19th April 2022 | 03:00 PM – 04:15 PM
The Coronavirus pandemic has been one of the worst tragedies that the world witnessed in the post-modern era, wreaking havoc & disrupting the lives of millions of individuals and businesses. The Indian Restaurant Industry was one of the major sectors which was significantly hit. According to a study by the National Restaurant Association of India (NRAI), around 25% of the restaurants were closed permanently costing 24 Lakh jobs. The remaining struggled more or less to keep their shutters open, working in and around the capital they were left with, and owing to major cost cutting taking place, barely managing to survive.
One distressful year with Covid was enough to shrink the size of the restaurant industry by half. This created a sudden urge in developing new operating & business models that could work well in both the pre and post pandemic situations. One good model found was that of the cloud kitchen, which operates as a delivery only outlet. Eliminating the in-house dining experience helped make room for better profit margins with minimal cost.
Cloud Kitchens kickstarted a huge spurt of new businesses, thanks to low entry cost, low capital expenditure, and lower rents. This model is quite promising when you consider that the capital and infrastructure required is quite minuscule compared to the classic diners. This has now become a tried and tested method, with more and more people putting their entrepreneurial instincts into the food business. Figures speak for themselves, as per a report by RedSeer Management Consulting, cloud kitchens are set to be a $2 billion industry in India by 2024, up from $400 million in 2019.
Technology is undoubtedly the major driving force backing the cloud kitchen businesses. What else can be better when you have the power of ordering the food of your choice from home. To further deliberate on the subject, Gupshup is proud to present a webinar on “CONVERSATIONAL MENU: DRIVING THE FUTURE OF CLOUD KITCHENS”, managed by Industry Live on 19th April. The webinar aims to provide insights on the power of technology in driving the future of cloud kitchens with the help of conversational messaging and social media, along with underlining the importance of customer data in providing personalized services to each individual.