296 - From Wall Street to Food Street: Sid Banthiya's Transformative Journey into Consumer Brands
About the Guest(s): Sid Banthiya is an esteemed advisor and investor with a wealth of experience in consumer businesses. He began his career in investment banking with UBS and Credit Suisse, where he developed a strong foundation in finance. Sid transitioned into executive roles at prominent consumer brands like Blue Apron and Milk Bar, where he honed his expertise in financial strategy, operations, and packaging. His journey from finance to consumer investments underscores his acumen in identifying and nurturing business opportunities within the consumer sector. About the Sponsors: Specright has some amazing things happening! Please check them out below and help support the podcast! * Specright eBook - How to define sustainable packaging strategies! * Gartner Report * Packaging Pros eBook * Home Page * Book a demo with Specright Meyers has some incredible sustainable packaging options! * Get the 2023 Sustainability Report * Meyers Packaging EPR eBook - it is FREE!! Get the dopest Packaging shirts at www.packagingfashion.com Book a demo with Trayak (LCA’s on demand!) SmartSolve has water soluble label and paper materials. Learn more! The Scrapp App is going to revolutionize home and corporate recycling. Download for your device today! Episode Summary: In this engaging episode of the People of Packaging Podcast, host Adam Peek welcomes Sid Banthiya, a savvy advisor and investor in consumer businesses. They dive into the complexities of #packaging within consumer brands, exploring how it intersects with various departments from marketing to operations. This episode promises to offer unique insights into what advisors and investors like Sid look for when assessing consumer businesses, particularly in the realm of packaging. Sid Banthiya draws from his extensive background in finance and consumer businesses to uncover how packaging impacts financial outcomes, brand perception, and customer experience. From his time at Blue Apron to Milk Bar, Sid shares anecdotes that reveal the multifaceted role of packaging in retail success. Listeners will gain an understanding of the omnichannel disruption that packaging can cause and how it influences both operational and branding strategies. This episode is a treasure trove for anyone interested in the convergence of finance, consumer behavior, and innovative packaging solutions. Key Takeaways: * Packaging impacts every department in a consumer business, from finance to marketing, and logistics to customer experience. * Sid highlights the importance of control in packaging, particularly how direct-to-consumer brands manage their packaging compared to wholesale and retail channels. * The significance of physical and design considerations in packaging decisions for shelf presence, consumer engagement, and logistical efficiency is emphasized. * An omnichannel approach requires packaging that fits well in both digital and physical realms, ensuring consistency and brand representation across all platforms. * Understanding customer feedback and behavior through packaging experiences can inform strategic business improvements. Notable Quotes: * "Packaging can hit so many different parts…from a cost perspective, and then obviously all the way to sort of the revenue side and in between." - Sid Banthiya * "There's only so much advice I can give if I don't really understand the product." - Sid Banthiya * "Finance, as we've talked about, Adam, as sort of the source of truth for everybody that's sitting in the business, that's thinking about experimenting." - Sid Banthiya * "You have the operations folks saying… It's the summer months. By the time it got there, we had bad customer experiences." - Sid Banthiya * "When you're bringing in products, if they sell out, you can simply say, hey guys, like, sorry, I mean, we sold out." - Sid Banthiya Resources: * Connect with Sid Banthiya on LinkedIn for more insights and to explore his advisories. * Learn more about Blue Apron and Milk Bar, brands where Sid
