How did Domino’s manage to capture ~70% of the #Indian pizza market?
A thread.🧵(1/9)
Well, to begin with, every fast-food chain entering India has to modify their menus as per Indian taste preferences and the pizza giant had to do it too. (2/9)
But what’s more, is that it even hyperlocalized its pizzas. In 2014, the chain launched a spicy raw banana pizza specifically for South India. For inspiration, the chefs go on regular ‘food walks’ through local markets.
(3/9)
Also, to please the budget-conscious Indians, Domino’s spent eight months examining everything from flour to toppings, to lower prices. It then introduced what it called “Pizza Mania”—a 35-rupee (less than $1) pizza. (4/9)
Its locations throughout the country are situated exactingly: experts study each neighborhood, the streets, and traffic flow to find the fastest delivery routes- to honour its “30 minutes or free” policy.
(5/9)
The chain also realized that for Indian people in small cities eating out is a family event. To keep that feeling alive, Domino’s offers large dine-in spaces in such areas. Thus, the chain not only focuses on urban areas but also rural areas, unlike its competitors. (6/9)
Domino’s has also adapted to the fast-changing tech landscape in India. Jubilant Foodworks, its operator in India, claims Domino’s to be the 1st Foodservice brand to launch online and mobile ordering in India. (7/9)
With the 2nd largest population of internet users in the world, ~75% of Domino’s orders were online in 2019.
What do you think, will some other pizza chain throw Domino’s off its perch? (8/9)
Sources: Domino's India – 30 min or free..creating the market- HBS
India just can't get enough pizza- QZ
How Domino's Reinvented Itself To Win In India- Fast Company
******
Make sure you visit Ditto (product by Finshots) for simplified insurance advice- bit.ly/3koiTh0
• • •
Missing some Tweet in this thread? You can try to
force a refresh
Sri Lanka's forex reserves have dropped precipitously, from $7.5B in Nov '19 to just $2.8B in July.
And now a lot of people are worried about Sri Lanka's worsening economic crisis.
So what's the deal? 👇(1/9)
Sri Lanka’s problem seems to stem from the fact that the country is quickly running out of foreign exchange reserves — Things like gold, dollars, and other dollar-like assets.
But how did it get here? (2/9)
Well, Sri Lanka is what you call a “Frontier Economy” — it’s neither underdeveloped nor big enough to be branded an emerging economy. Countries like these are usually dependent on a few specialized sectors.
(3/9)
Some of the most unusual economic indicators you've probably never heard of- Part 2!
A thread👇 (1/11)
1.) The Bike Fatality Index - Evidence from the UK suggests that bike fatalities increase during recessions.
During periods of financial uncertainty, commuters avoid trains & cars in favor of bicycles.
More cyclists out on the roads raise the probability of mishaps. (2/11)
2.) Romance Novels Indicator - A bad economy can be heartbreaking. And what can be a good escape from heartbreak? A larger-than-life, cheesy romance novel! (3/11)
The brilliant psychological ploy #businesses use to trick YOU into overspending.
A thread.👇
A decade ago, behavioral economist Dan Ariely noticed something strange about the subscription option of the international weekly magazine, The Economist.
The options were: 1. Web-only subscription - $59. 2. Print-only subscription - $125. 3. Web + print subscription - $125.
Dan thought what you’re thinking right now - "why would anyone buy the print-only subscription?"
On conducting a #study among MIT students, he found out that 84% chose the web and print option while only 16% of the students chose the web-only option.
Ever wondered how buffet restaurants like Barbeque Nation offer unlimited food at such low prices?
A thread👇 (1/10)
Let’s start with their first offering - drinks. Soft drinks are one of the cheapest supplies for any restaurant, and these are offered in many ways - either as a complementary option or as a bottomless option where you pay for a glass but get unlimited refills. (2/10)
The idea is to make you drink them as much as possible so that you’re eating less food. (3/10)
If you are a regular shopper, you might have noticed that women’s products cost more than the male equivalent or generic products.
Is this a fluke, or are #women paying more for products made for them?
Turns out, yes, women pay an invisible cost in the form of “The Pink Tax”👇
But the catch is - it’s not really a legitimate #tax imposed by the govt. It’s a cost added on products that are marketed towards women. The packaging on these products is often pink, ergo the name.
For eg, a study in the US found that the ingredients in shampoos & deodorants are almost identical for men & women, but prices for female-targeted items were nearly twice as much. Reports suggest that this pink tax costs women $2135 a year.