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FoodTech

Helping FoodTech companies, HoReCa players and QSRs to stay up-to date with consumer preferences and trends, journey mapping, drivers of NPS and churn/retention

What We Do

Unit economics benchmarking
Market sizing and assessment
Comp intel and benchmarking
Price benchmarking
Voice of customers
Sector scan
Category trends
Category assessment
Customer NPS and loyalty
Customer purchase journey
Share of wallet
GTM research
Customer segmentation and persona mapping
Mystery shopping
Need & intent gap analysis

Unit economics benchmarking

What are the different revenue streams per customer? What are the drivers of revenue?
How much does it cost in time and money to service / acquire a customer? What is the LTV per customer?
What fixed and variable components are associated with servicing a customer?
What is the break-even scale and time taken to reach breakeven?

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Market sizing and assessment

How attractive is the market – TAM, SAM?
Which segments are driving growth – by product / service line, geography, customer segment, etc.?
How crowded is the competitive landscape?
How big can the market be? What are the drivers and barriers of adoption?
What differentiated offerings are driving adoption?
What is headroom for growth in the operating segments?
What are the opportunities for improvement?

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Comp intel and benchmarking

What are the most important themes to track the competition?
How is the competition performing across these themes?
What are the competitors doing differently in the market ?
Is the target losing / winning w.r.t competition? Why?
What are the plans of the competitors for the near future?
How to use digital tools for continuous tracking of competition?

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Price benchmarking

How to set the price for the new menu items / features / value proposition?
For the same menu items, how does the price stack against the competition?
For the same raw materials, how does the procurement price stack against the competition?
What are the factors that will lead to an increase in price that the customers are willing to pay?
How can the price be used as a strategy to win market share?

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Voice of customers

How do the customers perceive the company compared to the competition?
What is the value proposition of players? How does it vary across chain vs standalone?
What are the top 3 factors customers look for while visiting and ordering?
What are the pain points in the customer journey?
What is the rating given by customers across factors? What are the things to improve or maintain?

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Sector scan

What is the market attractiveness across sectors – macro-economic indicators, capital markets, etc? Is it growing or stagnant?
How has PE / VC interest caried across the sector?
What are the risks associated? Are there new entrants in the sector?
What is the digital adoption across the sector? Is there a significant advantage of digital adoption?
What are the best investible opportunities across the sector?

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Category trends

What are the different categories? How have they been growing?
What is the growth for the categories / sub-categories?
What are the growth drivers / barriers?
What are the changing customer needs?
What is the impact of new trends on unit economics? Which business models are doing well? Why?

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Category assessment

What is the market size of each category?
Who are the major players across categories – restaurants, cloud kitchens, etc.?
How does the value chain vary for each category – touch points, delivery, etc.?
How does the unit economics look like across business models / key competitors?
What are the changing customer needs / preferences?
What are the growth drivers / barriers?

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Customer NPS and loyalty

How satisfied is the customer?
What is the customer NPS? What are the drivers of NPS?
What are the common problems and pain points?
Benchmarking of customer satisfaction with the industry
What are global practices that can be implemented
What are the consumer dynamics with restaurants – repeat order frequency, ABV, etc.?

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Customer purchase journey

What does a typical customer journey look like?
What are the pain points at each stage in the purchase journey?
What are the various channels for purchasing – online vs offline?
What is the impact of offers / discounts on the conversion of customers?
What is the customer satisfaction with redressal channels – call / text / email?
What is the impact of offers / discounts on the conversion of the consumer?

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Share of wallet

What is the share of wallet of the competitor across product categories?
How can the client capture a higher share of the customer’s wallet?
How can the client retain the current share of the wallet?
What is the level of stickiness across menu item / food categories?
What are the triggers that would make customers shift to another brand?

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GTM research

How to identify the target market? On what basis?
What are the target market’s customer personas and their tastes and preferences?
What is the customer journey for the target market?
How to build awareness and generate demand in the target market?
How to develop the value chain necessary to run operations, from supplies to legal permits?

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Customer segmentation and persona mapping

What are the customer segments present across geographies?
What is the NCCS profile of different customers?
What are the different aspirations of the customers?
How is the digital presence of the customer – online shopping, subscribed to OTT platforms, usage of payment apps, etc?
What are the major customer archetypes?
How educated is the customer?
What is the online usage behaviour of the customers – frequency of visiting / ordering from restaurants, cloud kitchens, etc

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Mystery shopping

What is the customer journey? How does it vary across player to player?
What are the various industry benchmarks in the process and how does the player rate across them?
What are the various offerings / cuisines / dishes offered? How are they priced compared to competitors?
How was the quality of products and services?
What are the pain points in the journey? Are there any gaps?

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Need & intent gap analysis

Where does a gap exist in the market - supply or demand?
What are the underlying reasons for the gap?
How can the restaurants / delivery apps help in filling the gap?
How can the players upgrade their offerings to meet the unmet demand / gap in the market?
Are there any new entrants in the market that are focussing on the gaps?

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Connect with our FoodTech Experts

Hitesh Gossain

CEO, Network

Amar Choudhary

CEO, Intelligence & Insights

Abhishek Maiti

Director, Intelligence & Insights

Praneet Singhal

Director, Intelligence & Insights

Related Case Studies

Analyze needs and pain points across the supplier journey of restaurant partners for an online food delivery aggregator

Objective

An online food aggregator wanted to understand the needs and pain points of its restaurant partners

Methodology

Conducted in-depth interviews with restaurant owners/managers (N = 75) across metro cities in India to understand pain points across the supplier journey
With detailed analysis and latent needs based on discussions, identified whitespaces and addressed pain points for the client for engaging with the restaurant partners

Impact / Outcome

The client was able to understand the pain points and latent needs of restaurant partners across business operations

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Assess customer behavior through the online food ordering journey across platforms

Objective

Client wanted to understand the current trends in online food ordering across the customer journey: discovery, selection, add-to-cart, payment, fulfillment, customer support, etc.

Methodology

Conducted customer interviews (N = 120) across various customer segments (low-medium-high usage, platform preference, online vs offline, etc.) to gather insights around the online food ordering journey and understand key pain points across the critical steps
Based on the articulation of pain points and needs of customers, identified priority segments for the feature request and latent needs

Impact / Outcome

Successfully helped the client to understand the customer preferences for using online food ordering apps
Client was able to understand the customer journey, various pain points of the customers and how the online food delivery platforms are addressing them

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Consumer preferences and price sensitivity analysis for a leading online food delivery player

Objective

A FoodTech player wanted to understand customer preferences and price sensitivity and validate the pricing of different subscriptions it offers

Methodology

Conducted in-depth interviews with customers (N = 40+) with a diverse set of customer segments (students, working professionals, domestic migrants, etc.) to validate the offering and its associated pricing across the subscription model.
Understood types of subscription models in food home-delivery sought by customers (healthy, medicinal diet, khichdi, regular/staple meal, etc.) and their willingness to pay for these offerings across consumption frequency (a la carte, weekly, monthly, etc.)
Conducted customer survey (N = 200) to understand the overlap between order tendency vs price to derive the inflection point where players can generate maximum revenue (# orders vs $ price per order)

Impact / Outcome

Successfully provided the client with a deep, comprehensive perception of pricing for different subscriptions models and explain what is considered ‘value-for-money’ by customers
Client was able to understand the price sensitivity across customer personas and subscription models

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Evaluate customer behaviour, churn reasons and NPS for a leading FoodTech player

Objective

The client wanted to understand repeat order usage behavior, feedback, and purchase preferences of its customers in order to define improvement areas for the FoodTech brand

Methodology

Conducted N = 1,000 customer surveys to understand the perception, experience, and NPS of existing as well churned customers
Created a dynamic excel model and survey databook to identify patterns/trends in order frequency, order value, repeat purchase behavior, premium subscribers, etc. that drive retention vs churn of customers
Categorized reasons for churn into logical buckets & categories to drive actionable outcomes e.g., performance perception (quality, delivery, etc.), design issues (UI / UX, bugs, etc.), psychographics (brand perception and personal image, etc.)

Impact / Outcome

The client was able to understand the key pain points faced by the potential customers and get critical insights on reasons for churn, drivers of adoption, and detraction for the brand
Successfully provided the client with insights across 5 key areas to drive higher NPS

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Derive key customer personas and segments by studying online food ordering patterns for a FoodTech player

Objective

A FoodTech company wanted to identify customer personas based on online food ordering behavior and assess how their preferences vary across demographic, channels, offerings, etc.

Methodology

Conducted customer interviews (N = 30) to understand and segment different customer personas across parameters (low-medium-high usage, platform preference, online vs offline, etc.)
Conducted customer survey (N = 500) to understand key patterns within the identified segments
Understood patterns of common behavior / traits across the customer segments and personified these traits into distinct customer segments

Impact / Outcome

Created a unique set of customer personas in context of online food ordering in India with identifiers across demographic, spend preferences, and other behavioral attributes
Highlighted identifiers for these persona types that can be targeted by any FoodTech player in India

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