Business Case Study: Eggoz
Business Case Study: Eggoz
Business Case Study - Eggoz: Revolutionizing the Egg Industry
In the ever-evolving industry, you will find competition at almost every step you take, be it in any field or business for that matter. Eggoz has emerged as a true model for innovation and sustainability.
It was founded in 2017 by Abhishek Negi and Vishal Chaudhary. The company currently has a presence in cities like Chandigarh, Jaipur, Delhi, Bangalore, Lucknow, and Kolkata.
They had a deep-rooted passion for animal welfare and quality. For any business in the market, it is essential for the founders to first find out the gaps that are going on, and as we know, specifically in this field, there are lots and lots of gaps, like lack of hygiene and high prices, that are exactly put into most of their work. The quality of their products is worthy of appreciation. It is rapidly growing from just a small business start-up to a well-established egg brand in the market and has a profound impact on the Indian market.
Brand Building
Their major focus was on customer expectations, and they were undoubtedly meeting them by setting standards in egg production. By implying producer- and consumer-friendly services and methodologies, they were rapidly increasing their business, keeping in mind their premium quality of packaging.
They were using technology and sustainable farming methods; they focused on addressing all the necessary challenges, ensuring animal welfare, and delivering consistently high-quality products to the consumers in the market. Their marvellous approaches not only differentiated them from other companies or businesses, but they also had a good position in the Indian market by practising ethical agricultural methodologies.
Technology Growth
Farming practices like cage-free farming, which not only improve animal welfare but even the quality of the product, were adopted by the brand.
In one of his interviews, he stated that their eggs had a solid checking system, and they were checked on almost every phase. If they found any kind of deformity in the egg, it was well-cleaned and sanitized, and hygiene was taken with proper care.
He even talked about how they use the growing technology of artificial intelligence in their business. As the egg business is a very seasonal business, it might rise like anything during the winter season and also, at the same time, decline like anything during any religious time, which makes it very important for the producers to keep track of everything. They could track the health of the birds through it, and such advancement really made them set their bar high.
Eggoz Business Model
As it was stated by Negi, their ultimate plan for their business model was that they wanted to sell their eggs in proper packaging. Their model was to connect small-scale and mid-scale farmers within a streamlined program. Through this partnership process, they received veterinary care, technical support, and audits.
They aim to deliver superior-quality eggs from these farms directly to urban and semi-urban consumers. Eggoz’s distribution strategy employs an omnichannel distribution strategy, including D2C, which means direct-to-customer, modern trade, and general trade, keeping their market presence on top.
To bridge the gap between farmers and consumers through the creation of a sustainable supply chain in the market for eggs, thereby benefiting both the farmers and the consumers. They claim that their repeat customers are around 80%, which is a huge number without a doubt.
Eggoz Product Range
Eggoz, being a brand that has definitely distinguished itself, has launched quite a few products that are not just unique but also consumer-friendly.
They have these fortified eggs, then brown eggs that apparently come up from a whole different bird (though he stated that there was no such difference between the white eggs and brown eggs, other than the different birds, as per the consumer’s eyes, there was no major difference), free range eggs, and even their new inventions like “3 minute omelette eggs," “egg momos," “egg nuggets,” and even “egg burgers”! Who would go for these overpriced egg burgers in the market when we have the quickest and tastier solution?
Look at how easy they’ve made their marketing with such innovative products! They not only catch the consumer’s eye but even give massive competition to other brands.
Expenses Breakdown
Roughly 50% goes to the farmers, 5–8% to the packaging, ensuring their premium quality, 5% to the logistics, and around 10–11% to their manpower.
According to them, their eggs can be consumed by anyone. Be it the kids, adults, fitness freaks, or mothers. Their major target consumers are mothers and children.
Their eggs are offered at a price of ₹9 each, in contrast with ₹7 for lost eggs.
The brand has recently confirmed that they have crossed ₹100 crore in ARR sales within just 3 years of its launch.
Work Division
As he stated in one of his interviews, there are three of them, and Aditya Singh looks after the sales department in the organization, the cost function, and human resources. Uttam looks after the supply chain, and Abhishek Negi himself looks after marketing, finances, and business intelligence.