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Food delivery Industry's GMV At 85% of Pre-Covid Levels, Says Zomato

 


The food delivery industry has shown strong signs of recovery, clocking 85 per cent of pre-Covid gross merchandise value (GMV), according to a report by food delivery and restaurant discovery firm Zomato.

Delhi and Mumbai are nearing full recovery (95 per cent of pre-Covid), while metros such as Bengaluru, Hyderabad, and Chennai are still behind the curve (nearly 80% of pre-Covid). Some cities such as Kolkata, Patna, Jamshedpur, Ranchi, and Siliguri have recovered completely and have exceeded pre-Covid levels, said the Gurugram-based startup in its 'Mid Covid-19 report II'.

"With the ongoing IPL season and the subsequent festive season, we expect food delivery in both metros and smaller cities to make a full recovery soon – and resume growing over pre-Covid levels," said Deepinder Goyal, chief executive officer, Zomato in a blogpost on Wednesday.

The development comes after the company, in August, said around 40 per cent of the dining out restaurants may not reopen at all owing to the disruption caused by the Covid-19 pandemic.

Festivals and occasions such as Raksha Bandhan, Janmashtami, Teacher’s Day, and Independence Day saw a massive spike in orders with celebrations moving back home due to lockdown restrictions, the company said. "Customers, who had not ordered since the first day of lockdown, are 20 per cent more likely to order for the first time during such festivals and occasions."

Zomato also witnessed a larger number of affluent consumers embracing online ordering with more premium restaurants (where a meal for two may cost Rs 1500 and above) now opening up to online delivery. "Overall spends on such premium restaurants have grown by over 25 per cent over pre-Covid levels, the company said.

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