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ICICI Securities Report
We surveyed 220 restaurants across 40 cities and towns pan-India between March 25, 2024 and March 10, 2024, to assess various parameters such as commissions charged by food aggregators, restaurant-level average order values, propensity of restaurant partners to advertise on the food aggregators' platforms, ad-spend effectiveness for restaurants and usage of Hyperpure by restaurants.
This is the second iteration of the survey. We find:
Commissions (commissions only) remain stable at the aggregate level (median: 23%; unchanged).
63% of restaurants surveyed advertise on food aggregators (versus 53% in September 2023); 91% of users had a positive experience, up from 88% in September 2023.
Proportion of Hyperpure users moderated slightly to 34% (versus 37% in Sep-23).
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