How Eating out has changed over time - Kotak Bank
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Whether you agree or not, but we Indians love to eat. As the Indian population now consists of youngsters, a lot of experimentation happens in terms of cuisines, places, lifestyle, etc. In fact, according to the Indian Food Services report 2016, 15% of Indians eat out on the pretext of shopping/casual outings. Also, the food industry is projected to grow around 4,98,130 crores by the year 2021. The data also stated that the Indian food industry is expected to contribute Rs. 22,400 crores in the form of taxes and create 5.8 million direct jobs. This article looks at various trends in eating out from yesteryears to date!


Dining Once in a Blue Moon to Dining Out Every Week

Ask your grandparents or even your parents and they would tell you how back in the day, going to a restaurant with family or friends was a privilege and it was mainly for special occasions like birthdays or anniversaries, etc. As of today, things have drastically changed. We no longer need a reason to dine out with our family or friends. As soon as the weekend arrives, we search for places to unwind and socialize. Trying out new places and getting acquainted with new cuisines is the trend, which is catching up fast.


Home Delivery Has Been a Blessing

Picture this! You’ve had a long tiring day, cooking is out of the question and you’re too tired to visit a restaurant. So, what’s the option left with you? Home delivery! You don’t need to go to a restaurant to indulge in your favourite food. You can simply get it delivered to your doorstep and relish your meal within the cozy walls of your home. Also, in a generation that’s always on a lookout for everything ‘instant’, home deliveries and take-away food has been a boon. The trend of food delivery has gained momentum in India and is expected to grow by leaps and bounds in the coming years.


Introduction of Food Apps That Have Been Rewarding

Amidst all this, our tech-savvy generation has invented numerous food apps that make your life easier by giving you a systematic and elaborate information on all the restaurants within your vicinity or any area of your choice. All you need to do is select an area and Voila! You have a complete list of restaurants along with their address, contact number, images, ratings, reviews, etc., making it simpler for you to pick and choose.


Convenience of Online Payment

There are no two ways about the fact that the internet has changed the way we live and has been instrumental in making our lives simpler. Similarly, the world of online payment is evolving in order to meet the needs of the diverse and dynamic consumers. As of today, there are several payment gateways, which have been made available to us. Gone are the days where we needed to carry our wallets while ordering food, and today everyone’s got a virtual wallet, which makes payment easy. The next big thing enables you to not have to install multiple payments apps because downloading an online account simply does the trick. It makes transactions easy as it allows you to carry the bank on your phone.

So, the next time you think about ordering food and paying for it, Go Digital! 

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.