Market Research and Feasibility Study for QSR Chains in India: Unlocking Growth in Tier 2 & 3 Cities

 The Quick Service Restaurant Business in India is flourishing at a staggering speed. Interestingly not just in big metros, but the concept of QSR and fast food outlets are flourishing in Tier 2 and 3 cities. Cities such as Kanpur, Lucknow, Patna, Coimbatore, Mysore, Panaji, Shimla, Bhopal, Indore, Trichy, Belgaum are some of the perfect ground for QSR businesses to flourish fast. In fact, already a wide range of Indian and international QSR outlets are thriving in these places. 

Young demographics, rise in disposable income, reverse migration, evolving consumer preferences, surge in online media has resulted in accelerated demand for QSRs, fast food centres, pizzerias, cafes, sandwitch & rolls corner, Chinese food centres, etc. 

Many such places are opting for the franchise model. Meanwhile local brands are also catching fast. These are locally made brands and are giving stiff competition to national and international brands. For instance, in Lucknow, Professor Chaiwala is growing fast. They recreate nostalgic desi style kadak masala chai in trendy café set ups. Likewise, in Punjab, Desi Urban Chai is growing fast, which offers tasty tea in a traditional kulhads.

As businesses are growing in smaller cities, there will be increased demand for customized market research and feasibility studies. New businesses will need access to value driven market research to understand more about the market. A market and/ or feasibility study an refurbish valuable insights about market size, addressable market size, future growth projections, business ecosystems. Similarly, customized studies can offer a lot of valuable inputs about consumer behaviour, consumer segments, marketing and positioning, financial projections and future growth roadmap, etc. 

For any such studies, feel free to drop us a mail at info@theindiawatch.com


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