Ralf Wenzel is the Founder & CEO @ JOKR, a global platform for instant retail delivery at a hyper-local scale serving both the US and LATAM. Ralf has raised over $260M for the company, most recently valuing it at $1.2BN. Prior to JOKR, Ralf spent 7 years as the Founder & CEO @ foodpanda, as well as, enjoying roles as Chief Strategy Officer @ Delivery Hero, Interim Chief Product and Experience Officer @ WeWork and even moving to the other side of the table as a Managing Partner with Softbank.
In Today’s Episode with Ralf Wenzel You Will Learn:
1.) What is the unit economic breakdown for quick commerce business models? What levers can be used to improve it over time?
2.) Comparing the US to LATAM:
- What is the AOV (average order value) in the US vs LATAM?
- What is the order frequency in the US vs LATAM?
- How does labour cost vary when comparing LATAM to the US?
- How does real estate cost for fulfilment centres differ when comparing LATAM to the US?
- How do product margins on a per product basis differ when comparing US to LATAM?
3.) New Market Growth and Maturation:
- What is the payback period for new markets? How has this changed over time?
- How does the payback period reduce with every new market being opened?
- What % of AOV is spent on marketing when a new market is opened? How does this marketing spend change over time?
- In mature markets, how much new customer acquisition is organic vs paid?
- What is the average weekly growth rate in new vs mature markets?
4.) Business Model Expansions:
- How does Ralf and JOKR approach the potential for private label goods?
- How does private label change the margin structure of the goods?
- What have been their lessons from starting their first private label goods?
- How does Ralf approach the ability to integrate advertising and paid search?
- What is needed for paid search and advertising to be a meaningful part of the business?