Caldbeck: Consumer receipt apps fail to capture long-tail CPG data
Ryan Caldbeck · a16z Podcast | Who's Down with CPG, DTC? (And Micro-Brands Too?) · Feb 26, 2019 · at 25:09
Ryan Caldbeck, CEO of CircleUp, explains why consumer receipt-reward apps fail to provide useful market intelligence for emerging, long-tail CPG brands.
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“The challenge has been many of them tap out at five, ten million consumers, at least here in the U.S. The problem with that level is that then that's such a small portion of the pot of the overall population that you're not capturing the long tail of companies.”
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“In CPG specifically, there will be quantitative VC firms... We think that that is possible in some industries in the private markets. We don't think it's possible in tech.”
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“So when we say it doesn't work, I think it is an incredible channel for iterating on a product. I think it drives innovation. I can find my consumer base and I can test a new product. Next month I can test a different product. That's very different than the of…”
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