The earnings reports of the first two quarters of listed restaurant and food companies point to a broader trend of sluggish growth amid macroeconomic headwinds.
As Indian consumers experiment with a variety of cuisines, the pizza, once a favourite, has begun to lose favour with consumers. Biryani is a hot favourite, as are burgers and fried chicken.
Fashion discovery platform Magicpin is set to spend INR 50 crore ($7.2 million) on consumer discounts during the cricket World Cup. The company plans to offer up to INR 100 crore towards consumer savings depending on the success of the campaign. Users can enjoy discounts at popular food chains such as McDonald s, Pizza Hut, and Barbeque Nation on delivery orders throughout the tournament. Magicpin aims to provide the best savings deals and has seen a 2x growth in its food delivery business month-on-month. Discounts are also available throughout the year on other categories.