How streaming services such as Netflix, Amazon and Hotstar are helping drive sales for food delivery platforms like Zomato and Swiggy.
Feeding Screenagers: As per this intriguing report, streaming services such as Netflix, Amazon and Hotstar are helping drive sales of online food delivery entities, ready-to-eat products and single-serve snacks.
“Studies have shown spikes in ordering on weekends between 10 pm and 1 am, which is also the time for binge watching on OTT platforms. This has extended the traditional prime time that ended around 10 pm,” noted Ashu Phakey, Vice President and Business Head (frozen foods) at ITC.
“OTT provides an alternative for home entertainment and is among the key factors that have triggered a spike in delivery, the others being convenience and traffic,” said Riyaaz Amlani, Managing Director, Impresario Entertainment & Hospitality.
Food Wars: European food-delivery giant Delivery Hero has agreed to buy a South Korean rival for $4bn, heating up the global battle to meet growing consumer demand for delivered meals.
Online food-delivery businesses across the globe are joining forces and attracting investment as more consumers prefer to have their meals delivered to dining out. Asia in particular is seen as a hot market, where a rising middle class offers hundreds of millions of potential new customers. However, tapping that potential is costly and companies have struggled to make a profit. Get the full scoop here.
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