How US Food Delivery Industry is Evolving?

Technology has created a huge impact on almost every walk of our daily lives. It has taken the world by surprise. Every day something new is invented in the world of technology. We as humans, tend to fall towards simplicity, comfort, and ease in everything we do. So we are constantly looking to make our everyday processes easier and quicker. And, we do that by taking help from the diversity of technology. Nowadays, almost our every daily process is automated. We are restricting ourselves to the comfort of our couches and performing everyday chores.

For example: purchasing clothes, doing laundry, ordering groceries, and food. Talking about food specifically, the food delivery industry has evolved a lot in the past couple of years. People now prefer to order food from their homes and offices rather than visiting a restaurant and getting the food as a takeaway. Since Pizza Hut launched the first ever online pizza delivery service back in the days in 1994, online food delivery has become a billion-dollar industry. After Pizza Hut in 1995, an online food delivery company started called World Wide Waiter. It made a huge change in the industry by onboarding the chain of more than 60 restaurants in San Francisco.

The Stats

According to Statistica, the expected revenue generated from online food delivery in the US is approximately $63.01 Billion. And by 2027, this revenue is expected to increase by $96.5 Billion. This gives you a brief idea about the hat the US food delivery business is evolving at a rapid pace. Also, there is number of people who prefer to order through a platform is greater than the number of people who order directly from the restaurant.

The reason for that is people prefer to order from multiple restaurants, so they want to have an option where they can find all the nearby restaurants in one place. Rather than going online and searching for the specific website of the restaurant and ordering from there. Ease and simplicity is the key. So, a huge potential exists for start-ups to launch food delivery platforms as mobile applications to cater to this ever-increasing customer demand. A food delivery mobile application makes it easy for consumers to order from the multiple vendor and restaurants.

Platform-Based Food Delivery

Multiple platforms have emerged in the past to provide food delivery services to customers and have turned themselves into Unicorn companies. These platforms have performed really well in terms of revenue over the years. Even after COVID-19, the food delivery industry has increased more than twice as compared to past years. This brings in competition among the platforms to capitalize on the available opportunity and take the largest share of the market.

This has led to the introduction of TVP aka True Value Product. Which is an upcoming food delivery start-up that is expected to launch in early 2023 to take its market share in the food delivery industry. They provide a mobile app for both Android and iOS that will have all the major restaurants in one place. A mobile application and a web application will be available for the users through which they can place their orders. What makes TVP stand out from the list of other existing platforms is that it ensures the safety of food delivery. Orders will be tracked and will be kept in check. Secure OTP sharing is the main feature of TVP that will be shared between the customer and the rider to ensure that the right order reaches the right customer. And lots of other exciting features and discounts will be added to the platform to make it more attractive for the customers.