CNBC Make It - Here's how Too Good To Go is trying to eliminate food waste on a global scale
Too Good To Go is an app that connects consumers with restaurants and retailers offering surplus food at the end of the day. Users can reserve surprise bags of food through the app, which are typically offered at a 70% discount. The app has gained significant traction, with 100 million users and 170,000 retailers across North America, Europe, and Australia. Businesses like Fun Creative, a Jamaican restaurant in New York City, have partnered with Too Good To Go to reduce food waste and recover costs from unsold food. The app appeals to consumers looking for affordable food options and those interested in reducing food waste. In 2023, Too Good To Go sold over 102 million surprise bags, marking a 29% increase from the previous year, highlighting its growing popularity and impact.
Key Points:
- Too Good To Go connects consumers with surplus food from restaurants and retailers at a 70% discount.
- The app has 100 million users and 170,000 retailers globally, including in North America, Europe, and Australia.
- Businesses decide their pricing for surprise bags, helping reduce food waste and recover costs.
- Consumers are attracted by low prices and the opportunity to prevent food waste.
- In 2023, the app sold 102 million surprise bags, a 29% increase from the previous year.
Details:
1. 🌟 Discovering Surprise Bags: How They Work and Who Uses Them
- Consumers can reserve surplus food through the Too Good To Go app from participating restaurants or retailers, typically receiving a 70% discount.
- The app has successfully attracted a large user base, with 100 million users and 170,000 retailers across North America and Europe.
- Users reserve surprise bags through the app, which contain surplus food items at significant discounts, helping reduce food waste.
- Participating retailers benefit from reduced waste and increased foot traffic, while consumers enjoy discovering new products at a low cost.
- A typical surprise bag might include a variety of fresh produce, baked goods, or prepared meals, depending on the retailer.
- Challenges include variability in bag contents and potential for unsold items, requiring flexibility from consumers and retailers.
2. 🍽️ Transforming Businesses: A Partner's Perspective
- A small Jamaican restaurant in New York City partnered with Too Good To Go to address its food waste issues.
- Before the partnership, the restaurant was losing several hundred dollars per day due to food waste.
- Through the partnership, the restaurant was able to reduce its food waste significantly, converting potential losses into revenue.
- This strategic move not only improved the restaurant's financial health but also contributed to environmental sustainability.
3. 💸 Attracting Customers: Pricing and Variety
3.1. Pricing Strategies for Customer Attraction
3.2. Variety and Business Offerings
4. 📈 Impressive Growth: Sales and Economic Impact
- Too Good To Go sold over 102 million surprise bags in 2023, marking a 29% increase from the previous year.
- This growth not only reflects a significant boost in sales but also contributes positively to reducing food waste and benefiting local economies.
- The increased sales have led to broader market adoption and greater consumer awareness regarding food sustainability.
- Local businesses partnering with Too Good To Go experienced enhanced customer engagement and increased revenue, highlighting the program's economic benefits.
- The initiative supports environmental goals by effectively diverting food waste and engaging communities in sustainable practices.