The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: The Memo: Never Before Revealed Metrics; A Full Breakdown of Unit Economics Behind JOKR, How Does Emerging Markets Compare to Developed Economies & The Biggest Misnomers on Quick Commerce with Ralf Wenzel, Founder & CEO @ JOKR
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Jan 12, 2022 Ralf Wenzel, Founder and CEO of JOKR, discusses revolutionary unit economics in the quick commerce sector. He compares consumer behavior, average order values, and labor costs between the US and LATAM, revealing intriguing insights into market dynamics. Ralf also shares strategies for optimizing fulfillment centers and managing costs to enhance profitability. Additionally, he delves into the strategic allocation of marketing budgets and the importance of supply chain efficiency for sustainable growth in retail.
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Replacing Supermarkets
- JOKR aims to replace offline supermarkets by catering to spontaneous grocery shopping.
- They observe customers shifting from monthly to weekly shopping, spending around $50 per week.
15-Minute Delivery Advantage
- JOKR's 15-minute delivery model improves customer retention and order frequency.
- Sticking to this timeframe also maximizes rider utilization and profitability.
Regional Margin Differences
- Product margins for fresh produce are higher in Latin America than in the US due to lower agricultural costs.
- The US offers better margins on local brands due to a fragmented market.