A study of a business plan : a case study of the new growing segment of food delivery for packaging business

Abstract

The market value of packaging products in Thailand is estimated at 180 billion baht with a growth of 5% per year. The impact of the pandemic in recent years has caused the food delivery industry to massively grow, making this market attractive for packaging companies to target. The objectives of this study were to identified customer’s market needs, pain points, preference, and behaviour toward the food-grade paper packaging product. The instruments used were an in-depth interview with 15 representatives from an small to medium size unchain food stores locate in Bangkok and the surrounding areas. It was found that price, quality, and product design are three common factors that prevent customers to obtain their ideal food packaging products. As most food stores are small to medium size businesses, their quantity of purchases might not be as high as large-size food stores. Purchasing at a low quantity will result in a high price per unit, a major concern for these stores. Moreover, the quality of the packaging is hard to define from the outside without deep knowledge of product specifications. Poor materials and production processes can result in a defective packaging product that cannot hold goods. In addition, designing their own packaging product can be a challenge for many customers without supports from those that have packaging knowledge. The result suggests that there are still opportunities to fulfill in the paper food-grade packaging market. Hence, to respond to these issues from the customers, the new business plan name BundleUp aims to develop solutions to help small and medium sizes customers to connect with an affordable and high-quality packaging source. Bundle Up will serves packaging product solutions on both online and offline channels from designing, advising, production, and onsite delivery. Implication of the thematic paper: The finding of this study will be a useful reference for companies to better understand customers’ demands and serve the right solution for them.