Chapter
The Benefits of Gift-a-Meal Option in Food Ordering Apps.
32:17 - 45:06 (12:49)
The gift-a-meal option in food ordering apps provides customers with a feel-good vibe about eating more and getting a great deal. The food ordering apps that offer the gift-a-meal option have recorded higher ticket prices compared to those without this feature.
Clips
A salesman talks about his experience in selling software and how he ventured into the wholesale industry.
32:17 - 34:14 (01:57)
Summary
A salesman talks about his experience in selling software and how he ventured into the wholesale industry. He emphasizes on selling to the top 10% of the residents who buy 90% of the goods to maintain his margins.
ChapterThe Benefits of Gift-a-Meal Option in Food Ordering Apps.
Episode#187 - How Vending Machines are Generating Millions, The Next Big Social App & Ghost Kitchens For Gifts
PodcastMy First Million
The speaker discusses his interest in a new tech investment and talks about a young entrepreneur who sold an app to Facebook for $100 million.
34:14 - 36:17 (02:03)
Summary
The speaker discusses his interest in a new tech investment and talks about a young entrepreneur who sold an app to Facebook for $100 million. He then proceeds to brainstorm new ideas for business ventures.
ChapterThe Benefits of Gift-a-Meal Option in Food Ordering Apps.
Episode#187 - How Vending Machines are Generating Millions, The Next Big Social App & Ghost Kitchens For Gifts
PodcastMy First Million
Subscription businesses often benefit from people who sign up and forget that they're paying for a service, resulting in essentially free money.
36:17 - 39:26 (03:08)
Summary
Subscription businesses often benefit from people who sign up and forget that they're paying for a service, resulting in essentially free money. However, this can also lead to unhappy customers who haven't used the service in a long time and are still being charged.
ChapterThe Benefits of Gift-a-Meal Option in Food Ordering Apps.
Episode#187 - How Vending Machines are Generating Millions, The Next Big Social App & Ghost Kitchens For Gifts
PodcastMy First Million
Food ordering apps have introduced a new "gift a meal" option that allows customers to pay for someone else's meal.
39:26 - 45:06 (05:39)
Summary
Food ordering apps have introduced a new "gift a meal" option that allows customers to pay for someone else's meal. Studies show that 20% of people go over the set price, 20% go under, but most pay the same, resulting in an increase in the average ticket price and happier customers.