The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: The Rise of Quick Commerce and Why CPGs ARe Misaligned Being Powered By Ad Spend, The 5 Core Components Consumers Care About When Ordering Today & Why Amazon and Alibaba Will Not Be The Big Players in 10 Years with Ralf Wenzel, Founder & CEO @ JOKR

Sep 27, 2021

Ralf Wenzel, Founder and CEO of JOKR, shares his journey from founding foodpanda to leading a global instant retail delivery platform. He discusses the misalignment in consumer packaged goods and advertising, predicting a shift away from giants like Amazon and Alibaba. Ralf delves into innovative fulfillment strategies, emphasizing the importance of treating drivers as full-time employees for better retention. He also highlights consumer expectations for personalization and sustainability, painting an optimistic future for quick commerce.

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INSIGHT

Evolving Consumer Behavior

Consumer behavior is shifting towards personalization, instant delivery, and sustainability.
This creates a need for new e-commerce platforms that cater to these evolving demands.

INSIGHT

CPG Advertising vs. Consumer Needs

Existing e-commerce platforms primarily operate as advertising businesses, prioritizing ad revenue over consumer needs.
JOKR aims to prioritize genuine consumer demand by democratizing the supply chain.

INSIGHT

Supply Chain Inefficiencies

Traditional retail suffers from complex, inefficient supply chains and relies on middlemen, reducing profit margins.
JOKR vertically integrates its supply chain, eliminating middlemen and increasing potential profits.

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Ralf Wenzel is the Founder & CEO @ JOKR, a global platform for instant retail delivery at a hyper-local scale. To date, Ralf has raised over $170M for the company from the likes of GGV Capital, Balderton, Softbank and Kaszek, just to name a few. Prior to JOKR, Ralf spent close to 7 years as the Founder & CEO @ foodpanda as well as enjoying roles as Chief Strategy Officer @ Delivery Hero, Interim Chief Product and Experience Officer @ WeWork and even moving to the other side of the table as a Managing Partner with Softbank.

In Today’s Episode with Ralf Wenzel You Will Learn:

1.) How Ralf made his way into the world of startups and came to found foodpanda? What were his biggest takeaways from foodpanda that have impacted how he thinks about scaling JOKR today?

2.) Fulfillment Centres: What are the selection criteria when deciding what is the right location for a fulfillment center? How does real estate cost differ when comparing LATAM to the US? How does Ralf think about the balance between consumer choice and SKU minimization? In what way does Ralf believe they have a moat due to their catalog management system?

3.) The Driver: Why is JOKR different to every other provider in the way they employ their riders? Does it not severely impact their margins by providing equal benefits across their entire rider workforce? How many drops per hour is a good level of driver efficiency? What have been Ralf's biggest lessons when it comes to driver retention?

4.) The Consumer: How did JOKR acquire their first consumers on the demand side? What marketing strategies worked? What did not work? Is Ralf concerned by the immense amount of money invested in the space driving customer acquisition prices way higher? How has Ralf seen CACs change over time in mature markets?

5.) Expansion Opportunities: How does Ralf feel about incorporating own brand products, produced by JOKR over time? How does this change the margin profile of the business? How does Ralf feel about paid search as a core part of their business? Will CPGs be able to pay to be ranked higher in JOKR?