 "food delivery, online delivery")
New Year's Eve 2023 (NYE23, December 31) proved to be eventful for India’s food delivery platforms, according to consulting firm Redseer Strategy Consultants.
The gross orders made during the day were a record number of 6.5 million, which is 18 per cent higher in comparison to NYE22.
NYE22 itself was massive, wherein a total of 5.5 million orders were placed, compared to 5 million orders in NYE21.
Redseer’s big data analysis on consumer behaviour notes that the spike in food delivery orders on NYE23 was a nationwide event as Metros, Tier-1 cities, and the rest of Indian cities exhibited almost similar growth in order volumes on this day.
The day started with GMV (gross merchandise value) in breakfast (orders placed between 6 am to 11 am) being 1.5-2x the daily average of the year.
GMV peaked in the dinner and late-night orders, being 2.5-3x the average of other days.
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Customers not only ordered higher volumes but they also spent more per order.
Redseer estimates that the average order value was up to 30 per cent higher than that of other days of the year.
“Spike days like the IPL, Cricket World Cups, Diwali, NYE etc., are critical for online food delivery services as customers order more and spend more,” said Abhijit Routray, Associate Partner at Redseer. “It was heartening to see the jubilation in the ecosystem on NYE23 with a record number of orders being delivered, while customers reported high satisfaction with the services. More importantly, the fact that the momentum was seen across India and across city tiers was testament to the size of the opportunity in India.”
