ABSTRACT
PurposeThe pervasive impact of the COVID-19 virus on the food services sector in India has created conditions for fundamentally altering the structure of the industry. This paper offers a nuanced evaluation of the transfiguration of the market, explaining descriptive views supported by numerous secondary data sources.Design/methodology/approachThis is a self-driven study grounded in secondary data. Qualitative and quantitative assessments are assimilated from credible market research reports of multiple agencies in the Indian context, as well as news developments during the pandemic period.FindingsDigitally pivoted platforms such as cloud kitchens and delivery aggregators will eclipse all other formats due to the potential long-term prevalence of the COVID-19 virus. These formats would rise to a dominant position in the Indian food services sector in the coming decade.Research limitations/implicationsThis study is entirely driven by secondary data due to the inherent difficulties of collecting sizeable and good quality primary data as a result of the lengthy and stringent lockdowns imposed across India. Future studies should consider collecting consumer responses to get a better picture of changing dining habits in the post-pandemic scenario.Practical implicationsThe dynamic and evolving food services in India, catalyzed by the Internet and digital technologies will help academicians study the long-term implications of this change, and how it would impact society at large. The paper provides a rich body of contemporary data and analysis in the food services sphere.Social implicationsThe COVID-19 pandemic and its long-term persistence would dramatically alter food service consumption across India. This will not only change how the industry is structured, but will reshape how food is consumed into the future.Originality/valueThe study is a holistic examination of the relationship between the coronavirus pandemic and the food services industry in India. The macro perspectives aided by news coverage and industry research would help generate potential research questions on its own merits.
ABSTRACT
Learning outcomes: ▪ Identify and explain the factors that contribute to the success of a restaurant business. ▪ Analyse different sources of entrepreneurial finance. ▪ Identify and explain local entrepreneur's expectations from a funding agency. ▪ Evaluate investment decision-making criteria for entrepreneurial funding agencies. Case overview/synopsis: Kartikey Rajput, the promoter of a food park Urban Chowk, was waiting for the Covid regulations in the country to be relaxed. The entrepreneur in him found a business opportunity to provide hygienic food with a beautiful ambience and floated a food park (Urban Chowk) with the support of his wife Nikita Agrawal in 2017 and the second edition amidst Covid in 2020. The business model was well-appreciated by food vendors as well as customers. Rajput could see future growth potential in urban India. But his aggressive business plan to open five food parks in different cities in the next three years was disrupted due to the Covid pandemic. The expansion required huge investments, and post-pandemic challenges were plenty. The decision to go beyond Ahmedabad required the selection of cities besides the major challenge of the financing choice. The new cities might have huge footfall potential but finding the right location at the right price was a different challenge. Rajput was also concerned with the sources of getting the required finances. The entrepreneur was contemplating and evaluating the alternative sources of finance available to a start-up. Complexity academic level: This case is appropriate for a graduate and post-graduate level programme in the courses like entrepreneurial finance, entrepreneurship and strategy. This case can also be used in an executive programme on management and Management Development Programmes (MDPs) on entrepreneurship or entrepreneurial finance. Supplementary materials: Teaching notes are available for educators only. Subject Code: CSS 1: Accounting and Finance. © 2022, Emerald Publishing Limited.
ABSTRACT
This review article analyses the premium “fine dining” segment of the Indian food services sector, examining trends during the COVID-19 pandemic. Specifically, we discuss the challenges encountered and initiatives taken in response to the global coronavirus outbreak. Using secondary data from market research agencies and government reports, the future of fine dining is conceptualised, supported by academic literature. Our analysis found that the fine dining segment has been shrinking since 2015, with slower overall growth rates than all other segments of the hospitality industry. The augmentation of fine dining restaurants with food delivery services, apps and aggregators is transforming the essence of the sector and foreshadows an ambiguous future. This study of contracting food services in India will aid practitioners studying the challenges and opportunities of this evolving market and how to adapt to a “new normal”. The article contributes to the literature because there are few studies of fine dining in India and research on the impact of COVID-19 on food services is still under development.