THE PROBLEM: Customers expect instant and on demand commerce and businesses don’t yet have an affordable and efficient solution meet such expectations
In the case of mobile ordering for in-store pickup, studies in the UK show that businesses lose 21 million consumers a year due to queues which amounts to a billion euros in revenue loss (Source). In the case of online food delivery, third-party aggregators are gaining the control of the consumer experience, leaving smaller businesses and chains out of the loop. This results in a sizeable cut in these businesses’ margins and hurts their brand or ability to retain their own customers. Up until recently solutions like these were only accessible via third parties who cannibalise businesses’ margin or through very expensive custom developed solutions (ranging from hundreds of thousands to millions of euros) that are out of reach for most the industry.
THE BUSINESS OPPORTUNITY: Everything is on-demand. The digital opportunity for the food industry
Both the Food delivery and Pickup markets have high potential and room to grow with mobile pre-order expected to grow from $10 to $38 billion in 2020 and food delivery from $11 to $210 billion in the same period. The same growth is expected in the groceries industry. More and more businesses will want to meet their customers’ needs in term of immediacy and efficiency. But how can it be done at an affordable cost and still being profitable?
GAME CHANGING SOLUTION: Introducing into the market a unique ecosystem providing HORECA businesses their own ordering and payments solution, reducing operational costs and increasing ROI
We are enabling faster commerce in HORECA: Hotels, restaurants and catering. PRIOR’s on-demand platform enables businesses to offer their own branded web and mobile ordering and payments solutions. Apart from reducing operational cost, increasing sales and thus boosting profits, businesses can sell directly to their customers and grow their loyalty. Through our technology, their end customers can order for in-store pickup and/or delivery directly from these businesses while also saving time and enjoying a value-added service. PRIOR’s B2B product helps these companies with key factors of their business: saving in operational costs and staff, avoiding churn due to long queues and disintermediation resulting from selling through third-party aggregators. With more than 3.500 transactions during 2016 and sales of 13.000€, we expect to reach 7 million transactions by 2022.
