4/26/2023 0 Comments Blue apron cyber monday dealAfter trying a similar service and dropping it after two weeks, I can confirm that the convenience factor just isn't there.īlue Apron customers placed just 4.1 orders on average during the first quarter, down from 4.5 during the first quarter of 2016. Blue Apron doesn't really deliver on that front, since it doesn't eliminate much of the prep work. The second group of people are those who cook regularly but want to save some time. Given that it's much cheaper to just buy ingredients at the store, these customers will probably drop the service as well. If the customer does discover a knack for cooking, that person eventually won't need the hand-holding Blue Apron offers. A Blue Apron meal is priced similarly to a meal at a fast-casual restaurant, so it's a hard sell if the customer doesn't genuinely enjoy cooking. They'll either confirm that they don't like cooking, or they'll find that they enjoy cooking and want to do more of it. Blue Apron cuts out the process of coming up with recipes and shopping for ingredients, and it's not a bad way to expose people to cooking.īut these customers will take one of two paths. The first group are people who never cook and don't really know how. There are two types of people who are drawn to Blue Apron and similar services, in my estimation. Much of the prep work - chopping and slicing - is left to the customer. The company sends a box full of ingredients for those meals, as well as instructions on how to prepare them. Overpriced groceries by mailīlue Apron charges $9.99 per person per meal for its standard two-person plan, which comes with three recipes (six total meals) per week. The business model, mailing ingredients and recipes to customers, just doesn't make much sense. If you still find yourself tempted by this trendy company drowning in red ink, there's another reason to stay away from the stock. Blue Apron posted a net loss of $52 million during the first quarter, nearly as much as it lost during the whole of 2016. The financials alone are reason enough to avoid Blue Apron stock like the plague. The company is on pace to generate around $1 billion of revenue this year, but marketing costs are exploding, revenue per customer is in decline, and the company is burning cash at an accelerating rate. Much has already been written about Blue Apron's financials.
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