New Year’s Eve 2023 was exciting for India’s food delivery platforms, according to consulting firm Redseer Strategy Consultants.
The gross orders placed throughout the day were a record amount of 6.5 million, which is 18 per cent more than the 2022 New Year’s Eve.
2022 New Year’s Eve was tremendous, with a total of 5.5 million orders placed, compared to 5 million orders on New Year’s Eve 2021.
According to Redseer’s big data research of consumer behaviour, the rise in food delivery orders on New Year’s Eve 2023 was a countrywide event, with Metros, Tier one cities and the rest of India experiencing nearly identical increases in order volumes on this day.
The day began with GMV (gross merchandise value) in breakfast (orders placed between 6 a.m. and 11 a.m.) 1.5-2 times the daily average for the year. GMV shot up in dinner and late-night orders, which were 2.5-3 times the norm for other days.
Customers not only bought in larger quantities but also spent more per order. Redseer believes that the average order value was up to 30 per cent greater than on other days of the year.
“Spike days like the IPL, Cricket World Cups, Diwali, NYE etc., are critical for online food delivery services as customers order more and spend more,” said Abhijit Routray, Associate Partner at Redseer.
“It was heartening to see the jubilation in the ecosystem on NYE23 with a record number of orders being delivered, while customers reported high satisfaction with the services. More importantly, the fact that the momentum was seen across India and across city tiers was testament to the size of the opportunity in India,” Routray added.
