivery, next day delivery, and more. Over recent years, restaurant delivery models have become a norm with several fleet types emerging. Part of the reason for the growth of online ordering and food delivery is a change in the business model being adopted by restaurants. Once the order had been placed online, the restaurant fulfills it by ensuring the food is delivered to the customer’s home. For their part, restaurant’s assure transparency and convenience in their services. Instead of going to the restaurant, customers are now placing their orders via restaurant apps and websites. The rise of digital technology has transformed the food delivery process and reshaped the market. They then wait for the restaurant to meet the order and bring the food at their table or at the checkout center. Under this model, a customer walks into a restaurant and places their order. The most common type of food delivery has always been the traditional restaurant model. Although these online platforms attract huge investment and high valuation, they are transforming the business of food delivery. Hybrid delivery platforms are also eating part of the market share, transforming how ordered food is delivered.įood delivery has become a business on its own with various online platforms competing to secure a market share. While some do it themselves through independent platforms, there has been a significant increase in third-party platforms like Uber Eats and Delivery Hero. Restaurants and other food businesses are now handling digital ordering and delivery of food in different ways. The Rise of Food Delivery Businessesįollowing the changes that have occurred in the food delivery business, more than half of all customer orders are being delivered directly from restaurants’ apps or websites. Collectively, the annual growth rate of the food industry is about 3.7%, with the online ordering and food delivering growing at an annual rate of about 15-20%. In terms of percentage, about 42% of the overall food ordering market are now being placed online. The numbers do not lie as the growth in online ordering and delivery of foods has grown tremendously. This is also a good time to identify new opportunities in the market and invest in the right sector of the industry. With all the changes that have occurred in the food ordering and delivery sectors, restaurants need to stay abreast of what is happening in the market. This translates to about 40% of the total restaurant sales. Although the estimates differ across locations, online food delivery rates are expected to grow to more than $220 billion by 2025. In fact, the growth rate for online food ordering and restaurant delivery has been over 20% over the last five years. Customers can now easily order food online and have it delivered to their homes within the shortest time possible. The food industry has gone through a significant revolution over the recent past. A Look into the Growth of Online Ordering and Food Delivery
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