Money
continues to flow into the Grocerant niche filled with Ready-2-Eat and
Heat-N-Eat fresh prepared food. Regular
readers are familiar with RedMart, the online grocery company in Singapore
that’s raised
over $50 million to date, is expanding as it launched an
on-demand platform this week.
This
new On-Demand service is named RedMart Relay will empower customers to buy “tens of
thousands of products” from a range of as-yet-undisclosed partners that cover
hot food, clothes, electronics and more. RedMart CEO Roger Egan told
TechCrunch that products will arrive with customers within an hour of their
order being completed, although hot meals will be dispatched faster for obvious
reasons.
RedMart
has been in business for over four years, during which time it has stayed in
Singapore but the Ready-2-Eat and Heat-N-Eat space is dynamic not static and
RedMart must be as well. This year new rivals have emerged including Honestbee landed $15
million
and is in Hong Kong and Singapore, while HappyFresh
raised $12 million
and is in Malaysia, Indonesia and Thailand, but Egan believes that RedMart has
rightly taken time to develop a more sustainable and efficient model.
RedMart
Relay is the company’s second new launch of the year, following the
introduction of a
marketplace
that allows retailers to sell online using RedMart’s existing customer
base and logistics network. Omni-Channel retail with a focus on Grocerant niche
Ready-2-Eat and Heat-N-Eat fresh food drives sales.
RedMart
understands that success does leave clues.
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