Seeing too many posts about food in your Insta feed these days? It seems that the Gen Y kids of India has developed quite a palate for restaurant food. A majority of Indian millennials in cities, including Delhi, eat out over three times in a month, reveals a survey.
CBRE, a real estate company, conducted a survey among more than 1,200 restaurants in key locations of Delhi/NCR, Mumbai and Bengaluru. It was found that 60 per cent of Indian millennials make more than three visits a month for eating out, read a statement.
Indian cuisine still dominates the country's taste palate with a 24 per cent share, followed by multi-cuisine with a 22 per cent share. Asian cuisine and cafes are the third and fourth preferred choices of diners.
Other cuisines including Mexican, Mediterranean, Lebanese and Arabian are gaining significant traction among consumers.
Indian cuisine offerings too are evolving with restaurants specialising in Odiya, Bengali, North Eastern, Tibetan, Chettinad and Awadhi cuisines.
Casual dining restaurants (CDR) are a category that has gained significant traction in the past couple of years, accounting for almost 46 per cent of all restaurants that were part of the survey.
In terms of nationality, almost 82 per cent of the restaurants were domestic standalone outlet/chains with around 18 per cent restaurants being of international origin.
US-based restaurants accounted for almost 70 per cent of the restaurants in the international category.
In terms of location, choices were divergent; while 62 per cent of all international restaurants are located in malls; 68 per cent of all domestic restaurants are located on high streets.
"Increasing globalisation, growing exposure to international trends and cuisines have led to India's food and beverage segment going through a transformation in recent years.
"This evolution is positively impacting the real estate sector as well with allocation for restaurant spaces going up in high streets and organised retail developments," Anshuman Magazine, Chairman, India and South East Asia, CBRE, said in a statement.
On the impact of Food and Beverage (F&B) on the real estate landscape, Vivek Kaul, Head, Retail Services India for CBRE South Asia Pvt Ltd, said: "Today we are seeing more space being allocated for F&B in malls, the emergence of dedicated F&B clusters, food festivals taking place, F&B pop ups, and increased allocations in commercial buildings for F&B.
"These developments signify the growing prominence of F&B in our retail landscape. Planning for F&B is no longer an afterthought, it is integral to the planning stages of retail developments."
