Basch: Too Good To Go bags cost $4 to $6 for 3x value
Lucie Basch · HIBT Lab! Too Good To Go: Lucie Basch · Mar 9, 2023 · at 6:28
Lucie Basch, co-founder of Too Good To Go, details the typical consumer price point and value proposition for the surplus food marketplace.
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“And so, you pay a small price on the app, between four and six dollars, basically, and then at the closing time, you come, you show your receipt on your phone, and then you get a bag filled with food for three times the price you paid for.”
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More from Lucie Basch
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“At Nestle, it's all about how can we produce faster and cheaper? And, you know, there is nothing around how can we improve the health of our consumers? How can we make it better for the environment? How can we make the food more nutritious?”
Basch: Scaling meant achieving country-level profitability within 16 to 24 months
“And, you know, it was always the same mindset, is a country will become profitable between 16 and 24 months, and then it will pay for the next one.”
Basch: 40% of global food is wasted, generating 10% of emissions
“Today we throw away 40% of the food we produce on the planet, that this is responsible for about 10% of greenhouse gases emission, and that still nearly a billion people go to bed hungry every night.”
Basch: Too Good To Go takes a $1.79 cut on a $5.99 bag
“So, one 79 goes to Too Good To Go, and everything else goes back to the store.”