Food delivery platforms see 18% jump in orders on New Year's Eve: Redseer

Online food delivery platforms in the country together saw a record 6.5-million orders on New Year's Eve 2023, clocking an 18 per cent year-on-year growth, a report said on Thursday.

On New Year's Eve 2022, online food delivery platforms in the country had recorded 5.5-million orders.

Redseer's Big Data analysis on Consumer Behaviour noted that the spike in food delivery orders on NYE23 was a nationwide phenomenon as metros, tier-1 cities and rest of Indian cities show almost similar growth in order volumes on this day.

Consumers kept on ordering in high volumes throughout the day on New Year's Eve 2023, with the spike peaking for dinners and late-night orders, where the GMV (gross merchant value) delivered was 2.5-3x of other days of the year, it said.

 

Redseer's Big data analysis also observes that on NYE23, customers not only ordered higher volumes, but they also spent more per order. According to Redseer, the average order value was up to 30 per cent higher than that of other days of the year, it said.

Spike days like the IPL, Cricket World Cups, Diwali, NYE, among others, 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. 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," Routray said.

There are up to 20 days in a year where online food delivery platforms witness significant jumps in order volumes. But the most significant of those spike days is on December 31 or the New Year's Eve (NYE), which witnesses by far the largest spike in orders on any given day of the year, it said.