Jennifer Marston had an illuminating conversation with Odeko CEO Dane Atkinson about the coffee shop industry, and the dreaded specter of consolidation.
“The really important message [is that] if we don’t sustain this industry, it really will become Starbucks and Dunkin’ Donuts,” Dane told her. “They will consolidate in smaller locations and the community and neighborhoods will suffer.”
To that end, Odeko is helping the 10,000 shops on its platform via mobile ordering and supply chain management. Odeko runs sales data through AI to predict what shops need for the next week, with 90% accuracy. The supply chain portion is especially crucial in the time of COVID:
“Previously, as a shop, you could get away with some waste in your inventory,” he noted. Now, throwing out unused inventory is akin to “your own salary you’re throwing out.”