Year: 2021

johncart published in Technology

Online Food delivery Business Model Explained

Everyone needs food, but not everyone likes shopping. In a society where time is of the essence, many people are happy to pay to have their groceries delivered by someone else. You should market research, advertise and research local business licensing requirements just like you would when starting a business. However, if you have a reliable vehicle and the time to drive, the service can be profitable.

 

Consumers are quick to buy food online. According to Orian Research, the global online supermarket market is expected to grow at a CAGR of 23.7 percent between 2020 and 2025. According to another study, the food e-commerce market is expected to grow to $250 billion in the next five years.

This estimate will undoubtedly spark the curiosity of many entrepreneurs in the food eCommerce market. This blog aims to give such entrepreneurs a thorough understanding of how an online food marketplace works, as well as numerous revenue channels, crucial features and helpful ideas and growth hacks to help them get ahead of the competition.

Things to consider before starting an online supermarket

 

You should focus on the following elements to be successful in starting and managing an online supermarket business:

  • Choosing and improving (if necessary) a supermarket business model
  • We create a roadmap for transforming the business model in a flexible, efficient and accurate model.
  • Identify your target market Identify
  • the delivery zones
  • Analyze your competitors
  • Website and smartphone apps for groceries

Entrepreneurs or business owners often waste a lot of time and resources determining the best business model for supermarkets based on all these aspects.

We’ve outlined four primary business models in the food industry, along with examples of market players, to help you.

A Few Key Figures on the Food Delivery Business Model

 

At least twice a week, 60 percent of US consumers order food online.

Millennials want food delivered to their homes so they can watch movies and TV shows at their leisure.

In the aftermath of the COVID 19 crisis, the food delivery app is expected to grow at a 5% CAGR to $154.3 billion by 2023.

60 percent of restaurants agree that taking orders online and having them delivered has resulted in increased sales.

The annual average has risen by 20% as a result of delivery sales.

 

In view of the Corona recession, here is a percentage graph displaying the number of people who intend to expand their food delivery services.

What is the procedure for using an online food ordering platform?

 

Marketplace Owner/Admin, Merchant, Customer, and Delivery Management are the four types of stakeholders involved in the operation of an online food ordering marketplace. The following is a breakdown of how an online food ordering marketplace works:

 

  • The platform’s administrator forms partnerships with merchants from all over the world and adds a number of restaurants.
  • Merchants include, among other things, the name of the restaurant, menu items, operating hours, working days, and packaging information.
  • Customers can use their email address or a social media account to sign up for the platform.
  • After completing the registration process, customers use an advanced search tool provided on the platform to locate their favourite restaurants and select food items.
  • Customers confirm their orders by paying for them using their preferred method of payment.
  • Merchants accept the order and begin preparing the food based on the customers’ suggestions.
  • When delivery boys receive order requests, they go to the merchant’s location to pick up the order.

 

Customers can track the status of their orders as well as the delivery team’s location in real time.

The delivery team picks up the food when it’s ready and delivers it to the customers. Order delivery is handled by either the platform/app owner or the merchant.

The marketplace owner receives a portion of the commission from each order placed through the platform, with the remainder going to the merchant’s account.

Summing Up

You can select one of these three food delivery business models depending on your demands. Each of the three food delivery service business models has its own set of advantages and disadvantages. Make extensive research into your business and select the option that best suits your food delivery startup.

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haleen published in Business

Is the Composition of Human Translators And Machine Translation Software Effective?

With the advent of the internet, the availability of professional translation services has become impressively apparent. However, enabling a balance between neural machine translations and professional human translators is still prevalent. This notion became more obvious with the eventual focus upon the process of localization. Nowadays, translation agencies such as Spanish translation services, are not prone to provide simple word-to-word translations.

Rather directing energies and resources towards localizing content is more popular among the firms in this discipline. The main reason behind this popularity is that it enables companies to expand their language portfolios and offer multiple languages to their clients.

In this article, we will discuss how the balanced composition of human translations and machine translations can enable an effective and efficient localization process.

The Concoction of Machine translation software and Human translations vis-a-vis Localization Process

Initially, what happened was that if someone wanted to evaluate how good a translated content was, then they would use two aspects to judge that. The first is the adequacy of the content. And the second is how fluent the content is. So if you are offering English translation services, your content’s evaluations will be judged on how easy it is to comprehend the passage and if it contains all the important points mentioned in the original passage. Meanwhile, keeping all the idiomatic phrases, double meanings, cultural and linguistic preferences, nuances, and intricacies intact.

Many people often misunderstand the concept of fluency. It pertains to the grammatical components of the target language. No matter what the discipline of translation is, if it’s gaming translation services or financial translations, there is no perfect translated content.

So it does not matter how advanced the machine translation software is, it can never give you a hundred percent result in the above-mentioned aspects. Moreover, this neural translation software, also can never fully understand the cultural diameter of the target audience. Hence, you can never solely depend upon automatic service-oriented software to justify the process of localization.

For instance, if you are a language agency that offers Spanish translation services, a professional human translator who is an expert in the Spanish language, can work better on an online chatting platform, as compared to a machine translation software. Moreover, if you are interacting with important and confidential information such as financial or legal stuff, it would be an unwise decision to rely on machine translations. Therefore, a better strategy is to combine both the human and machine elements to deliver quality translations.

 

Humans are better suited to offer translation services in one particular language, rather than offering to translate content into multiple languages. So for a localization agency, the best way is to combine the human aspect with machine translation services, to fill up any remaining gaps or inefficiencies. But it all depends upon how human translators are utilized with the machine translations.

Various firms like English translation services combine their machine translations with human translators focusing on re-editing and revising the translated content in comparison with the original content.

A Path Full of Challenges

Many translation services, especially gaming translation services, utilize the composition of neural machine translation services and professional human translations to reach an optimization level of their operations. In this way, they can diminish their costs and provide high volumes of translated content in a short time.

Many proclaim that you can’t provide quality-oriented work with a small budget. This statement would have been true a couple of decades ago. But, in today’s global and technological age, you can generate a significant amount of output from a small input. However, you need to design a mechanism and proper methodology to do that.

The first aspect is to give a lot of importance to the human factor. Humans tend to make mistakes. And there is a high probability that they might not be able to remain consistent and maintain the highest quality level at all times. In this case, you would have to incorporate the use of neural translation systems to fill in any loopholes.


However, it’s vital to maintain a balanced interactive session between humans and machines. There should be a unification between these two rather than a divergence. Moreover, the most crucial aspect is to see if the human translators are executing their tasks properly. Quality control check with impartiality is something a machine or software is intrinsically good at. Hence, they should be utilized to reduce the expenses incurred due to a translator’s work.

Human activities can only be fruitful if the entire organizational structure supports and nourishes such behaviors. In a professional agency, the primary challenge is to ensure that humans are checking the results produced by the machines. And giving them an objective perspective on how the professional translators are fulfilling their day-to-day tasks. And secondly, to see if machine translation software is able to reduce human efforts by meaning the vocabulary database and providing human translators with the appropriate words during the translation process, so that time could be saved. 

Conclusion

In this article, we tried to discuss how the concoction of machine translations and human translators can enable efficient translation processes. However, the results may vary from organization to organization. And, there is no substantial evidence that this composition always gives affirmative results. Nonetheless, the aim is to make the translation process efficient. Enabling machine software to conduct quality control checks on humans and vice versa in different tasks can help translation services to reduce a lot of their costs. It can also increase the number of translations that can be produced in a period.

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