Team 1A
Overview
Our team is working on HarvestMingle, a nationwide grocery store chain with a deep focus on locally sourced food and products from local farmers and artisans. HarvestMingle’s true innovation is its cutting-edge online grocery shopping platform, designed to deliver fresh and quality products right to your doorstep. Our focus for this project is to tackle the decrease in users for this online platform following the rise of third-party delivery platforms, like DashPass and InstaCart.
Market Opportunity
The market opportunity we want to pursue is subscription-based cuisine-specific meal kits. Similar products are on the market, yet the niche of cultural foods has not been thoroughly explored.
TAM, SAM, SOM
Our SOM is young Bay Area professionals and students aged 20-35 from culturally diverse backgrounds. This is a reachable audience, as we are all young Bay Area individuals in this demographic. According to the 2010 Bay Area Census [1], around 58.6% of Bay Area residents are Hispanic, Latino, Asian, African American, or Pacific Islander. We want to target young people of these communities who would like to cook some of their foods even if they do not have access to cultural grocery stores or to easy-to-follow recipes.
Our SAM is expanding to other multicultural areas in the country with other young professionals and students with culturally diverse backgrounds, such as New York City.
Our TAM is a nation-wide spread with different regional ‘hubs’ that supply locally-sourced items. We cater to a variety of age demographics, including young professionals who want sustainably-sourced food and don’t have the time or knowledge on how to cook multicultural recipes, to busy families that want to teach their children how to teach different cultural foods, to older generations who don’t necessarily have easy access to grocery store and shopping.
Appendix
[1] http://www.bayareacensus.ca.gov/bayarea.htm
