{"id":26360,"date":"2021-08-06T16:59:41","date_gmt":"2021-08-06T11:29:41","guid":{"rendered":"https:\/\/www.posist.com\/restaurant-times\/?p=26360"},"modified":"2023-08-24T17:18:17","modified_gmt":"2023-08-24T11:48:17","slug":"kwicpik","status":"publish","type":"post","link":"https:\/\/www.posist.com\/restaurant-times\/foodpreneurs\/kwicpik.html","title":{"rendered":"Kwicpik Offers Convenience To The Customers With Next-Gen IoT Technology"},"content":{"rendered":"

Abhishek Chatterjee is the Founder & CEO of <\/span>Kwicpik<\/span><\/a>, a 1-square-meter micro-retail store that connects users with well-known F&B brands in commercial and residential spaces.\u00a0<\/span>Kwickpik uses IoT technology to provide an automated self-checkout provision and uses data analytics to offer F&B products you like even before one thinks of it. <\/span>A young entrepreneur, Abhishek was raised in Dubai, UAE, and pursued mechanical engineering from the University of Pune. He has an MBA in Entrepreneurship & Finance from IE Business School, Spain. Before starting as an entrepreneur, Abhishek has work experience in Manufacturing, Biz Development, and Market Research.<\/span><\/p>\n

In Conversation With Abhishek Chatterjee, Founder & CEO, Kwicpik<\/strong><\/h2>\n

In an<\/span> exclusive conversation with The Restaurant Times<\/span><\/a>, Abhishek Chatterjee, Founder & CEO, Kwicpik, discusses how the brand <\/span>provides healthy, fresh, affordable meals and F&B products to commercial spaces via <\/span>IoT smart fridges.<\/p>\n

A Young Entrepreneur\u2019s Journey in the F&B industry<\/strong>\u00a0<\/span><\/h3>\n

The idea of Kwicpik came from Abhishek\u2019s experience in his university days. His reluctance to cook and the whole overwhelmed delivery sector inspired him to enter into this segment.<\/span><\/p>\n

There is no specific educational qualification that one needs to enter in this industry. It is the passion, and love for food, which takes you a long way. One has to wear different hats, curate the menu, structure logistics, think about food safety, and work on multiple aspects.<\/i><\/span><\/strong><\/p><\/blockquote>\n

The FnB industry is quite a resilient one, even though macroeconomic conditions keep changing.\u00a0<\/span>Sharing his current experience with Kwicpik in the Middle Eastern market, Abhishek says it is growing but is also a very challenging one.\u00a0<\/span>The last-mile delivery sector is overcrowded. And the challenge that any F&B entrepreneur would face is to retain customers. However, since there are so many platforms, it becomes challenging to retain loyalty.\u00a0<\/span><\/p>\n

Kwicpik- Grab, Grub, Go!<\/strong><\/h3>\n

The F&B operators have to face many challenges and competition, which puts pressure on the top-line and overheads and also drains a lot of the bottom line. Whether it is the workforce costs or real estate costs, it becomes difficult to sustain the business. Kwicpik provides F&B operators with these micro-retail spaces so that they don’t have to worry about workforce costs, and can easily put the IoT refrigerator in prime locations.\u00a0<\/span><\/p>\n

Abhishek points out that there has been quite a lot of research to find a product that would actually fit the idea of a smart fridge and this is where the IoT aspect came in. In addition, the one square metre specification of the product reduces the real estate burden significantly.\u00a0\u00a0<\/span><\/p>\n

The product is an IoT refrigerator that unlocks with the Kwicpik app. The refrigerator has an electronic lock on it.\u00a0<\/span>One needs to be registered on the Kwicpik app, add credit card details, and scan the QR code on the fridge with the app to unlock the door, and access the contents inside.<\/span><\/p>\n

For instance, if someone grabs a juice bar, or a salad bowl, and puts it back in, the fridge identifies the entire movement when someone closes the door of the fridge.\u00a0<\/span>All of this takes place through sensors, cloud technology, and as Abhishek points out, this is what makes it an IoT.<\/span><\/p>\n

Upon asking how Kwicpik actually helps brands to add more value to their services, Abhishek says, “A cloud kitchen brand typically has more brands than a physical restaurant, therefore the menu is enormous. A single-store restaurant has a limited number of food options whereas, in a coworking space, customers have a lot to choose from. The Kwicpik team analyzes large data sets to monitor what the customers are appreciating in meals and products.”<\/em>\u00a0<\/span><\/p>\n

The team conveys this information to the operators where the installers are set up and based on the feedback they receive, they reduce the wastage of meals too.\u00a0 Moreover,\u00a0 the brand also tries to retain the customers by getting a sense of their taste buds and ordering preferences.\u00a0<\/span><\/p>\n

Abhishek says that the target market for Kwicpik is not just limited to grocery stores, or beverage providers but also covers restaurants and cloud kitchens.\u00a0<\/span><\/p>\n

Market Opportunity For IoT Refrigerators<\/strong>\u00a0<\/span><\/h3>\n

According to a report by <\/span>ReportLinker<\/span><\/a>, The Internet of Things (IoT) and traceability for the food and beverage (F&B) manufacturing market is expected to reach $8.43 billion by 2025.\u00a0\u00a0<\/span><\/p>\n

Abhishek says that there\u2019s a new pinnacle for the F&B industry to achieve if they incorporate IoT technology in restaurant operations.<\/span><\/p>\n

He points out three key areas that IoT helps with:<\/span><\/p>\n