Recently we hosted a fascinating webinar which is now available On-Demand which covers market insights, the competitive landscape, and learnings from food delivery apps that can be applied to retail, grocery, and more.
This session was a conversation with Judah Rosen from Watchful and Rafael (Rafa) Barbalat, a Principal at Prosus Group. Prosus Group has the world’s leading online food delivery footprint, operating in 70+ countries around the world. Rafa leads Strategy and Investments for a global portfolio of leading food delivery companies including iFood, Delivery Hero, Swiggy, Flink, Foodics, Oda and Sharebite.
Food delivery apps have undergone a profound transformation over the past decade, presenting a compelling blueprint for forward-thinking eCommerce enterprises to propel their own success. Here are a couple of strategic gems we learned from the session:
Not all membership & loyalty programmes are built equal
For decades, loyalty programs have been key in industries such as airlines, hotels, and food chains to build strong and lasting relationships with customers. However, it is important to take a closer look at the business objective behind your membership or loyalty program. Some companies are focusing on increasing revenues, others will go after profitability, others want market share. Creating a program needs to start with clarity on what the business is trying to accomplish, and the execution must deliver great value all round – never at the expense of the business in the long-term!
Personalizing Pricing Strategies to deliver additional value
Companies looking at delivery should be smart about how you price your product or services. Understand what different customers are willing to pay, and bundle different products and services that speak directly to the personalized needs of your customers. In addition, be clear and transparent about the value that your customer is paying for and a breakdown of the cost – including how much they’re saving.
There is a whole new world to be closer to customers
Improvement in last mile deliveries means that the speed and agility we saw in food delivery companies, is also now being leveraged by retailers. A customer that discovers a Tshirt online, can purchase it and have it in their doorstep within an hour. End-to-end customer journeys are getting short. This new dynamic brings enormous opportunities for retailers to gain near-real time insights and feedback from their customers.
To learn more about examples of companies who are making a difference in the delivery space and some of the best practices and things to avoid as you build out your strategy, watch the full session now here.