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Welcome to Licious Land: Secrets of Guilt-Free Meat Feasts
How Two IIT Grads Hacked the Meat Market (and Your Fridge)
Shailja
January 29, 2024
Let's see how the trailblazing online meat and seafood brand, Licious works and unravels the secrets behind their remarkable marketing strategy. This is StartupStoic, a newsletter that assists you in learning better and strategizing your startup ideas. Feel free to share it with others.
Licious was founded in 2015 by Vivek Gupta and Abhay Hanjura, two IIT Delhi graduates, in Bengaluru. The idea for Licious came from Gupta's own experience of not being able to find fresh, high-quality meat in Bengaluru. He and Hanjura saw a gap in the market for a company that could deliver fresh, butchered meat to customers' doorsteps.
Gupta and Hanjura started Licious with an initial investment of Rs 1 crore. They initially focused on sourcing meat from local farmers and butchering it themselves. They also developed a proprietary process for chilling and packaging the meat to ensure that it stayed fresh for up to 72 hours.
Licious quickly gained traction with customers in Bengaluru, and the company soon expanded to other cities in India. In 2018, Licious raised Rs 100 crore in a Series A funding round from Tiger Global Management. The company has since raised a total of over Rs 1,200 crore in funding.
Licious is now India's largest online meat delivery company. The company delivers fresh, butchered meat, seafood, and eggs to customers in over 20 cities across India. Licious has also launched its line of meat products, including sausages, kebabs, and marinades.
The birth of Licious is a story of two IIT graduates who saw a gap in the market and had the vision and execution skills to fill it. Licious has revolutionized the way people buy meat in India, and the company is now well-positioned to continue to grow in the years to come.
The Winning Recipe:
1. Farm-to-Fork Fab: Owning the Supply Chain:
Bypassing middlemen: Licious controls the entire journey, from sourcing directly from ethical farms to cold-chain delivery. This ensures consistent quality, freshness, and traceability – a rarity in the meat marketplace.
Tech-powered transparency: Customers get a behind-the-curtain glimpse at the farm, building trust and loyalty.
2. Convenience Craving:
Speed of delivery: Licious delivers fresh meat within 24 hours, satisfying immediate cravings and beating out local butchers.
Variety is the spice of life: From ready-to-cook marinades to portioned cuts, Licious offers a curated selection that caters to busy, demanding lives.
3. Beyond the Butcher Shop:
Building a brand, not just selling meat: Licious understands that quality alone isn't enough. They've built a vibrant brand personality, engaging the audience through innovative content, collaborations, and loyalty programs.
Data-driven decisions: Analytics fuel everything, from targeted marketing to optimizing their supply chain.
What Licious did differently:
Focused on a niche market: While others chased groceries, Licious tackled the fragmented and unorganized meat industry.
Prioritized technology: Automation streamlined processes, from procurement to delivery, minimizing wastage and ensuring efficiency.
Embraced customer-centricity: Convenience, transparency, and quality became their north star, building a loyal user base.
DTC Leaders' Takeaway:
Own Your Story: Control the Supply Chain and Leverage Technology for Transparency and Convenience- Successful DTC leaders recognize the importance of owning their narratives. By having control over the entire supply chain, from manufacturing to distribution, companies can ensure quality and consistency. Leveraging cutting-edge technology is crucial for providing unparalleled transparency and convenience to consumers. Embrace tools that enhance visibility, streamline operations, and offer real-time updates, empowering customers and building trust.
Don't Be Afraid to Niche Down: Find Your Sweet Spot and Become the Undisputed King of That Domain- In the vast sea of consumer choices, niche specialization can be a powerful strategy. DTC leaders should identify and dominate a specific market segment. By focusing on a particular product category, demographic, or unique selling proposition, companies can position themselves as the go-to authority in that niche. This not only fosters brand loyalty but also allows for targeted marketing efforts, maximizing impact and engagement within the chosen domain.
Data is Your Secret Sauce: Use Insights to Optimize Every Step of Your Journey, from Acquisition to Retention- Data is the lifeblood of DTC success. Harnessing the power of analytics and customer insights allows leaders to make informed decisions at every stage of the business journey. From customer acquisition to retention strategies, data-driven approaches enable companies to understand consumer behaviour, preferences, and trends. Implement robust analytics tools, employ A/B testing, and continually refine strategies based on data feedback to stay agile and responsive to market dynamics.
The brand is More Than a Logo: Build a Personality that Resonates with Your Audience and Fosters Loyalty- A brand is not just a logo; it is a living, breathing entity with a personality. DTC leaders should focus on building a brand that resonates with their target audience. Define core values, tell a compelling story, and create a brand personality that aligns with the aspirations and lifestyles of consumers. Foster a sense of community and engagement through social media, content marketing, and customer interactions. A strong brand not only attracts customers but also cultivates lasting loyalty and advocacy.
Licious's journey is a testament to the power of innovation and customer-centricity. By taking a fresh approach to an old industry, they carved their niche and redefined the game. So, go forth, D2C leaders, and let your brand be the next to leave its mark!
