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Food Tech Execs

January 31, 2020

The Age of The Personalized Food Passport is Coming, Says Spoonshot CEO

It seems impossible for giant CPG companies working with thousands of retailers to make individualized products. But according to Kishan Vasani, CEO of Spoonshot, a startup that predicts emerging food trends, there’s still a way for these giant companies to mimic the effects of personalization in their wares.

How, exactly? To get the whole story you’ll have to come to Customize, our Feb 27th in NYC all about breaking down the impact of personalization on the food system. We did, however, ask Vasani a few questions recently about how he defines personalization, its wide-reaching effect, and how big CPG companies can capitalize off of individualization. He also explains his vision for the future in which we’ll all have a “food passport” which restaurants can use to tailor our meals.

Check out the Q&A below then grab your tickets to Customize here (pstt — use code SPOON15 to get 15 percent off).

Tell us a little bit about what Spoonshot does. 
Spoonshot is on a mission to power genuine agile innovation to the food and beverage industry. Our intelligence details emerging market and consumer needs by transforming long-tail, open information from diverse, authentic data sources. We connect these disparate data sets via our proprietary food science-infused algorithms to deliver personalized insights, predict trends, and identify innovation opportunities. 

How can large CPG companies, which have to work on a massive scale, create products that are personalized to consumers?
Firstly, it’s important to clarify what personalization really means (to me). To some it could mean customization (e.g., add blue cheese to a burger). To others, it might be about packaging that has your name on it. I firmly believe that personalization is about implicitly understanding an individual’s needs and desires. 

Today it’s not economically possible to create unique products for individual preferences, but CPG companies can create the same effect by having a deep understanding of evolving and emerging trends and innovating exactly against those growth opportunities. Of course, greater agility and efficiency is required at every stage of the product development cycle by employing the relevant technologies. 

Ask most CPG executives what the next big food trend is going to be and they will probably name a trend that is well established like plant-based [protein] or CBD. But ask them what’s [after that] and they won’t be so sure. There needs to be significantly more efforts to anticipate consumer needs, and perhaps the largest brands have the economic power to even shape consumer tastes. Too often they fail to exercise this — in contrast to the tech industry, which has been much more successful in pushing innovation upon consumers. iPhone, anyone? 

What’s the biggest challenge facing food personalization, specifically within the CPG space?
The biggest challenge to personalization within the CPG space is the way in which data has historically been used and continues to be or not be employed:

  • Over-reliance on (yesterday’s) sales data for decisions related to tomorrow’s innovation. 
  • The lack of use of large, external and diverse data sets. Instagram and Pinterest are not the answer; at best they are just a small part of it.
  • The internal data silos, especially in larger businesses who are potentially sitting on data gold and don’t even know it.
  • The slow adoption of new data and technology frameworks, particularly by R&D professionals.

How do you think that personalization will play into consumer dining and shopping habits over the next five years?
Personalization will play a central role across the consumer food landscape over the coming decade. 

Take personalized recommendations as one use case. Consumers have been used to personalized digital experiences for many years now thanks to leading tech companies like Amazon, Netflix, and Pandora. Yet somehow online food ordering lagged behind. We launched a personalized recommendation engine for online food platforms back in early 2017, but the market wasn’t quite ready. Fast forward two years and McDonald’s acquires Dynamic Yield to do exactly this, and today, the demand for personalized recommendations has never been higher. But this is just one way in which personalization will dominate the industry. 

We believe that there will be a “food passport” for every consumer so no matter where you eat, the business producing your food will know everything about your taste preferences and will have the ability to tailor your meal accordingly. There would be some interesting applications in terms of having a digital record of an individual’s consumption, and how health insurance providers might price their plans based upon this data. 

Since healthy eating is an established trend, consumers will increasingly demand personalized nutrition in restaurants as well, where science and technology can dictate what food is right for us — not only for weight management but, more importantly, to manage our overall health and wellness. 

Another innovation in personalization could be the emergence of (mobile) handheld scanners that help consumers identify allergens, nutrients, and ingredients in their food and provide them with a breakdown of the amounts of sugar, acidity levels and vitamins present in dishes,  as well as highlight potential allergens warnings.

Join us in NYC on February 27th to hear Vasani speak more about how CPG companies are leveraging personalization (and lots more). Use code SPOON15 to get 15% off your tickets now.


July 22, 2019

Updated: Food Delivery Service Just Eat Lays Off Staff Amid Redundancies

UK third-party food delivery service Just Eat has made a round of layoffs in the UK and Ireland following the recent merging of its customer and restaurant operations teams. TechCrunch reports that while it’s unclear how many individuals are affected, it could be “as many as 100 staff overall.”

At the end of May, Just Eat united its separate customer and restaurant support divisions under a single operation, creating numerous redundancies in the process. This round of layoffs, according to TC, was announced internally on Friday and is meant to do away with those redundancies as part of a larger corporate reorganization.

A Just Eat spokesperson declined to comment to TechCrunch on the actual number but did confirm the reorganization, noting that, “At our full year results we talked about organising and energising the business to execute our strategy at pace.”

The news comes right after Just Eat, who is based in London but operates throughout the UK and in several other countries, acquired corporate catering marketplace City Pantry. Previously, Just Eat had acquired Flyt and Practi, both restaurant-tech-focused companies.

Meanwhile, Just Eat has also faced backlash from investors this year as the company’s pace of growth has slowed. In February, activist investor Cat Rock Capital Management LP, who owns a 2 percent share in Just Eat, urged the company to “merge with a rival online meal-delivery company,” in the wake of Just Eat’s inability to find a permanent CEO after Peter Plumb stepped down and was replaced by interim CEO Peter Duffy. While Just Eat has yet to find that permanent CEO, TechCrunch also reported that Graham Corfield, previously Just Eat’s UK Managing Director, has been appointed to the role chief operating officer.

And despite Just Eat’s recent acquisitions, which suggest growth into new areas, the company has been under some heavy pressure in 2019 not just from investors but competitors as well. Amazon’s recent (and somewhat controversial) investment in Deliveroo further intensifies that competition, particularly as Deliveroo tries to take over more and more of the food delivery stack by offering its restaurants everything from cheaper ingredients to wifi services.

Just Eat’s previous aforementioned acquisitions have been focused mainly on technology that powers the delivery process. Whether that’s enough to give the company a fighting chance against Deliveroo’s operation remains to be seen.

Update: An earlier version of this post incorrectly stated that Graham Corfield had been appointed to the role of chief executive officer.

June 13, 2019

Post PieShell, Cheryl (Clements) Durkee Joins ItsaCheckmate

Cheryl (Clements) Durkee is someone we pay attention to the food tech world. After PieShell, the food crowdfunding platform she founded shut down this year, we wondered where she would head to next. Today we got the answer as ItsaCheckmate announced they’ve brought Durkee on board as its new Vice President of Brand Identity.

ItsaCheckmate provides software which integrates orders from multiple third-party delivery services like Uber Eats, DoorDash and Postmates directly into a restaurants POS. This, in turn makes it easier for restaurant owners and staff to consolidate and input orders from various sources. ItsaCheckmate made news last week when it announced that it had partnered with AllSet to expand beyond delivery orders and into pickup transactions.

Earlier this spring, Durkee’s startup, PieShell was unable to obtain more funding and shut down in March. In addition to providing a means for entrepreneurs to fund their food tech ambitions, PieShell was also instrumental in raising funds for those impacted when PilotWorks abruptly closed its doors last year.

Durkee has been a speaker at our Smart Kitchen Summit events, and at the time of PieShell’s closing, Spoon founder Mike Wolf wrote:

I’ve personally gotten to know Clements myself (she references me in the letter) and, I have to admit, it seems like she’s been a fixture in the world of food innovation forever. That’s probably because Clements is one of those startup founders that seems born for the job, a natural that others (myself included) look to for inspiration.

According to the press announcement, Durkee will lead the company’s branding, public relations and communications strategies.

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