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Food E Commerce Is On The Rise And Cooking!

3305 words - 14 pages

The e-commerce itself is very broad and has been in existence for a long time. Bridging the gap between food and internet has taken a longer period (adoption of concept from the west) and is a revolution in e-retailing. Huge effort has been made on food e retailing in India by multinational companies like Rocket Internet GBMH and justeat. Many of the small entrepreneurs are investing in this kind of business because of low operating costs and large revenues it generates. Retailing of food and grocery is a major element of e commerce. Today a massive growth of food ecommerce is giving rise to new business models through which retailers conduct their delivery services. A large number of restaurant and food outlets have started outsourcing their delivery services to online food service providers that are known as third party distributors. These distributors come up with online business model like web portals to sell the products.
Consumer preferences play a very important role in purchasing on online stores. These preferences are formed when consumer comes across various attributes and features provided on web portals that will lead towards the intention to buy. There are seven most important dimensions that customer looks on online retail stores that are merchandise, convenience, reliability, interactivity, navigation, layout and promotional offers. Previously the entrepreneurs were involved in marketing and retailing of electronic items, books, CDs, DVDs etc. However nowadays we can see perishable items like food and grocery selling online that shows a great innovation in today’s market place. Apart from all the benefits, there is a great challenge of payment system being faced by online businesses. People feel somewhat reluctant to share their credit card information because lacking of proper payment facilitation vendors and chances of frauds, therefore the most preferable option these days among the third party food retailers is COD (Cash on delivery).
1.2 Food industry in India

India is known for home-cooked meals and prides itself on being a society in which food traditions stand strong. Yet restaurants such as Domino’s Pizza, McDonald’s and Pizza hut have not only made an entry into the market but have flourished. The Indian food industry has seen strong development over the past few years. The fast food chains are expanding into India’s smaller cities and the demand for premium brands across major cities has resulted in strong growth in past few years.
After China, India is the second largest producer of food in the world, and has the potential of becoming the largest producer in the years to come (Corporate Catalyst India, 2012). According to Ireena Vittal, principal, McKinsey & Co., the food retail sector in India is likely to rise to $150 billion in 2025 from $70 billion in 2008. One of the most promising sub-sectors is fast food, thus creating a large number of fast-growing food markets.
The organised food industry is estimated to grow...

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