Digital Disruption Proposal: FridgePilot
- 1. Less waste, more taste The Disrupticons
- 2. Fridge Pilot will enable today’s consumers to eat better, save money and save time. Executive Summary Fridge Pilot’s secret ingredient is that it communicates with RFID sensors on food packaging, silently and wirelessly updating your app with the information you need to have more taste and less waste.
- 3. Product Functions / Technology FridgePilot is a SMART Phone app connected to a widget manufactured under license by technology partners. It sits in your fridge, gathering information about what you have in there (how much is left, when it goes off, and cooking ideas about how to use those ingredients) Through your smartphone, it prompts a scan of your fridge inventory, allowing you to virtually 'peek' into your fridge wherever you are, in real time It utilises cutting edge RFID technology to give the consumer unique detailed information about the product, such as the expiry date Radio-frequency identification (RFID) uses electromagnetic fields to automatically identify and track tags attached to objects. The tags contain electronically stored information, and the technology is increasingly being implemented into food packaging
- 4. Market Opportunity 66% of people own a smartphone⁶ 44% of Britons visit the supermarket more than once a week⁵ Avg cost per household £472 p.a.⁴ 42% UK food waste coming from households³ Global smart appliances market 2015 (predicted)⁷ $9,773M 1. http://lifehacker.com/top-10-mistakes-we-make-when-grocery-shopping-and- how-1700039890 2. http://techcrunch.com/2015/07/11/the-billion-dollar-food-delivery-wars/ 3. Eurostat, European Union Committee 4. http://www.lovefoodhatewaste.com/content/cost-food-waste-uk-every-year 5. http://www.telegraph.co.uk/finance/personalfinance/household- bills/9902384/Why-the-weekly-supermarket-trip-is-dying-out.html 6. http://media.ofcom.org.uk/news/2015/cmr-uk-2015/ 7. http://www.appliancedesign.com/articles/94975-the-kitchen-of-tomorrow-smart- appliances-are-on-the-rise 8. http://www.rfidjournal.com/articles/view?9589 UK Grocery shopping and meal planning are chores¹ Food-related apps booming² 2019 $26,149M Application of RFID Tags booming⁸
- 5. Customer Segments Online retailers: Ocado, Tesco, Sainsburys etc. Electronics manufacturers (Samsung, Philips etc) They manufacture the widget but outsource the software platform Potential partnerships Lifestyle managements apps and diet programmes e.g. My Fitness Pal, Weightwatchers ‘Digital Moms’ ● HIghly communicative brand ambassadors ● Interested in trends and shopping ● Environmentally conscious ● 75% create content online at least monthly ● 1 in 3 tell people about brands they love Millennials ● 25-35 years, Busy professionals ● Online & offline worlds intertwined ● Tech savvy - 90% go online daily ● Mobile is their ‘go-to’ device Key influencers: ● Early adopters / techies ● Key opinion leaders / Brand advocates ● Environmental Organisations Consumers / End Users Trade / Partnerships
- 6. Download Available to download free on both iOS and Android devices. Ability to create account with email or with existing social media accounts (Facebook and Twitter). Simple onboarding process which asks 5 questions. Setup On setup mobile app provides step-by-step instructions for syncing with widget - troubleshooting and support available via website. Fridge Scanning Once syncing process is completed FridgePilot performs an initial scan of the fridge and gives the user their first report. The user is then able to set their preferences for frequency of notifications, dietary preferences, goals etc. Alert When an alert is triggered the FridgePilot sends a push notification to the user’s smartphone, including e-commerce and geo-located retailers. Product Experience Meal Plan Support FridgePilot provides suggestions for recipes based on the contents of the fridge, taking into account factors such as date of expiry and ingredient combinations. FridgePilot will also suggest purchase of additional products/ingredients to compliment meal suggestions.
- 7. Competitive Environment SMART Fridges Samsung Family Hub Refrigerator £3,500 RRP ● Cameras capture images ● Online shopping list generated ● Interaction with e-commerce ● Recipe management Non-SMART Applications These inexpensive apps ease management of food stocks some with scanners and list generators. ● Fresh Box: upload photos to virtual fridge ● Fridge Pal: as above with barcode scanner ● Best Before: barcode scanner, calculates average lifespan IoT Enabled Devices which interact with smartphones using cameras & sensors ● Samsung Smart Things starter kit £199 ● Hive (Heating & water control) £249.99 ● SWANN - Home security £299 FRIDGEPILOT The only truly IoT device for food stock management Utilising RFID scanners, this smartphone app: ● Automatically detects and logs details of items placed in the fridge ● No need to scan, photo or note items ● Online shopping list generated ● Interaction with e-commerce ● Recipe management ● Lifestyle & diet control app interaction e.g. WW, My Fitness Pal etc
- 8. Unique Selling Proposition Open Source platform, can be updated easily and be installed to any brand of fridge or lifestyle app, Weight Watchers and the like. Fridge Pilot enables individuals to manage their food more effectively from sourcing, shopping, compiling shopping lists and keeping track of best before dates. Reduces waste, saves money. Average savings £472 per year excluding travel costs and bag charges. Utilises cutting edge RFID technology which is being installed into food packaging to give unique detailed information about the product. This would also ensure future proofing. Easily integrates into the consumer's grocery buying cycle, no need to manually enter product information.
- 9. Promotional Strategy Market-test the application with key opinion leaders in consumer electronic tech Soft launch of Fridge Pilot on tech sites and forums, to peek interest from early adopters Presence at CES and consumer electronics trade shows Millennials: Facebook and Twitter campaign, SEO, predictive input, autocomplete Online reviews, ‘Free App’ to assist App Store rankings Digital Moms: Facebook and Twitter: Panel to trial Fridge Pilot and keep food diary, encourage sharing and call to action, SEO and Google Ads drawing online traffic, free trial of app, online forums Mumsnet etc. Aim to achieve endorsements from Environment Agency, Carbon Trust, Soil Association and other bodies influential as environment watchdogs, to be used in communications. UK Launch Strategy ● Advertise on electrical goods industry trade magazines, such as Get Connected and send PR ● Branded content and retarget anyone reading the article with branded display advertising to improve CTR ● Join the Association of Manufacturers of Domestic Appliances (Beko, Indecit and Samsung all members) to develop relationships ● Enter Fridge Pilot into the Innovative Electrical Retail Awards excellent PR/networking opportunity
- 10. Content and Social Strategy Videos Create awareness and encourage engagement, by providing our target markets with FridgePilot recipe videos, using the hashtag: #LessWasteMoreTaste. Competitions Challenge our audiences to share fridge leftovers recipes (using our hashtag). The most popular would win a year’s subscription of FridgePilot. Infographics Educate our audiences on food wastage, by creating relatable infographics, accompanied by the hashtag: #LessWasteMoreTaste. Guides & Reports Produce and sponsor guides and trend reports on food wastage, to share with our B2B markets. Create Advocates Endorse popular lifestyle bloggers to promote FridgePilot on their platforms and encourage converted customers to provide testimonials.
- 11. Mobile Optimisation Search A search bar and expandable menu will be at the top of every page on our site and app, with relevant suggested options for ease of use. Access Customers can access their personal FridgePilot info with a click (or press) of a button. Personal details will also be saved so there’ll be no lengthy fill out forms. Testing & Analysing We’ll regularly test the app and site to ensure the UX is always a pleasurable one. We’ll also include tracking so we can monitor customer behaviour and marketing activities. Engagement Customers will have the option to receive push notifications e.g. “Your avocado goes off tomorrow, would you like to see some avocado recipes?” Homepage Our homepage will be simple and easy to navigate, with clear call to action
- 12. Sales & Distribution Online Offline Online Marketplaces Amazon, eBay etc. Official branded online stores will be set up on these platforms (where applicable). Also utilise ‘Fulfillment by Amazon’ to boost appeal. Daily Deals Websites Groupon, Wowcher etc. These provide opportunities to reach mass market in a short space of time. App & Appstore Customers can order the Fridgepilot widget via the app which is downloaded free on iOS and Android. The app without the widget is still able to give some basic tips on improving food wastage/habits, but prompts purchase of widget. Electronics Wholesalers These companies will promote the product to their clientele, product will also be featured in trade directories etc. allowing potential for large orders Sales/Business Development Team This team will seek sales opportunities on a B2B basis targeting large retailers (e.g. Currys, Sainsbury’s), trade customers (independent electronics retailers and hospitality industry)
- 13. Scalability / Partners, Resources Scalability of distribution / new uses Commercial uses, e.g. restaurants, offices, hospitals New uses, e.g. tracking stocks of household products, or medicines. New geographies Scalability in production Open-source technology Partners Fridge manufacturers E-retailers Food/environmental research bodies Resources Technology People Potential threats ● Smart fridges get cheaper ● RFID doesn’t roll out as expected/too expensive ● Aggressive competitive behaviour ● Glitches/hacks Scalability in production Scalability of distribution / new uses Partners ResourcesPotential threats
- 14. Revenue Stream & Pricing Freemium membership ● FridgePilot app download is free ● Optional upgrade to a Premium: for £1.99/month users get bespoke nutritional advice and a weekly meal plan Licensing Charging electronics manufacturers for exclusive use of the open source platform Affiliate links ● For grocery products: using a sliding scale model, brands that pay more appear higher on the suggested products lists ● For healthy eating and weightloss organisations e.g. Slimming World, that allow customers to receive bespoke meal plans and recipes PPC advertising (e.g. Google AdWords) + Selling User data to marketing companies Widget price: £99
- 15. Business Model PROBLEM • 7 million tonnes of food wasted every year in UK • Frequent unplanned grocery shops every week costing over £472 p.a. • Difficult to manage the contents of your fridge SOLUTION • Real time fridge inventory • Customizable alerts on items stock levels • Smart shopping lists • Auto-updated online shopping basket • Recipe suggestions KEY METRICS • Sign-ups • Conversion following free trial • Total users UNIQUE VALUE PROPOSITION Fridge Pilot turns an ordinary fridge into a smart fridge at a fraction of the price UNFAIR ADVANTAGE • RFID labelling • Patent protected device and app • Competitive price • Open source platform CHANNELS • Social media • Fridge retailer • App store • Display and search network ads • Online marketplaces • Daily Deals sites CUSTOMER SEGMENTS • Millennials • Digital moms • Environmental organisations COST STRUCTURE • Overheads • Server hosting and data warehousing • Marketing • Developers • Legal • Staff (Circa 20 in first 2 years) REVENUE STREAMS • Subscriptions to premium service • Licensing • Advertising • 5% commission from online retail linked to FridgePilot EXISTING ALTERNATIVE • Multiple shopping trips, notes, reminders • Smart fridges, prohibitive price tag (£3000+) HIGH LEVEL CONCEPT • FridgePilot is to your kitchen what Hive is for your thermostat • Facetime your fridge! EARLY ADOPTERS • Tech community • Environmental evangelists