A QUICK INTRODUCTION ABOUT WHAT YOUR COMPANY DOES/YOUR VALUES/MISSION.
The company Retalos introduces innovative vending machines to the European Market. The
the main difference to a normal vending machine is the 55-inch touchscreen, which changes the business model tremendously and allows our customers to add outdoor advertising and market research as new revenue streams in addition to the margin in product sales.
The top three values are innovation, strong customer focus, and hard work. The objective is to shape the retail of the future together with our customers and all the people that are living in our target markets. It is our mission to change the European vending ecosystem as part of the retail infrastructure and connect brands with their customers and generate the most value for both sides.
TELL US ABOUT YOURSELF?
Fynn Huch, the CEO, has years of experience in the food retail sector and worked for the largest German retailer. After talking to hundreds of food startups, he decided to invent a way to better connect brands with their customers. In 2020 he decided to work closely with his friend as a Co-Founder. “My Co-Founder and I developed the business model and started a test phase with a unique machine from China, which we only can find via Alibaba.com” states Fynn Huch.
IF YOU COULD GO BACK IN TIME A YEAR OR TWO, WHAT PIECE OF ADVICE WOULD YOU GIVE YOURSELF?
“In general, I would advise myself to talk to more stakeholders about the business case. As
well, as visiting more trade fairs and smaller events for personal networking. I think I would
advise anyone who is an entrepreneur to speak openly about the concept with experts from
the industry. The outcome can be very nurturing for the company objective and vision”.
WHAT PROBLEM DOES YOUR BUSINESS SOLVE?
Retalos offer their customers a new Direct to Consumer channel (D2C), over which they have
100% control. 1) They have the possibility to interact with their customers and get complete
and real-time data during the sales process.2) Additionally, reduces the logistic costs for any B2B product, enabling them to have an accurate and target-oriented marketing place for their products. e.g., A fitness brand can place a machine, with their own products, at a gym and reach their customer groups there.
WHAT IS THE INSPIRATION BEHIND YOUR BUSINESS?
The inspiration behind the business comes from Huch’s personal and professional travels. He saw this business model in other countries, especially in Asia, and felt inspired to bring it to his motherland Germany.
“I have seen these vending machines in other countries but are far more popular than in Germany and Europe. In my opinion, overall, the retail market in Germany is outdated in terms of innovative products and customer experience. Thus, we want to give the companies the chance to make a step into new ingenious sales and marketing channels and get to know better their customers. For example, giving them the opportunity to get by first-hand important insights and feedback in their development process, to validate their existing products, and-or to innovate more” Fynn Huch said.
On the other hand, Retalos is inspired and committed to the environment. Also, one of the
biggest objectives behind this business model are to reduce waste and give new options to
companies and society.
“We saw innovative retail technology solutions scaling in other countries and wanted to make these technologies are accessible to the European market, to offer our customers state-of-the-art shopping experience”, the CEO quotes.
WHAT IS YOUR MAGIC SAUCE?
Retalos’ secret or magic sauce can be summarized in the innovative vision and founders.
mindset, as well as the strategic and worldwide unique machine supplier Alibaba.com.
“Our Magic Sauce is that we think big and love to bring down-on-earth new concepts. Also, this idea has been possible thanks to Alibaba.com, we found a supplier who can deliver a machine with a 55-inch touchscreen for a maximum advertising effect”, confirms the CEO.
Furthermore, Retalos has a bigger picture in terms of bringing vending machines to the
next level. It has been already exploring new customers, diversifying, and adapting to
more companies’ needs. For example, one of their customers XX placed the first vending machine with socks and underwear in Germany. Additionally, for the client Mito Care,
they placed the first machine with dietary supplements.
“We are extending the vending concept to new markets; our competitors mostly sell food via the machines. Also, the products in the machines which are operated by us, offer the
products with a supermarket price level or even below sometimes” affirm Huch.
“There are a few things I can highlight. First, thanks to the Alibaba.com suppliers’ platform we found the best hardware provider, which gave us the potential to have a state-of-the-art
technology product (Vending Machin), unique in the market. Second, we breathe innovation. Our business model is one in a kind regarding the synergies for all stakeholders. We think about the brands’ needs and their 4 Ps Marketing, the product, the price, the promotion, and including, the place. The strategic locations where the machines are getting placed is as important as the product itself”.
WHAT IS THE PLAN FOR THE NEXT 5 YEARS? WHAT DO YOU WANT TO ACHIEVE?
Retalos’ plan is to become the most relevant player in the fast-growing unmanned retail
sector, placing thousands of machines all over Europe. During the scaling process, Huch
and his team don’t forget that they want to have fun during the process, looking forward
to working with motivated people and customers who share the same vision and values
that Retalos has.
Retalos’ vision is to offer different unmanned retail concepts and create the most possible value for
German and European customers and thus, their targets. “We want to establish the vending market as an essential element in the European retail sector with the help of international players like Alibaba.com suppliers use” affirms Huch.
WHAT IS THE BIGGEST CHALLENGE YOU’VE FACED SO FAR?
According to Huch, the biggest challenge the company has faced so far was finding the right supplier and testing the concept successfully in the German market, one of the most sophisticated and competitive retail markets in Europe. With the acknowledged partnership with Alibaba.com, the supply chain process was smoother and more successful.
Retalos had to reinvent over the years, changing the Business Model from B2C to B2B2C, and currently consulting and advising their customers on how to get the most added value from the system and the machines.
HOW DO PEOPLE GET INVOLVED/BUY INTO YOUR VISION?
“We present our concept and different networks e.g., sustainable food, tech, vending sector,
and external people giving us only very positive feedback so far, which makes us very thankful and motivates us to push further every day”.
At the moment, Retalos is looking for partners who want to scale their solution in the European market. Partners can be retailers, brands (especially Direct to Consumer and FMCG brands), locations, and B2B companies or experts from the tech, IoT, advertising, retail, market research, or vending sector. We also want to increase our solution portfolio and are open to connections with retailers which are offering solutions for digital signage/ advertising and unmanned retail stores. Please contact us via LinkedIn or write an Email to [email protected]
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