Gone are the days when having food delivered to your doorsteps was unheard of and it’s no secret that the food delivery industry has greatly evolved over the past few years. It has captured huge market shares by offering greater convenience and reliable services to the customers and with the ever-evolving consumer demands, experts see positive prospects of growth for the industry in the future as well. With that being said, however, food delivery owners need to keep up with the latest trends of the market to withstand the increasing competition. It’s a survival of the fittest in this fast-paced world, after all.
In this article, we will take a look at the major trends that are currently shaping the future of the food delivery industry so that you can adopt them in your business model and enjoy unprecedented success in the coming years. So without wasting any further time, let’s get started.
Targeting The Millennials
The millennials are already shaping consumers markets all around the globe, and like every other industry, they’re in the driver’s seat of the online food delivery sector. A significant proportion of revenue generated by the food delivery industry comes from this segment of the population as they spend a major chunk of their budget on instant food delivery and fast takeaway options as compared to other generations. With increasing work pressures and time constraints, more and more millennials are opting for food delivery options to satisfy their appetite and cravings and that too in a pretty cost-effective manner.
In fact, about 60% of the millennials opt for food delivery and restaurant take-outs, making up over 33% of the total consumers of the online food delivery market in Canada. Thus, as logical as it may sound, focusing on introducing innovations for Gen Y is crucial for platform-to-consumer and restaurants-to-consumer markets to prosper. However, this may require you to step out of your comfort zone and implement out-of-the-box thinking to capture their attention and spark their interests.
Embracing New Food Options
A variety of food niches have surfaced and taken over the consumer market during the past decade. As a matter of fact, diet options based on keto, gluten-free and vegan style of living are all the rage these days and while many food delivery services typically focus on a specific niche, understanding the importance of embracing the new ones is crucial for food delivery companies to thrive in the coming years. After all, targeting a specific niche is essential to step into the growing food industry but the inclusion of other options is also important to attract more customers towards your business in the long run.
In light of this trend, many food delivery services such as ActivEats are already allowing their customers to choose vegan and gluten-free food options while others have also introduced meals based on the keto diet to enhance their customer base and elevate their experience.
Adopting Exciting Technologies
From Artificial Intelligence to Virtual Reality, technology is driving every field to a digital age and to keep up with the future market trends, food delivery companies need to welcome these tech developments with an open heart and take advantage of the amazing benefits they have to offer.
Food delivery companies and startups are already making use of augmented reality in their marketing campaigns to increase brand awareness and drive greater revenue. Moreover, virtual training is also being adopted by renowned names like KFC to coach new employees in a cost-effective and efficient manner.
That’s not all – the field of Big Data and Machine Learning is also being manipulated to revolutionize the food services industry by increasing operational efficiency. From analyzing customers’ ordering history to determining the impact of traffic conditions on order delivery, big data is being used to help companies monitor customer preferences and offer a satisfying experience.
Improving E-Customer Service Channels
Everyone wants a quick and simple online ordering system, right? The truth is that 63 percent of individuals cancel their orders if they are unsatisfied by the customer services which calls for the need of simplifying food delivery services. This means that having a straightforward and effective e-customer service interface is the key to attracting new customers and retaining old ones.
Therefore, introducing unique channels of order by manipulating the latest techno-digital advancements is crucial for investors in the food delivery industry to set themselves apart from their competitors and keep the cash flowing in. The good thing is that there are many options you can explore to extend your ordering platform and make the experience seamless for the customers. These include placing orders via social media platforms such as Twitter or ordering through your smartwatch, smart TV or even your cars.
Introducing New Delivery Models
Thanks to the modern-day technological advancements, food delivery companies are not tied down by conventional delivery options. Keeping this in mind, another trend that is expected to drive the future of food delivery industry is the introduction of fast delivery options ranging from the use of robots and drones to fulfill the task.
Foods delivery by the help of AI-driven robots has already been initiated by some food delivery companies in partnership with Tech startups. Likewise, food delivery through drones is also a viable option that can deliver orders directly to the customers’ location in a short time by escaping the traffic and congestion on the roads. Another method taken up by an eatery in Melbourne, Australia, is delivering food to the destination by parachute – sounds interesting, right? You can also adopt such innovative delivery methods to attract new customers and increase the quality of your services while reducing operational costs.
The bottom line is that the customers’ demands are escalating with the passage of time and to keep up with those, embracing the future trends of the food delivery industry is not merely an option – it’s a necessity. Remember that your competitors may already be equipping themselves with options for providing better food and services without compromising on the revenue-generating aspects so it’s important that you do the same.