![]() The company announced Knick Knacks last week on its earnings call, where it reported still very concerning numbers.Įarnings per share were -$0.12, $0.05, and revenue for the quarter came in at $140.7 million.įor Q4, Blue Apron reported a 25 percent year-over-year decline in its customer base, to 557,000 from 746,000. With Knick Knacks, Blue Apron is tackling some of the issues with its meal kits - namely, the high cost and the need to subscribe to receive them. ![]() Though Blue Apron’s name had become synonymous with meal kits, they were beset with challenges on all sides - including then fast-growing competitors like HelloFresh, an inability to reduce unit costs, customer base declines and the challenges in converting newcomers to subscribers in the face of competition from ready-to-eat meals, delivered on demand and available at most markets today for pickup. Jet then became the first online retailer to sell Blue Apron’s meal kits - giving the meal kit company a needed boost at a time when its subscriber base had been in decline. metros like Boston, Philadelphia and D.C. The localization efforts would begin in New York, Jet said at the time, before rolling out to other major U.S. The revamped site is now localized to where shoppers live, with images and messaging specific to the customer’s city. ![]() Jet had relaunched its site the month prior with a new focus on serving the needs of urban shoppers, which included same-day delivery of groceries. But by dropping the two most expensive ingredients from the meal, the company has brought the price down to $7.99, compared with prices that ranged from $17 to $23 for the meal kits that launched on Jet last fall.Īs you may recall, Walmart subsidiary Jet announced in October that it would begin selling Blue Apron’s meal kits to its City Grocery customers. The new recipe kits, called “Knick Knacks,” still require refrigeration, but require customers to supply their own protein and produce to complete the meal. Blue Apron is introducing a lower-cost version of its meal kits, initially only for Jet.com shoppers in the greater New York City metro area.
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