QSRs are expected to raise revenues close to $4.1 billion by 2020.
India’s evergreen food industry growing leaps and bound and is expected to reach $33 billion by 2020, with Quick Service Restaurants (QSR) taking up a healthy share of the revenue. QSRs are expected to raise revenues close to $4.1 billion by 2020 as they are partnering with Swiggy, Zomato et cetra. The revenue generation for these restaurants are at an all time high according to a report from Cyber Media Research.
Quick Service Restaurants are trending today. Look around and you’ll be able to see McDonald’s, Domino’s, CCD, et al all the way. It’s just not a restaurant for people. It’s a place that transcends culture and brings people together over some juicy conversation, to build a plan, to celebrate a win, a family looking to unwind over light- hearted banter and even complete strangers from worlds pondering over the intricacies of life.
What makes QSRs exciting!!!
QSR oscillates between fast service and time consuming properties. People today want things as early as possible in their hands. Actually they do not have time to wait. That could be a reason why QSR are famous among people; with fast and evolving life everyone just want to order things up and grab and go. And, that could be an exciting reason for more than 100 brands which boasts of over 3000 outlets spread across the country. QSRs are a hit among people looking for snacking- especially with a taste for something more indulgent.
And, the answer is Youth. Students running for college or the corporate people prefer to grab their breakfast on the go itself. “The Indian F&B industry is booming. We see new concepts mushrooming everywhere and it is great to see people showing willingness to experiment and try new and innovative concepts”, says Priyank Sukhija, Owner of Lazeez Affaire Group which owns some of the top restaurants in Delhi market.
It’s all about experience!!!
Customer look for an experience when they go out, they are not ready to adjust for below average quality and services. You have to impress them or they will go for another option because customer has choice. Ace is in his hand. Restaurateurs need to hit the bull’s eye to get rid of any inefficiency.
Sukhija believes that the most exciting part of this industry is that we are never shut; we operate 365 days a year. Amidst all this growth, one thing that bothers the industry is when restaurants don’t live up to their laurels. “We are in the service sector and we are duty bound to ensure that our standards of service are at par excellence and nothing less. We are responsible for creating Customer Delight and we cannot afford to falter on that,” he adds further.
There is a huge market for QSRs and an untold opportunity for the segment way beyond because obviously they’re time saving and convenient. QSRs are the best options for people who love convenience and speed because they just have to order from their respective smart phones, walk into the restaurants and pick up the order.