Lula Delivery helps small businesses digitize their inventory and reach online shoppers: Groceryshop 2022 Innovator Profile
The Coresight Research team will attend and participate in this year’s Groceryshop conference, which will be held September 19-22, 2022 in Las Vegas, USA. Groceryshop 2022 will explore the changing grocery landscape and help businesses navigate the rapid rise of e-commerce, the latest business models and technologies, and changes in consumer behavior that are impacting the industry. .
On September 19, 2022, Deborah Weinswig, CEO and Founder of Coresight Research, will host and serve on the judging panel for Groceryshop’s 2022 “Shark Reef” startup pitch competition, which will see 12 early-career innovators compete to win the pick judges. and audience award. Looking ahead to the event, we profile the participating innovators.
This report is part of our Innovator Profile series, which focuses on emerging technologies that are disrupting traditional retail and fueling innovation across the retail value chain. We present Lula Delivery, a retail delivery platform that helps retailers digitize inventory, reach online shoppers and optimize the last mile by consolidating existing delivery services. Coresight Research has collaborated with Lula Delivery to offer insight into its capabilities and offerings.
Areas of innovation
Coresight Research ranks the 12 participating innovators across four areas of retail innovation: achievement and sustainability; marketing and marketing of products; and AI (artificial intelligence), ML (machine learning) and automation. Lula Delivery is about “fulfillment and sustainability”.
Execution (the last mile) is often one of the most complex and costly processes in the supply chain, while sustainability is gaining increasing stakeholder attention. Technology innovators focused on these areas can help brands and retailers improve supply chain efficiency, transparency and sustainability, as well as help them reduce costs.
Delivery of Lula: in detail
Philadelphia, Pennsylvania, USA
Total funding raised: $14 million
Founded in 2020, Lula Delivery helps small and medium retailers, primarily grocery stores and convenience stores, digitize their physical inventory for online sales and delivery.
The company allows retailers to create and upload a digital store profile with updated inventory information and a digital presence at major delivery providers including Uber Eats, Postmates and Grubhub.
Lula Delivery allows retailers to manage all orders, inventory and delivery from its central platform. The platform also has analytics capabilities, providing information on total sales, new customers and stock levels, with the aim of enabling retailers to track their performance and grow their stores.
The company aims to help its retail partners participate in the rapid growth of online shopping for everyday items by giving them an easy way to leverage existing delivery platforms to deliver their goods.
What problem does the company solve?
Given the challenge of executing efficient last-mile deliveries, small independent retailers often struggle to access online shoppers who seek delivery convenience for essentials and groceries.
As such, many of these retailers attempt to manage orders from many businesses across multiple different apps. The inefficiency of this process makes last mile deliveries for small retailers more expensive and less productive.
Lula Delivery bridges the gap between online consumer demand for the delivery of everyday items and the supply of those items in nearby physical stores. Thus, users can extend their reach to the vast market of convenience stores and online grocery stores in a way that smaller stores would otherwise lack the necessary bandwidth.
Many consumers are opting for home delivery of everyday items and groceries over collection services. Coresight Research US Online Grocery Survey 2022 found that 49.0% of online grocery shoppers primarily use home delivery as fulfillment, up from 47.5% in 2019 before the pandemic, making it more popular than pickup. This highlights the popularity of shoppers getting everyday items delivered, often from grocery stores and convenience stores, rather than going to a store to pick up their orders.
We believe consumers will maintain their preference for delivery as a method of fulfillment, especially for groceries, snacks, and over-the-counter medications, which presents a big opportunity for nearby convenience and grocery stores. According to 2022 data from NACS, there are 148,000 convenience stores in the United States and 43% of Americans live within a mile of one of these stores, underscoring the opportunity for these stores to meet the demand for delivery of everyday items and groceries. The advance of innovative retail technologies and fulfillment strategies will likely drive the growth of the last mile market for everyday items and groceries.
what we think
As consumers explore the convenience of delivering everyday items to their doorstep, often at convenience stores and grocery stores, small and medium-sized retailers that sell these items should look to digitize their physical inventories and respond to demand for these items.
We believe the trend of online shopping and delivery at convenience and grocery stores will continue: retailers that adopt a more omnichannel model that bridges physical inventory and online demand can better compete with largest retailers in the market.