Grocery e-commerce player Zapp is banking on high margin convenience items rather than trying to lure customers with coupons, which it sees as unsustainable marketing. — AFP
To stand out amid the gaggle of startups offering Londoners their groceries in 15 minutes, Zapp is focusing on high-margin convenience items and fewer discount coupons to make the bulk of its deliveries profitable.
Backed by investors such as Atomico and Lightspeed Venture Partners, Zapp has already raised about US$100mil (RM417mil) and began operations in January. The startup says it’s on track for tens of millions of dollars in annual sales in London alone, and that two-thirds of its orders are profitable.
