Data, an important ingredient in building a successful food delivery business
Tags: Data Scraping Software, Data Scraping, Data Scraping Tools, Food Delivery, Web Data

Data, an important ingredient in building a successful food delivery business WITSY Follow May 13 · 4 min read

The world is changing quickly and so are the consumers’ preferences and habits. Hence every industry is racing to align its service and offerings to stay aligned with the changing customer demands. In the food delivery business, the traditional dining out experience is giving away to dining in. Customers are trading tables and waitstaff for the comfort of sofas and packaged food boxes. According to an Upserve survey, the online food delivery industry is worth $103 billion:

More than 63% of the population prefers to order food online rather than dining out with friends and family.

53% of residents spend at least $50 on every order.

The global food delivery market size will be worth more than $365 billion industry by 2030.

Amidst the ongoing Coronavirus pandemic, when most businesses, big or small, in the food industry, are facing an imminent downsizing if not a complete shutdown. The online food delivery industry is on an upward trajectory. Witnessing far more sales when compared to last year. Leaving most of them scrambling for additional resources, both human and digital. These increasing numbers of online food orders also generate a massive amount of online data on consumer demography, food choices, spending habits, and more.

Here are some interesting facts on the upsurge of food delivery businesses:

Source: McKinsey, Research & Markets, Deliveroo, Uber Eats, Statista, Numerator, PrioriData, ValuePenguin

Source: McKinsey, Research & Markets, Deliveroo, Uber Eats, Statista, Numerator, PrioriData, ValuePenguin

This increasing amount of data has massive potential to unlock further opportunities if harnessed.

Here’s how web data can help you outshine from the rest…

1) Analyze customer sentiments

The world of social media has engulfed everyone across all age groups. Over 1.7 MB of data is being generated by each user on social media. Everyone is sharing photos or uploading videos of their favourite restaurant, so it becomes crucial to gain deep insights into your customers’ sentiments. Thus, leveraging the power of social media, you can better understand your target audience, your competitors, and the market as a whole.

2) Monitor unpredictable pricing

Due to immense competition, adopting a pricing model that can keep up with the fluctuating market prices is very challenging. It can eventually kick a business out of the race. Utilizing the power of web data, you can easily monitor your competitor’s prices and can implement automated dynamic pricing to become a chalk horse of the game.

3) Perform competitive analysis

The online food delivery industry has a competitive landscape. By staying aware of your competitor’s next move, you can put yourself in a position to outshine from the rest. You can effectively create value propositions, promotions, offers, great deals and strike a chord with your target audience quite easily.

4) Identify new markets

The food businesses can expand their horizons for their market reach. The players in the food business especially high-end restaurants upgraded from the restaurant market to home delivery. These restaurants are partnering with brands like Deliveroo and Foodora that operate globally. You can easily upgrade by identifying new locations, food types, and market mix.

Source: McKinsey, Research & Markets, Deliveroo, Uber Eats, Statista, Numerator, PrioriData, ValuePenguin

Source: McKinsey, Research & Markets, Deliveroo, Uber Eats, Statista, Numerator, PrioriData, ValuePenguin

Few data points that can be collected and analyzed by the food delivery industry are listed here:

Restaurant URL,

Restaurant Name

Restaurant Type

Cuisine Type

Rating

Discounts

Working Hours

Location

Address

Phone Numbers

Contact Email

Restaurant Own Website

Food Menu

Menu Image URL

Logo Image URL

Facilities Available

reviews and comments on social media

posts customer share on social networks

This information helps food delivery companies not only to gauge competition but also monitor customer emotions on social media, and immediately react to complaints, personalize food offers. It also gives them insights into what customers want from their service: what types of food they’ll order, when, and how often.

Businesses across the globe are fading out due to a lack of quality data. Web data integration focuses on acquiring and managing data. Webgrinder can revolutionize the way you work with data. The automated AI-powered tool can deliver insights within hours rather than in months.

Contact us to discuss your web data requirements for the food delivery industry.