The impact of the Covid-19 pandemic on online food aggregators in 2020 was mixed as consumers spent more money on fewer orders, as per data released by online payments services provider PayU India on Tuesday.
Total number of online food order payments on PayU India’s platform declined by 28%, while the expenditure increased by 22% and the average ticket size increased by 71%, in 2020 versus 2019.
“This is possibly because although fewer orders were placed, consumer preferred to shop from more expensive, branded food outlets which could guarantee hygiene,” the Indian unit of Hoofddorp, Netherlands headquartered fintech firm PayU Global, said.
As per the findings, PayU India witnessed a 24% rise in total volume of transactions and 23% rise in total value of transactions on its platform in 2020 versus 2019, thanks to a pandemic-driven boost in online payments business across the board.
The company did not disclose transactional figures of the findings. In India, PayU serves over 450,000 merchants with over 100 local payment methods.
Other key findings from the statement:
- Payments in the online video streaming (OTT) segment witnessed a 144% increase in the volume of transactions and a 139% increase in value.
- Gaming payments saw a 100% rise in value of transactions and a 154% increase in average ticket size.
- Edtech payments saw a 78% increase in the volume of transactions and a 44% increase in value.
- Highest increase in volume of transactions was from North-Eastern states of Nagaland (93%), Meghalaya (82%), Manipur (74%), Arunachal Pradesh (66%) and Tripura (63%).