The QSR industry in India is an aggressively growing industry but the obstacles that it faces today are also equally challenging.
As per NRAI’S India Food Services Report 2016, the size of the QSR market was estimated at 9,125 crores in 2016.It is expected to grow at a CAGR of 22% to reach 24,665 crores. The QSR segment is expected to pick up the pace as foreign brands are constantly entering the market, but will this growth be a good one, and will it be sustained?
Although the Indian market is a growing one, there are a lot of factors contributing to the QSR industry’s stagnancy.
- Firstly, since more sophisticated restaurants are propping shop, consumer preferences are getting refined.
- Secondly, consumers might not prefer fast food options, opting for healthier ones.
- Lastly, the trend of eating out, in general, has also declined in recent years.
Expansions on the rise?
These days, it seems big brands shutting are down their outlets all over the place. It seems that expansion has also taken a hit, and brands haven’t been able to meet their targets. If we look at brands like Jubilant Food Works Ltd, Domino’s and Dunkin’ Donuts, they are growing at a very slow pace. Domino’s will only open 40-50 outlets this year as opposed to the target of 150, and Dunkin’ Donuts is only looking at about 3-5 new ones.
Reports suggest that other brands like Johnny Rockets and Carl’s Jr are also far from achieving their targets. Some of the reasons attributed to this trend are demonetisation, high rent, corruption, high supply as compared to demand, to name a few.
Which brings us to the need of the hour – The Fast Food & Cafe Convention.
The Fast Food & Cafe Convention on 29th November in New Delhi is being organised to bring together the best minds in the QSR business today to share their knowledge and insights.
How are they facing these challenges on a daily basis? How does India react to newer forms of fast food? What is the right expansion strategy in the current business environment? We are excited to hear from Alok Pandey from Domino’s, Kabir Jeet Singh from Burger Singh and Raghav Verma from Chaayos and many other established players.
Technology – The only route to GROWTH 2.0
The QSR industry is heavily dependant on technology. With orders being a huge pie of their revenues and with ordering in being majorly accepted by Indian metro audiences, it is imperative to put in place today a mechanism that helps streamline a brand’s daily orders.
An interesting session to look out for will be by Sahil Jain, Co-Founder & Product Head at Dineout who will throw light at everything new & latest in technology solutions for QSR brands in India and the world.
Conquering the Ordering Game
Playing a major role in the QSR industry, online ordering can get very tricky at times. Now that there has been a rise in mobile ordering, third-party deliveries and various online ordering platforms, managing high volumes can be a real challenge. Can technology intervene and smoothen things out? All this and much more to be discussed at this much-awaited event.
The most definitive event in the world of QSR, this one is a must attend.
inResto is the official Food Tech Partner for Fast Food & Cafe Convention 2017.
Follow inResto for updates about the event.