Success Case Study: Licious Meat and Seafood
Licious, a start-up that primarily sells meat and seafood products, has witnessed a 300% rise in revenues, and six-fold growth in daily orders, in the four years since its inception. In 2015, Licious, a start-up based in Bengaluru, India, commenced online sales of products such as fresh and processed meat and fish, meat-based and fish-based pickles, soups, and spreads. The company aimed to develop a branded fresh chilled meat, fish, and seafood product in the Indian market, where these products are largely commoditized and sold through open markets and traditional butchers and fishmongers.
Reasons to buy
- Licious capitalized on the rising consumption of meat, fish, and seafood in India, despite the country being known for its very large base of vegetarians.
- Adopting a farm-to-fork strategy, Licious maintains tight control over quality in its integrated supply chain, which appeals to a growing number of consumers who are willing to pay more for better-quality food and drink.
- The convenience provided by Licious’ online retail model suits time-poor younger urban consumers, who often have to contend with unpleasant experiences when shopping for meat and seafood in wet markets or traditional butchers and fishmongers.
- Food tech start-ups using product-first and customer-focused strategies backed by an advanced technological backbone can scale up their customer following faster and monetize strong consumer loyalty and word-of-mouth publicity.
- Reduce the risk of failure by learning from brands/products that have under-performed: failed innovation can severely impact profit and reputation.
- Understand the relevant consumer trends and attitudes that drive and support innovation success so you can tap into what is really impacting the industry.
- Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
- Access valuable strategic take-outs to help direct future decision-making and inform new product development.