Friday, February 3, 2023

Deliveroo And You, And Restaurants Too.

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George Soto
George Soto
George Soto is a national journalist with nearly 15 years. While studying journalism at Chicago, George found a passion for finding currency stories. George mostly covers cryptocurrency, NFT, blockchain and other business related issues.

Technology has changed how we live; this has even extended to how we eat. Most of us used to go out to restaurants if we didn’t want to cook, as there was quite a limited range of places that offered take out or delivery. However, through technology, and services like Uber Eats, Menulog and Deliveroo, getting takeaway is easier than ever. But how far has this gone? Is this potentially the end for restaurants?


What is the market like?

Currently, 1% of the total food market is taken up by delivery with fast food and restaurants still having 4% hold over the market. This isn’t to say that delivery isn’t popular or profitable, as the food delivery market is worth $83 billion world wide, and its still growing. The annual growth rate is estimated at about 3.5% over the next five years.


Has the market changed?

In short, yes. Figures from National Australia Bank show that takeaway sales have risen 56.1% which answers for 5.8% of Australia’s total online spending of 20.1 billion. With the ease of online ordering these days, 58% of people are ordering takeaway during the week. More than half of that number are choosing to eat in front of the TV. Essentially, we are seeing a change in how people view eating dinner. Instead of dinner being the focus of the evening, a lot of people would prefer ease and convince rather than making a meal and sitting at the table to eat it.


Why has it changed?

Many people are blaming long working hours and feeling stressed for the lack of home cooked meals. In Australia quarter of the population are one person households, this is leading to people finding it pointless to cook a meal for one. The effort involved just isn’t worth it when eating alone. The change in society’s structure is also a reason for this, as people are getting married and having children later in life, there is less emphasis on family meal times. Lack of planning is also another issue, most people go shopping but forget to plan, meaning they are unsure and too tired to cook mid week, making takeaway a quick and easy alternative. Finally, ordering food online is just easier now. The apps available allow Australians to compare and choose whatever they want to eat without moving; within half an hour the meal is brought straight to your door. Everyone wants an easy life, and ordering online provides that.


What does this mean for restaurants?

It isn’t all doom and gloom for restaurants though, despite ordering takeaway throughout the week, many Aussies are still eating at restaurants over the weekend. Its also important to remember that even though people are ordering food instead of going out to get it, that food still needs preparing. The increase in people choosing to order is actually good for restaurants, it just means they have to adapt. By creating online only menus and adjusting opening hours, restaurants are still able to flourish.

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