How to Stretch Your Groceries w/Andy Ellwood
episode
Wealthy After 40: Retirement Planning and Budgeting for Gen X
25 min
2 speakers
4 chapters
transcribed 1 month ago
Transcript
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Transcript generated automatically by AI and may contain errors.
What is the main topic discussed in this episode?
Welcome to the Wealthy After 40 podcast, the show for Gen X women and couples who are ready to ditch financial stress and feel confident about retirement. I'm your host, Dailene Higgins, money coach and retirement strategist to help you gain clarity and confidence with your money by creating a spending plan. that aligns with your financial goals and dreams so you can spend intentionally, save consistently, and feel at peace about your future. Join me every week to understand your money, simplify your decisions, and take intentional steps toward the life you want.
Andy Elwood is the founder of Stretch, a new AI platform reimagining how families navigate the grocery aisle. A serial entrepreneur behind companies acquired by Facebook and Google, Andy has built everything from global learning communities to purpose-driven tech startups. His philosophy, Make Room for Many, guides his work as he uses technology to create more access, clarity, and and opportunity for everyday consumers. I'm excited to bring Andy Elwood onto this podcast to help you learn how to stretch your groceries. Welcome to the podcast, Andy. Welcome, Andy. I'm so excited to talk about this new app of yours, to introduce it to listeners, as I know we have all been consumed and being consumed by grocery prices.
So I'm going to start off the interview with this question. What was the moment you looked at grocery shopping and thought, this is the problem I need to solve?
I became, it was when I became a dad and I was buying a lot of things that I hadn't bought previously over and over again. And depending on which store I went to in my neighborhood, there were different prices. And then you start to add up. I wasn't ever going to the store for one thing. I was going to the store for multiple things. And all of a sudden, I'm like, what's the right combination of things to buy at this store versus this store? Should I buy it at this store that says it's cheaper, but this other one has discounts and coupons, this one has a loyalty program? And I just was like, the information is all here, it's just not organized very well. And I was thinking about the other things that I spend money on.
I would never buy a $500 flight without comparing it on Expedia. I'm going to go to Expedia or Kayak, I'm going to just check. I'm probably going to pick my normal airline because I have some status there. But if another major airline is 50% less, I'd switch. And I think the same thing for buying homes or buying a car or even now with a good RX, for buying prescriptions, we compare prices for most of the things that we purchase. But for groceries... We just go to a 40,000 square foot store with refrigerators and hope that they charge us a fair price. And as I said, for the thing that I'm spending $1,000 a month on, That seems like a silly thing to do, just trust that the local store is going to give me the best price for the products that I have.
So I just said, what would it look like if we created a grocery companion? What would it look like if we had, what would it be like if I had a really smart friend that knew everything about groceries and did all the homework and research for me? And then when it was time for me to go to the store, it told me, it gave me the answers. And so that's what we started to try and build a stretch.
Love that. I love that. So tell us just a little bit about stretch. It's what it is. And I know your tagline is don't grocery alone. Right. So, yeah, just enlighten us just a little bit more about what stretch is and how it can help us.
Yeah, so Stretch converts your grocery list into actionable intelligence. So if you just take a photo of this week's grocery list, drop it into Stretch, Stretch will show you every store close by that's on the platform that carries all of your products and what the total price is for your entire shopping list at each local store. And so it might be $70 over here and $84 over there and $96 there and $110 there. But the $110 store is the one that's closest to you.
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Chapters
4 chapters
1
What is the main topic discussed in this episode?
0:06–8:39
2
When and why did Andy decide groceries were a problem he needed to solve?
8:39–17:56
3
How does Stretch convert a handwritten grocery list into store-by-store price comparisons?
17:56–23:36
4
How does Stretch learn your household preferences and personalize grocery suggestions?
23:36–25:03
Speakers
2 identifiedMore from Wealthy After 40: Retirement Planning and Budgeting for Gen X
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