Online grocery delivery platform Good Eggs said Wednesday it has raised $100 million and hired Vineet Mehra as its first chief growth and experience officer.
Online grocery is exploding during the pandemic and is on track to double its market share to become a $250 billion industry by 2025. Good Eggs, launched in 2011, is looking to capitalize on this growth by expanding into Southern California as its next big market this year.
In his new role, Mehra will oversee classic marketing functions from branding to performance, as well as e-commerce and customer care in what he described as a “modern CMO remit.”
“The way I think about the modern marketing landscape is acquisition, retention, advocacy and a great product experience,” he said. “Customers themselves have become the biggest acquisition source for your company.”
Mehra joins the Bay Area-based company from Walgreens Boots Alliance, where he had been chief marketing and customer officer since January 2019. Previously, he was global chief marketing and revenue officer of Ancestry for two years.
While Good Eggs clearly isn’t as large of a brand as WBA, moving over to a company in start-up growth mode was appealing to Mehra, who is also looking forward to returning to the Bay Area, where he previously worked while at Ancestry.
“I just love this stage of a company,” he said. “At Ancestry, we brought consumer genetics into the mainstream from zero to a massive category. I love growth-stage, tech-enabled businesses with deep human purpose.”
Good Eggs, which delivers locally sourced foods straight from farms to shoppers within 48 hours, has a commitment to sustainability that also resonated with Mehra. “The commitment to sustainability, health and wellness, and real, toxin-free food from farms is very much on trend,” he said.
It’s also a positioning that can set it apart from the pack as online grocery services such as Instacart and Fresh Direct continue to grow. “There are lots of meal kits and online grocery companies, but this one is very much about locally sourced ingredients, optimized for freshness,” he said.
Despite the competition, Mehra doesn’t see Good Eggs as a niche play as trends around sustainability and local delivery become mainstream. Good Egg shoppers are able to fulfill 65% to 85% of their grocery needs on the platform, which carries everything from fresh produce to vitamins and bath salts.
As Good Eggs expands into Southern California, Mehra will focus on “sharpening” the brand and its positioning by highlighting stories from local farmers and producers through an editorially-minded content team.
The brand is going to build out its performance and direct marketing capabilities, recently bringing on performance agency Goodway Group, and create a customer service function that uses site and predictive analytics to drive marketing investment decisions.
“A lot of these areas already exist at a baseline,” Mehra said. “We’re going to [announce] some key hires over the next couple of months to expand and develop these capabilities.”