Model de Negoci Eataly
Model de Negoci Eataly
Model de Negoci Eataly
Professors:
Dr. Jordi Ojeda
Ester García
Curs 2023-2024
Grup 102
Data 16/04/2024
Eataly’s unique business model is built around the original ‘eat-shop-learn’ concept, offering
to consumers a selection of high quality Italian products, a retail experience with an
overwhelming variety of finest Italian local ‘specialties’ and the opportunity to learn more
about these goods (through cooking classes, events) in a ‘full Eataly experience’, in its iconic
flagship stores worldwide.
Eataly stands for the global ambassador of ‘Made in Italy’ food and beverages. The company
focuses on quality and sustainability, using autenthic ingredients from artisan producers and
supporting local agri-food supply chains.
As explained extremely meticulously in the Manifesto, the guideline, including its main
values, aims and strategies, is:
1. WE'RE IN LOVE WITH FOOD.
We love high-quality food and drink. We love the stories about it, the people who produce it,
and the places it comes from
2. FOOD UNITES US ALL.
Good food brings all of us together and helps us find a common point of view. We believe
that one of the greatest sources of joy is what happens around a dinner table.
3. OUR PASSION HAS BECOME OUR JOB. “Find a job you enjoy
doing, and you will never have to work a day in your life.”, Confucio
PRODUCT
The brand EATALY is the combination of two English words: EAT and ITALY.
It is not only a simple store offering italian and foreign exclusive products, but also a place
where is possible to appreciate and comprehend true italian culture and traditions. From fresh
food from local artisans to an incredible variety of beverages, the opportunities are incredibly
vast.
Infact, not only Eataly stands for the global ambassador of ‘Made in Italy’, but also provides
a range of stimulating proposals aiming to enhance costumers’ curiosity, such as special
courses held by illustrious chefs or events as ‘Pasta Night’, letting costumers try exceptional
dishes prepared by masters of italian cousine.
Slow food restaturants, gelaterias, cannolerias, food-trucks: Eataly brings costumers through
a wonderful sensorial trip across the enormous variety of italian culture, making every bite a
pleasant memory.
"The advantage of the Italian kitchen is that it's replicable" states Farinetti, CEO of Eataly,
following with "Our cuisine was invented at home by our great great-grandmothers, It's very
simple.". These two factors permitted Eataly Stores to delevelop and expand throughout the
world, providing customers with high-quality products and incredible attention from the staff.
SEGMENT
Eataly aims to target the customers who believe that “the secret of a quality life is quality
food”; people who are less sensitive to the price in favor of the quality of products.
In order to focus on the type of customer, we need firstly to choose a specific area, owing to
the fact that Eataly Stores spread from Japan to USA, varying targets, aims and strategies.
First and foremost, Eataly’s stores in Italy represent an exception, since customers are
totally different from foreign ones. The strategy is different: there are less “common” italian
brands, such as “Barilla, DeCecco, Mutti”, and more specific niche products, for example the
iconic “Fiasconaro Panettone”, in order to attract a specific target: wealthy people who enjoy
excpetional quality products and services.
On the other hand, things change abroad. Infact, since the costumer segment changes
drastically, the strategies follow clients’ demands. The cheval de bataille are famous italian
brands, such as “Pavesi, Mulino Bianco or Ferrero” aiming to attract local costumers,
fascinated by the name and the origin of products, as well as italian people living abroad,
finding in Eataly a safe shelter, proving high-quality goods which could not be bought in
other supermarkets.
As Mr. Farinetti states, “Gli Stati Uniti ormai rappresentano circa il 60% del fatturato: gli
americani sono 326 milioni e hanno un’immagine e un desiderio pazzesco del food italiano e
dei nostri piatti veri”, the true profit comes from foreign countries, more specifically, USA.
COMPETITORS
As explained in the costumers’ segment, in order to provide a precise analysis of Eataly’s
competitors is necessary to distinguish the Italian case from the abroad one.
Infact, in Italy, the company struggles more to stand out due to the numerous competitors,
offering cheaper products (low-medium quality), but enough for the majority of italians. For
special occasions, such as family gatherings, customers prefer shopping from Eataly, but, in
other cases, normal supermarkets are satisfying too.
On the other hand, the foreign market is completely different. From the quality of products to
the type of service offered, other supermarkets are not even remotely comparable to Eataly.
"The advantage of the Italian kitchen is that it's replicable" states Farinetti, CEO of Eataly,
following with "Our cuisine was invented at home by our great great-grandmothers, It's very
simple.". These two factors permitted Eataly Stores to delevelop and expand throughout the
world, profoundly widening the distance between Eataly and even the more popular stores,
such as Carrefour, Target or Cost-co.
The geniality of Farinetti’s idea is that a single store can combine the best attributes of a
high-end Italian grocery store with a piazza's worth of bars, restaurants and cafés. Customers
can buy a glass of prosecco from a walk-up bar, sip it while they peruse the grocery shelves
and then have a nice piece of branzino grilled to order from the seafood counter and served to
them tableside. They can browse the three stations making three different regional styles of
pizza, or simply order from the menu at one of Eataly's four full-service restaurants. For
dessert, gelato is made in-house daily using seasonal ingredients, hazelnut creme is made
from scratch and cannoli are filled to order.
This kind of experience, despite high prices and limited supplies, makes Eataly the
undisputable leader in its branch, guaranteeing threats of substitutions and rivalry extremely
moderate.
PREU
Setting prices is an extremely delicate theme in Eataly’s Marketing Plan.
In Italy, more than foreign market, represents a crucial point, potentially affecting drastically
incomes. This owing to the fact that italians are more likely inclined to spend less for
medium-quality products, instead of a extremely niche one. For this reason the main source
of growth is not italian market, due to threatening competitors and high prices, that from a
point of view stand for a guarantee of genuine quality, but on the other keep back the
majority of italians.
Abroad things are completely different: not only is the customer segment on another level,
but also competitors are much less powerful. Moreover, due to not all raw materials can be
produced locally, logistic costs rise, leading to a general noteworthy increase of prices. For
example, Guanciale, a common type of meat deriving from Pork, worth 17-20 euros per kg in
Italy, abroad can be sold for over 60 euros/kg. What marks the difference is that costumers
are decisively inclined to pay for quality food and beverages, because its uniqueness and
rareness, not being prived by any other supplier.
DISTRIBUCIO
The concept of Eataly combines food, shopping, and education to create a one-of-a-kind
destination for food enthusiasts and connoisseurs. With its diverse offerings, including a
variety of food and beverages, restaurants, retail items, bakery, and cooking school, Eataly
aims to satisfy the needs and desires of its customers.
Eataly has several channels through which costumers are connected to producers.
From the physical stores to digital ones, the company focused on making clients’ experience
as easy as drinking a cup of coffee.
Physical stores include groceries, butcheries, restaurants, gelaterias, cannolerias, all in the
same enormous shop, facilitating the shopping and making it as pleasant as possible.
As a prominent player in the gourmet food retail industry, Eataly has been steadily expanding
its presence online. Infact, the increasing popularity of online grocery shopping posed
challenges to Eataly’s market share and customer base. To stay ahead of the competition, it
has been actively investing in its online marketing and e-commerce capabilities, testing,
initially in Italy, online improvements, such as same-day delivery, and resulting in a 5%
growth in the first two months. With recent investments, Eataly is strengthening its
omnichannel presence, meeting the evolving needs of customers and confirming its growth
trajectory.
From a logistic point of view, the main companies that collaborate with Eataly are:
-in Italy, Eataly Distribuzione s.r.l., Milkman Deliveries, Coop, Conad
-in the USA, Eataly Distribuzione s.r.l., Spring Lake Ranch, Mitsui&Co and Kichiri&Co
PROMOTIONS
Eataly has successfully implemented customer engagement strategies that keep their patrons
coming back for more.
There are various types of promotions:
-monthly or daily ones
- fidelty cards
-discounts for special occasions, such as Christimas or New Years Eve
-free samples to try new products
-Eataly recognizes the value of its employees and provides a range of benefits and perks to
enhance their work experience, such as a 20% discount on groceries and restaurant purchases
or eligibility for an annual bonus
SALE FORECAST
- During 2023, the Group has expanded its presence, reaching the amount of 50 sales points
worldwidely
- The 2023 financial year closes with growing results and an improvement in all the main
economic and financial parameters
- Eataly closed 2023 with growing revenues by 9.0% (compared to 2022) to 656 million
euros
- Revenues in the North American market are equal to over 60% of total revenues and
growing by 9.2% on 2022
- Consolidated Ebitda is 41.1 million euros, up by 61% on 2022 (+ 15.6 million euros) and
more than doubled compared to 2019
- the consolidated Ebita is 13.7 million euros, an increase of 16.2 million euros compared to
2022, the year in which it was negative for 2,5 million euros
- The consolidated net result, impacted by approximately 22 million euros of non-recurring
extraordinary charges, in line with forecasts, is negative by approximately 28 million euros,
an improvement of 0.7 million euros compared to the previous year.
- The consolidated Adjusted Net Financial Position amounted to 44 million euros at the end
of 2023, continuously improving compared to the 94 million euros of 2022.
-As Group CEO states, "The growth in revenues and margins arrived ahead of our initial
plans and represents a positive signal for Eataly and an acceleration of the development path
undertaken. In our future, in fact, we expect to continue to grow and improve profitability by
strengthening our presence both in countries in which is unwaveringly strong and in those in
which Eataly has not arrived yet”
RESOURCES
Eataly's resources encompass various assets, both tangible and intangible, that contribute to
its operations, success, and competitive advantage.
1. Physical Resources:
Retail Spaces: Stores up to 50000 square feet. More than 50 shops globally.
Production Facilities & Warehousing and Distribution Centers: Eataly has
production facilities displaced in 4 continents, with an entwined network of
warehouses to optimize logistics.
Farms and Suppliers: typical ingredients and niche products are provided by Italian
artisans and farmers, ensuring exceptional quality also abroad, with an efficient
service of exportation.
2. Human Resources:
Skilled Staff: from culinary experts to chefs and sommeliers, people who transformed
their passion for Italian cuisine and culture in their job.
3. Intellectual Property:
Brand: Eataly represents authenticity, quality, and passion of Italian food and culture.
It includes trademarks, logos, and branding elements.
Recipes and Culinary Expertise: Eataly's culinary expertise and proprietary recipes
contribute to the authenticity and uniqueness of its products, fostering customer
loyalty and differentiation in the market.
4. Financial Resources:
Capital & Revenue Streams: resources for investing in new locations and expanding
existing ones.
5. Technological Resources:
Point-of-Sale Systems: Advanced POS systems and technology infrastructure support
efficient transactions, inventory management, and customer relationship management.
E-commerce Platforms
Data Analytics: Tools and systems for collecting and analyzing customer data,
market trends and performance metrics.
KPI
Key Performance Indicators (KPIs) are essential metrics used by Eataly to measure the
success of its operations, track progress towards strategic objectives, and identify areas for
improvements.