Blue Apron Debuts New Meal Kit Option Through Walmart
NEW YORK, NY - Lately, it seems that meal kit provider Blue Apron can’t catch a break. Earlier this year, the company fell into the pit of penny stocks and suspended its pilot program with Costco, so the heat is on to turn things around and raise profits. Its most recent attempt is the introduction of a new line of meal kits at a lower price as part of its new partnership with Walmart.
As part of its now-complete partnership with Costco, Blue Apron developed a new meal kit concept, Knick Knacks. The kits have enough ingredients for a meal for two and are designed to be paired with store bought proteins and produce. The kits also retail at a lower price. The new concept provides consumers with more flexibility and extends the kit's shelf life. Now, as part of the company's new partnership with Walmart, the meal kit will be available through Walmart’s Jet.com. The kits will cost $7.99, a bargain compared to its previous meal kits, ranging in price from $16.99 to $22.99, as reported by the New York Business Journal.
Walmart’s Jet.com focuses on delivering goods to urban customers, such as those in the New York City and Hoboken, New Jersey, areas. Although the new Knick Knack kits are only available through an e-commerce retailer, the company’s CEO, Brad Dickerson, claims that the kits could work in brick-and-mortar retail locations.
For Blue Apron, last year was fraught with competition from rivals like HelloFresh, Gobble, Home Chef, and Dinnerly. In the latest quarter, the company lost more customers after scaling back marketing. While spending cutbacks and layoffs have been plentiful, those strategies are an attempt to turn things around, minimize losses, and raise profits in 2019.
Will this new meal kit strategy help get Blue Apron back into the game? Keep reading AndNowUKnow to stay posted.