About Us
GreenBay is a 100% plant-based omnichannel grocery retailer, making it easy, fun and convenient for people to try a plant-based lifestyle by connecting them to new and emerging brands that are positively impacting the planet.
Investment Highlights
£1.7+ million turnover with no external investment
110k+ transactions
350% online growth from Jan 2020
Launched own range of products
Margins increased to 60%-70% via B2B Wholesale strategy
100k+ followers & subscribers across channels
1000+ reviews rating us 4.9 out of 5
Grown the team from 0 to 10
Vision and Value Proposition
GreenBay makes it easy, fun and convenient for people to try a plant-based lifestyle by connecting them to new and emerging brands that are positively impacting the planet – all while supporting a more sustainable food system for everyone and fighting climate change.
One stop marketplace for all plant-based needs, inspiring everyone to make better choices every day.
GreenBay provides an easy go-to-market platform for all new plant-based brands not available elsewhere to be discovered, offering fair terms, advice, exposure and support.
For every new purchase, GreenBay partners with charities and organisations fighting climate change by working on reforestation projects across the globe, not only offsetting their carbon footprint but tackling one of the main effects of animal agriculture.
GreenBay is establishing as the favourite retailer of those who want to make a positive impact regardless of their diet, inspiring people to make positive changes every day.
GreenBay makes it easy, fun and convenient for people to try a plant-based lifestyle by connecting them to new and emerging brands that are positively impacting the planet – all while supporting a more sustainable food system for everyone and fighting climate change.
One stop marketplace for all plant-based needs, inspiring everyone to make better choices every day.
GreenBay provides an easy go-to-market platform for all new plant-based brands not available elsewhere to be discovered, offering fair terms, advice, exposure and support.
For every new purchase, GreenBay partners with charities and organisations fighting climate change by working on reforestation projects across the globe, not only offsetting their carbon footprint but tackling one of the main effects of animal agriculture.
GreenBay is establishing as the favourite retailer of those who want to make a positive impact regardless of their diet, inspiring people to make positive changes every day.
The Problem
Climate breakdown is now. Animal agriculture is the leading factor accelerating climate change:
from global warming, widespread pollution and deforestation, to water scarcity, habitat loss and species extinction.
Eating a plant-based diet is considered to be the “single biggest way” to reduce your environmental impact on earth (up to 73%!).
However, shopping PB products is expensive, time consuming and inconvenient.
For Customers: Traditional supermarkets are including more plant-based products in their ranges, but the offering is very limited and spread out.
For suppliers: Plant-based product manufacturers struggle to place their products on the shelves of traditional supermarkets due to volumes requested, margins, etc.
Target Market and Opportunity
The vegan and sustainable grocery market is experiencing huge growth (£290bn by 2035, CAGR 11.9%) and is set to continue accelerating, with flexitarians to make up half of British population and a quarter expected to be vegan by 2025.
92% of plant-based products in the UK are not consumed by vegans or vegetarians, but by regular people looking for better alternatives, for health, or environmental reasons (the flexitarian market).
This target segment is currently being underserved. Vegan niche stores are not accessible and perceived as unusual, while bigger retailers have sub-par plant-based products and scattered offering.
The Solution
GreenBay makes it easy, fun and convenient for people to try a plant-based lifestyle by connecting them to new and emerging brands that are positively impacting the planet, all while supporting a more sustainable system for everyone, inspiring people to make positive changes every day.
Business Model
Omnichannel strategy:
Flagship stores: E-commerce may be growing, but brick & mortar retail still plays an important role in consumers’ lives. A large percentage of consumers still prefer physical stores to shopping online, even if the role of the store is evolving. Our flagship store in Fulham acts as a showroom to provide a curated experience and deepen the connection with our community. It can be used to connect with the community at a more personal level as well as to showcase new products and to conduct product demonstrations. It provides a tactile, sensory shopping experience that the digital realm just cannot match. GreenBay Store is seamlessly connected to the other channels in order to provide an enhanced and unforgettable customer experience. During the pandemic, it proved to be an excellent way for customers to shop and feel safe. They placed their orders online or over the phone and collected from the store. No queues and no interaction with other customers, just a very fast and efficient service.
E-commerce DTC: Shipping thousands of positive impact brands across the UK on a carbon neutral Next Day Delivery Service. Customers can pick & choose between a wide range of plant-based products whilst feeling inspired by our categories, trends and customer reviews. With the ease of a click, they can choose to collect from the store, or get it delivered, straight to their door.
B2B Wholesale: The one stop wholesaler for UK businesses to discover and find all plant-based needs, connecting innovative European plant-based brands with UK retailers. The B2B strategy has allowed for a margin increase of over 100%, with margins for these products currently between 60%-70%, which will become more efficient as the business scales.
Own products: Growing range of GreenBay products, providing mouth-watering plant-based meat alternatives.
GreenBay is establishing as the marketplace for all things plant-based, with many opportunities for exit with partnerships or acquisitions. As our model and product evolves and scales, there is a huge untapped potential for growth.
Marketing and Sales Strategy
Funds will be invested into scaling operations, growing the team, developing our range and accelerating marketing.
B2B Wholesale Strategy and brand partnerships with new plant-based brands are a key driver of revenue, giving access to higher margins, exposure and new exciting brands not available in other retailers, driving many of new customers.
Product range increase by 3x-5x: with access to new bigger premises, scaling of operations and product choice will grow, not only attracting new customers but retaining current ones.
Affiliate marketing: an important driver, giving GreenBay exposure while increasing the spread of the word.
Loyalty programme: our current model rewards customers based on spend and incentivises them to become regulars. Customer retention rate is above 40%+, way above average.
Organic traffic driven by in-house content: from social engagement, new product launches, recipes and news, GreenBay is the one stop place for all things plant-based, with over 100K followers across platforms and over 1000 reviews rating us 4.8/5.
Paid marketing: with a very low CAC (customer acquisition cost) of £1.44, average ROAS of 6.8 and £216 LTV avg, scaling marketing will be extremely efficient once we have moved to bigger premises that can help cope with the demand.
Do You Have A Question? If you need any more info, you can contact the entrepreneur directly.
Team
Anderson Caicedo
Co-Founder
A former JP Morgan and Bloomberg Data Analyst, Anderson has more than ten years of experience in business & inventory management, financial responsibility and investment banking. He is an Industrial Engineer and Westminster University graduate with an MSc in Investment & Risk Finance.
Paula Alcalde
Co-Founder
Paula is an entrepreneur with 10+ years experience in leading businesses in the Design, Retail & Food sector. A Oxford University and Goldman Sachs Business Programme alumni, she has a background in Engineering & Design, and leads the product, brand and vision for GreenBay, as well as being a speaker at different start-up events.
Dhanesh Kothari
Founding Director
CEO of Beyond Animal and former Vice President of JP Morgan & Credit Suisse, Dhanesh has strong execution track record of delivering a number of enterprise class and strategic IT platforms at some of the Fortune-500 companies in the world, handling global IT departments with $10m+ budget and global teams of 100+ people.
