Success Case Study: Licious Meat and Seafood
- Pages: 23
- Published: August 2019
- Report Code: CS1957SF
Licious, a start-up that primarily sells meat and seafood products, has witnessed a 300% rise in revenues, and six-fold growth in daily orders, in the four years since its inception.
In 2015, Licious, a start-up based in Bengaluru, India, commenced online sales of products such as fresh and processed meat and fish, meat-based and fish-based pickles, soups, and spreads. The company aimed to develop a branded fresh chilled meat, fish, and seafood product in the Indian market, where these products are largely commoditized and sold through open markets and traditional butchers and fishmongers.
– Licious capitalized on the rising consumption of meat, fish, and seafood in India, despite the country being known for its very large base of vegetarians.
– Adopting a "farm-to-fork" strategy, Licious maintains tight control over quality in its integrated supply chain, which appeals to a growing number of consumers who are willing to pay more for better-quality food and drink.
– The convenience provided by Licious’ online retail model suits time-poor younger urban consumers, who often have to contend with unpleasant experiences when shopping for meat and seafood in wet markets or traditional butchers and fishmongers.
– Food tech start-ups using product-first and customer-focused strategies backed by an advanced technological backbone can scale up their customer following faster and monetize strong consumer loyalty and word-of-mouth publicity.
Reasons to buy
– Reduce the risk of failure by learning from brands/products that have under-performed: failed innovation can severely impact profit and reputation.
– Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
– Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
– Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Table of Contents
Table of Contents