In the last year or so, every retailer was jumping on the bandwagon – you have to start selling meal kits. The story was sold on the belief that millennials were looking for a quick way to make meals that were not already prepared and cooked.
Sounded plausible and several startups showed impressive subscribers signing up for the service. Grocers installed new 8 to 12 foot sections selling home meal kits. Everything looked great until the novelty began to wear-off and kits stopped selling.
Evidence of the fade was one of the most prominent meal kit providers in the US, Blue Apron yesterday posted another quarter of bad results.
Blue Apron lost $21.9 million in the fourth quarter and its customer count was down to 351,000 from 557,000 during the same period a year ago. The company said it is exploring strategic options, including a sale or merger of the company.
Like any business, such drastic drops in customer count is writing on th e