India QSR Story - Tempting Prospects: Nirmal Bang
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Nirmal Bang Report
The entry of international brands of Domino’s and McDonalds’s in India during the mid-1990s marked not just the emergence of the quick service restaurant format, but also paved the way for the growth of the organised food services industry in India, which was basically non-existent in the country.
The QSR format seems to be the perfect mix of maintaining decent consumer connect along with being lucrative.
Thus, over the years it has become an integral part of the industry as depicted by its ~11% contribution to the overall organised segment.
Over FY14-FY20, the QSR format grew at a compound annual growth rate of 19.1%, ahead of the chain market’s growth of 17.6% and much ahead of the overall organized market’s growth of 12.9%.
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