Jüsto

Exceptional quality groceries at fair prices.

Daniel Rodriguez

and

Andres Gonzalez

Feb 23, 2024

Startup Snapshot:

Startup name: Justo
Industry: Technology / Grocery Retail
Business Model: Grocery Delivery
Founders: Ricardo Weder, Ricardo Martinez Finger
Operations: México, Brazil and Perú
HQ Location: Mexico City, Mexico
Founded: 2019
Stage: Series B
Investors: General Atlantic, Google for Startups, Endeavor Catalyst, FEMSA Ventures, Nazca Ventures, Foundation Capital
Website: www.justo.mx

Jüsto’s Purpose:

Jüsto is an online grocery startup that aims to change how people shop for groceries in Latin America. Traditional grocery shopping has remained unchanged for years, with small independent stores being the most common. However, the market is vast and lucrative, with Mexico’s worth $69 billion and Brazil’s worth $116 billion. While major retail giants such as Walmart, Chedraui, Soriana in Mexico, and Pao da Azucar in Brazil hold most of the industry’s total value, they face tough competition from e-commerce giants like Amazon and Mercado Libre.

To keep up with the changing needs of consumers, brick-and-mortar stores have had to adapt by creating an omnichannel customer experience. However, their digital solutions are outdated and ineffective, with e-commerce sales accounting for less than 2% of their current sales. They have added digital solutions as a superficial layer on top of the offline infrastructure, resulting in subpar user experiences.

Any purpose is valid, as long as it resonates with you and is authentic to you, beyond financial gain, because this is a roller coaster.

-Ricardo Weder, Jüsto Founder

Traditional retailers have tried to keep up with the changing needs of consumers by partnering with third-party delivery companies to enable their online operations. While these efforts have helped to some extent in addressing user experience issues, they are not tailored solutions for the industry.

What sets Jüsto apart:

Jüsto is different. They offer a reliable and streamlined online experience focusing on fresh and high-quality products. Jüsto's vertical integration approach eliminates intermediaries and third-party providers, resulting in fresher food, higher margins, and a seamless customer experience that outperforms traditional and on-demand delivery models. They aim to reshape the landscape of the grocery value chain in the region, offering an innovative and seamless shopping experience for both B2C and B2B customers.

Furthermore, Jüsto takes pride in promoting a fair and sustainable grocery model. The company empowers small and medium-sized Mexican producers by providing them with access to sell their products online and negotiating fair trade agreements. Jüsto is different from traditional online grocery stores because it uses high-tech micro-fulfillment centers. These micro-fulfillment centers enable same-day or next-day service to densely populated areas, resulting in improved fill rates, faster order preparation times, and increased customer satisfaction compared to traditional grocers.

Jüsto by the Numbers:

2019, the year Jüsto was Founded.
80%+ of providers in Mexico are SMBs (Small and Medium Businesses)
350 products up to 30% cheaper than the competition.
400% YoY growth in 2023.
2,000+ team members.
6,500+ products in their catalog.
250M+ raised to date.

Key Takeaways:

Disruption of Traditional Grocery Shopping: Jüsto is revolutionizing grocery shopping in Latin America with an innovative online platform that focuses on quality and freshness, challenging the conventional model of small independent stores and traditional retail giants.
Vertical Integration and Seamless Experience: Jüsto stands out for its vertical integration approach, which removes intermediaries and third-party providers, resulting in fresher products, better margins, and a more seamless customer experience. They prioritize in-house solutions to ensure reliability and efficiency, rather than relying on partnerships with third-party delivery companies.
Fair and Sustainable Model: Jüsto prioritizes fairness and sustainability while providing a superior shopping experience. It empowers small and medium-sized producers and promotes fair trade agreements. Jüsto uses high-tech micro-fulfillment centers for faster and more efficient service.

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