"Never Compromise On Quality. Never" Siddhant Wangdi, Founder Of Meatigo.Com
Meatigo has customer base of 150,000 on application, with an 85 percent repeat rate in three years. In 2020, the platform clocked monthly order volumes of 40,000 to 50,000, growing over 2X from the year before.
1. Brief us about your business model like how did the idea come to start and how does it work (step by step procedure)?
The idea of Meatigo.com started when I returned from Thailand in 2016. I found that India has fewer meat options for customers with a lack of safety and hygiene. Our main principle to sustain in the market is to maintain quality and quantity for business. The meat industry is all about maintaining the right temperature to keep the meat fresh, whereas, in India, I found no such concept since 90 percent of meat is sourced from local vendors and open markets. We came up with the idea of Meatigo.com, an online meat and seafood delivery platform that delivers to deliver fresh and best products at doorsteps.
2. What are the unique key points of your company?
Meatigo.com is an on-demand meat and seafood delivery platform that promises to deliver fresh non-veg at consumers' doorsteps within 120 minutes. We ensure that our products should stand proud on all quality, variety, safety, and hygiene parameters. Meatigo's products are and have always been 100% SAFE. We operate various hygienic state-of-the-art processing, where all meats are further tested for microbial counts & quality before it is processed further at our facilities, cleaned & then packed in vacuum packed to ensure maximum safety & freshness. We source our poultry products from certified & licensed supply partners who have their network farms. Our packaging and delivery also go under various testing processes, keeping the meats under temperature control. Post that meats are transported fresh and daily to our delivery hubs. Our delivery team delivers the safe meat in temperature-controlled bags to your doorstep. Every batch of non-veg is processed, tested, checked & hygienically packed in vacuum packs, using German Technology – all of which are done with temperature control between 0-4℃ right from the farm to the time the product is delivered to your house.
3. How are you different from the existing competitors?
We have the most diverse product range in the market when it comes to variety. Apart from fresh and raw products, we carry premium processed and ready to cook food. With our strong emphasis on R&D, we experiment with new products so that we can launch interesting flavours and tastes for our consumers. Even though we are local with no external funding, our customers identify us with international standards and flavours.
Our focus is to bring a diverse range of products for customer’s in-ready to cook segment. From fresh chicken, mutton, pork, seafood products, cold cuts, sausages, combined with our ready-to-cook range of momos, burger patties, kababs, and international/domestic flavored marinades, we ensure that we serve every consumer's requirements. Our newly added segment of momos & burger-patties has received great response from consumers. We plan to continue our experiment and expand our product range to keep Meatigo.com unique in the market.
4. What is the funding status and monetization model?
We have grown though our internal accruals and spend what we earn. We never compromise on quality which is appreciated by our loyal customer base. As we expand, we will look to raise some funds in the next financial year.
5. What are the traction details ?
Meatigo began operations in 2017 out of Gurgaon, where it is headquartered, and expanded to Delhi-NCR, Mumbai, Pune, Bengaluru, Hyderabad, and Kolkata over the next three years. We have earned 1.5 lakh customers on application. We have delivery tie-ups with food aggregators like Swiggy, Zomato, and Dunzo, almost 95 percent of its orders come through its own app and website.
Meatigo has customer base of 150,000 on application, with an 85 percent repeat rate in three years. In 2020, the platform clocked monthly order volumes of 40,000 to 50,000, growing over 2X from the year before. The average order value stood at Rs 1,000-1,200. Our average order value is at least 2X of the closest competitor.
6. How do you look at expansion?
We are expanding both our reach and product portfolio. We just launched Hyderabad and Alibaug. We will be launching in Chennai in the next 2 weeks. Our expansion is demand driven as in we only go to places where consumers directly reach out to us.
As for products, we have a strong R&D team and are constantly churning our offerings to appeal to the diverse palates of our customer base.
7. What challenges are you facing in running your business?
Its been an exciting journey so far where we have learned so much. Everyday is a new challenge and a new learning.
8. What are your marketing plans?
We are an meat e-commerce company, hence, we are heavy on digital marketing. We are exploring new ways to reach our targe segments.
9. What has been the biggest learning so far?
Never compromise on quality. Never. And, always provide the customer something better than their expectation.
10. What is the market size and opportunity?
As per industry data, the current market size for meat related products is in excess of $30 billion. Less that 1% of this is organized and branded. So, there is a huge opportunity for all the new age players to cater to consistently deliver good quality products to the discerning consumers.
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