Bolt is a fast-growing company behind a mobile app for food delivery and ride-hailing. They are currently focused on expanding one of their grocery-related services, with help from dataplace.ai.
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Bolt has added a new service to its portfolio: Bolt Market. It offers customers grocery delivery within 15 minutes of placing an order via the Bolt Food app. Its creation was a response to changing consumer shopping habits and emerging market trends. The new Bolt Market store format is based on ordering groceries exclusively through the app, with no physical store access, designed to minimize the shopping process. Our client planned to expand this service to 10 European markets in a short time to meet changing consumer behaviors and scale their business.
For the service Bolt wanted to introduce to new territories, the most critical competitive factor for
the success of the venture was time. When customers place an order, they expect the 15-minute delivery promise to be kept. Therefore, a significant challenge was planning logistics so that Bolt Market locations would allow
for the service to be completed within the promised time. Bolt needed a solution to help determine the market potential for their new store locations, taking into account courier delivery coverage areas.
"Bolt is growing very fast, so we need a tool that can keep up with us, but above all, provide us with reliable and easy-to-digest data on market potential. Dataplace.ai has met our needs. We see that location intelligence analyses provide value to our business, and dataplace.ai are experts in what they do." - Rauls Alvateris, Bolt Market Expansion Team
Our product portfolio includes a tool perfectly suited for analyzing location potential. We provided the client with access to the placeme web application, where we created a dedicated workspace for the Bolt expansion team assigned to this project. The application provides over a dozen advanced analyses, allowing users to understand the characteristics of a new location as well as the volume and profile of the people
located there. Since our data covers the entire EU market, Bolt was able to easily determine the potential for all 10 markets they intended to enter.
Specifically, the analyses provided:
We always pay attention to the individual needs of our customers, even the smallest ones, and strive to meet them. To select the area to be analyzed around a specific address, we added a special feature to the application: cycling reach. Previously, our application allowed users to check areas within walking or driving distance, or by manually drawing on the map. However, since Bolt couriers primarily travel by bike, we added this option to show the real potential of a location and meet our client's needs; it has now become a permanent feature of the application.
Thanks to the analyses in the placeme application, the Bolt expansion team was able to verify initial assumptions regarding the potential of a given location
based on hard data, including:
By using an accessible application and data presentation format, and by verifying the market potential of a location before launching an investment, Bolt was able to reduce risk and the time associated with expansion.
