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How Does Getir Make Money? The Getir Business Model In A Nutshell
Getir is a Turkish grocery and restaurant food delivery platform founded by Serkan Borancili, Tuncay Tutek, Dogancan Dalyan, and Nazim Salur. Salur got the idea for the company after wondering if food could be delivered nearly as quickly as taxis could be hailed.
As a dark supermarket operator, Getir makes money by selling items at a 10% premium to traditional supermarkets and retailers. Margins are higher because the company only leases the warehouses where the dark stores are located.
Getir also charges a flat delivery fee on orders above a certain threshold, with fees varying according to the country served.
Getir is a Turkish grocery and restaurant food delivery platform founded by Serkan Borancili, Tuncay Tutek, Dogancan Dalyan, and Nazim Salur. The on-demand service claims to deliver food and other items in as little as ten minutes.
Salur and Borancili knew each other from the Turkish ride-hailing app BiTaksi, where users could hail a cab anywhere in the city in no more than three minutes. The co-founders wanted to see if similar expediency was feasible in the food delivery space.
Getir was launched in 2014 at a time when Turkish customers had not yet become accustomed to ordering groceries online. With online grocery deliveries taking up to a week, the co-founders decided to deliver within ten minutes. Tutek later noted the significance of this decision: “Delivering within 10 minutes is significant for customers, because 10 minutes means right now. If we can achieve delivery within 10 minutes, we can retain our competitive advantage even when other players come into play.
The team commenced operations in a rented office and used a former florist building as warehouse space. For the first few years, business operations were difficult. In addition to a preference to purchase groceries from bricks-and-mortar stores, Turkish consumers also avoided paying with credit cards. To overcome this resistance, Getir invested heavily in marketing campaigns and recruited a team of early adopters to experience ultrafast delivery for themselves.
There were also problems with securing investment funding, as Turkey was not known to be a breeding ground for successful start-ups. Getir finally secured a $38 million round of Series A funding in January 2020 as the COVID-19 virus began spreading around the world.
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