PRIOR

Project "PRIOR" data sheet

The following table provides information about the project.

 Partnership

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Map

 Project objective

Prior is a on-demand commerce platform enabling businesses in the food and drinks industry to sell online. Businesses can use the platform to allow their customers to order and pay both in-store or for delivery. Prior currently powers thousands of on-demand transactions and is trusted by brands like Carrefour, Costa Coffee and Reebok. Our goal is to bring the technology powering the new on-demand economy to any business and help them bridge the gap between online and offline commerce. Both online food delivery and mobile pre-order are markets ripe for disruption with reports showing huge potential market growth in the coming years (mobile pre-order from $10 to $38 billion in 2020 and food delivery from $11 to $210 billion in the longer term). Online food ordering penetration is just 2% of the total addressable market, compared with eCommerce (10% penetration) and online travel (40% penetration). Platforms like Prior's were only accessible via third parties aggregators who cannibalise businesses’ margin or through very expensive solutions (ranging from hundreds of thousands to millions of euros). With a technological platform specifically developed to provide any business with a on-demand app or website with their own brand, Prior helps its customers increase sales and profit while reducing operational or staff costs. The feasibility assessment to be developed under Phase 1 will determine the commercial scalability of the platform. The assessment will focus on defining the global launch strategy for Prior and hence gauge the necessary effort to enter multiple markets. Prior will also be tested in a second country in Europe as part of the assessment.. Apart from defining the feasibility and setting up a strategy to scale, an actual pilot in a second country will help inform the assessment. Prior is also aligned with the European Commission's goal to make goods more accessible online and intends to foster innovation in the pursue of that goal.