snackchat

In their own words

‌Company purpose: Snacking is an app that lets you skip the line, collect reward points, get discounts at restaurants near you! Snacking also powers Online Ordering and Virtual Menu (QR codes) for many of your favorite places to eat!Problem: Food delivery apps, one pillar of the story, have unlocked a $100B billion dollar market. But we think that’s just the beginning. For consumers to get access to a wide selection of affordable, convenient, and delicious food on an everyday basis, they need access to multiple options—especially when delivery can be expensive or inconvenient. Yes, there are and will be apps that bring groceries and meal kits when people want to cook. There will also be apps for easy and fast food delivery. Snacking fills another big need: "Open an app, check out all the nearby places to grab coffee, get an ice cream, pick up a sandwich—small, everyday orders that you might not want to have delivered to you because of costs and tips—and get it without waiting in line." Solution:Takeout is an important market because it’s not only very large – but its extremely fragmented, with lots of sole-proprietorships and small businesses. Take out drives meaningful sales to restaurants of all types – with consumers increasingly expecting to order ahead for their food. For the average restaurant, 59% of all their orders from millennials alone are said to be ordered for takeout!lWhy now: Snacking launched at an important moment in the intersection of technology, food and restaurants, and consumers. Food delivery apps, one pillar of the story, have unlocked a $100B billion dollar market. But we think that’s just the beginning. For consumers to get access to a wide selection of affordable, convenient, and delicious food on an everyday basis, they need access to multiple optionsMarket potential:“What people don’t realize is delivery is only 8% of the restaurant industry,” “And while it’s very much competed for by like big companies, and it’s a huge market, the restaurant industry, is like, much bigger, it’s $800 billion. And 90% of that purchasing is still offline,” he continued, referring to the many people who just queue up, order, buy, and leave. “It’s anonymous, and it’s on the verge of disruption. And we’re focused on that much bigger blue ocean.”Its formula seems to be working with its target users. the service has 80% penetration with students .While our company snacking- focusing on take out orders .Takeout is an important market because it’s not only very large – but its extremely fragmented, with lots of sole-proprietorships and small businesses. Take out drives meaningful sales to restaurants of all types – with consumers increasingly expecting to order ahead for their food. For the average restaurant, 59% of all their orders from millennials alone are said to be ordered for takeout!Business model: What Does Snacking Charge? We charge a small fee per transaction, but don't worry, it's nothing like the high fees other 3rd party companies charge. Vision: Every marketplace product has at least two sides to the story, and for Snacking, it is the story of the small, local, mom-and-pop restaurants and coffee shops near campuses. As you might imagine, it’s not easy to thrive as a business in an era of increasing change: in food trends (and fads), heightened social media scrutiny, and the convenience of ordering via apps. At the same time, technology also provides a tremendous opportunity to engage and retain customers. There is upside in being able to use push notifications to do “flash sales” of new items or to launch new restaurants. Snacking partners closely with local businesses to help them succeed in this new era. The company uses its social reward programs to bring new customers to restaurants, manage the rush during peak hours, and offers analytics for restaurants to better retain their customers. Snacking charges a small fraction of every order—far less than delivery—making it an affordable and effective program for small local restaurants to adopt.

Written by the company on its public Startup India profile. Not verified by us.

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