Explore the words cloud of the Weekend Shop project. It provides you a very rough idea of what is the project "Weekend Shop" about.
The following table provides information about the project.
WEEKEND MAGAZIN WIEN GMBH
|Coordinator Country||Austria [AT]|
|Total cost||71˙429 €|
|EC max contribution||50˙000 € (70%)|
1. H2020-EU.3. (PRIORITY 'Societal challenges)
2. H2020-EU.2.3. (INDUSTRIAL LEADERSHIP - Innovation In SMEs)
3. H2020-EU.2.1. (INDUSTRIAL LEADERSHIP - Leadership in enabling and industrial technologies)
|Duration (year-month-day)||from 2019-05-01 to 2019-10-31|
Take a look of project's partnership.
|1||WEEKEND MAGAZIN WIEN GMBH||AT (WIEN)||coordinator||50˙000.00|
In Europe, 30,000 new produce products are launched per year of which 90% fail and consumers end up with only 3,000 new products that stay on the shelves. Manufacturers put a great deal of passion and time into developing a new grocery item and spend an average of €250,000 per innovation but most fail, which means they lose €6.7 billion on a European level. In order to minimize losses, brand owners and manufacturers purchase syndicated or custom market research reports, rely on scanner data or hire mystery shoppers. We have invented the Weekend Shop, the supermarket where consumers can choose 20 innovative products for a small monthly fee, and we launched our first flagship store in Vienna, Austria. We are about to open two further stores in Austria (Graz and Linz). The concept allows members (shoppers) to get access to products before they are in the conventional retail stores in exchange for a small monthly fee and their opinion. Manufacturers and brand owners can run product acceptance tests that provide them with unique representative information about their product. We call this real-life product testing. Innovations in data analytics allows the emergence of online market research. The advances in market research allow us to create our real-life product shopping concept and therefore enter the €40 billion global research market. We have two streams of revenue, including membership fees from consumers and product test-based fees for manufacturers. Currently, our customers are 1,500 members and 80 brands at the Vienna store (e.g. Manner, Dr. Oetker, Knorr, Red Bull). For the EU, fostering innovation in agriculture and food manufacturing needs to be supported by a retail landscape that allows for innovative products to be purchased by consumers. With initiatives such as our Weekend Shop, those innovations have a higher chance of being accepted by the market due to direct feedback, and give opportunity to SMEs in the field to grow and provide quality produce.
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The information about "WEEKEND SHOP" are provided by the European Opendata Portal: CORDIS opendata.
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