Restaurants Ready to Score Big with ICC 2023 World Cup Cheer
October is the festival month for food delivery platforms, and the restaurants are working by putting their efforts into wooing customers and enhancing home delivery services. This is mainly interlinked with the ICC Men’s World Cup era. The analyst Jefferies said on Wednesday that the ICC Men’s World Cup is coinciding with the Indian festivals, and it will impact the delivery firms, liquor stores, and also the soft drink makers. Obviously, retailers and malls may also experience a lower fall in business during this period.
“While overall consumption should see an upside there will be winners and losers. Of the 16 weekend days over the next two months, nearly half will have an India match or semi-final or final. On India match days, there should be negative impact on footfalls for movie theatres, theme parks and offline retail stores,” the analysts said in a note. “On the other hand, the ICC Men’s Cricket World Cup will provide boost to food delivery, quick commerce, alcoholic beverages, soft drinks, media and online gaming, etc. We expect firms to run world cup-specific promotions on the match days to tap this consumption boost,” they added. Ravi Shastri Inquires About Babar Azam’s Hyderabad Biryani Experience
“Delivery definitely will get a boost when the matches are on; We have also put up stalls inside stadiums. On delivery, we are working internally with our supply chain team to enhance our bandwidth starting Sunday. We feel the India match on 8th will be a real kicker,” The Co-founder and the Chief executive of WOW! Momo Sagar Daryani, said.
In the months of January and June, the business of the restaurant is poor, said Daryani “Even September was a very bad month for food and beverage business. But October-November will be on the upside with Diwali in November. The next three months look very exciting.”
Cricket is the most popular sport in India and attracts 85% of all sports sponsorship and media spending. In general, beverage and food firms are seeing an increase in the business. “Our teams will diligently manage peak-time orders with our delivery partners. Match Day Mania, cherished by millions in over 500 cities in full swing. We will help consumers discover restaurants screening live matches,” Swiggy’s vice president, national business head, Sidharth Bhakoo said.
India has been hosting the ODI ICC Men’s World Cup for 12 years, and lastly, it hosted it in 2011; nearly 1.2 million spectators attended the matches in the stadiums. Over the next 45 days, the 13th edition of the Cricket World Cup will see 10 teams compete in 48 matches.
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