Startup connecting food retailers with wholesalers #SuccessStory
Project Scope: a German startup specialized in connecting food independent retailers with food wholesalers through an app - in assessing their potential market expansion in France, Spain, UK, Italy, Poland, and Portugal.
Participants: Michela Teani ,Shruthi Subramanian, Anushka Sharma, Cedric Saba, Michela Teani, Tara Francoise, Lou Krijger, Juliette Estampes, Emily Perrott, Raphael Sassine, Gaspar da Silveira, Martina Di Carlo, Chiara Bagaini, Abhinav Verman & Elodie Desnault
Final Delivery: Excel files with shortlisted Top Food Wholesalers, Email statistics, Euromonitor reports.
Tasks: 1) Shortlist the Top Food Wholesalers in France & Spain.
2) Contact the shortlisted wholesalers in France & Spain to assess collaboration opportunities.
3) Market Research on Traditional Grocery Retailers and FMCG companies in 7 countries.
What we did:
1) We researched on Google/reports the Top Food Wholesalers and provided detailed info for each.
2) We sent out emails & made phone calls in local languages.
3) We researched Industry Data and Consumer Trends on Euromonitor/Statista.
Challenges faced & How the team overcame them:
Regarding the Task #2 about contacting the shortlisted wholesalers in France & Spain, it became challenging to get replies from the emails we were sending to the wholesalers. They did not show a good response rate. Therefore, (1) we modified the email template to make it more catchy; then (2) we selected new Point of Contacts for each wholesaler, targeting Head of Sales, Head of Marketing and Head of IT; finally, (3) we added to the list new wholesalers more category-specific. These improvements slightly raised the response rate, but still not reaching our goal. Together with the client, we concluded that those are difficult markets to enter, with many food wholesalers still being very traditional and not digital-friendly. It is very likely that in-person meetings would have been more successful.
1) Provided a detailed list of the Top 77 French Wholesalers and Top 36 Spanish ones.
2) French Wholesalers: 98 emails + 17 calls. Spanish Wholesalers: 67 emails + 5 calls + 1 meeting.
3) Provided 14 reports on Traditional Grocery Retailers + 21 reports on FMCG companies.
Testimonials from Team:
“I loved working on this project. Whilst it proved difficult to reach the target the clients provided: achieve contact with wholesalers who might be interested in the product, we still learnt a lot about the industry, market and presenting market research of value to the client's brief. Our team always had such a positive attitude and it was super fun being in it together. On this project in particular, and JET in general, there is always the most warm and understanding vibe, making any project fun and enjoyable!”
Testimonials from Client:
“Keep up the good work!”
The client answered our Customer Satisfaction Survey “extremely satisfied” with all the deliverables and the team.