Meal Kits Take Amazon Deeper Into America's Kitchens
Meal Kits Take Amazon Deeper Into America's Kitchens
Amazon already sells some meal kits by Tyson Foods and Martha Stewart
18 July, 2017, 01:27
Note: This report pertains to Amazon Fresh and meal kits in the U.S., but presumably the United Kingdom would be next in line if Amazon chose to go down this route. "You be the chef", according to The Times. While it's unclear if Amazon Fresh will take over Whole Foods' existing grocery delivery service, there's a good chance that any meal kits offered by Amazon could also be prepared and delivered via Whole Foods locations. Blue Apron said in its IPO prospectus that it believes its cash and borrowing capacity will be sufficient for at least a year. When you combine that with slowing revenue growth, dismal customer retention rates, contracting margins, and rising expenses, Blue Apron becomes a high-risk stock for investors' money.
Blue Apronshares tumbled more than 11 percent to $6.51, a drop of almost 35 percent since its June 29 initial public offering price of $10.
A customer loyalty program associated with the meal kits may also be in the works.
Blue Apron went public at $10 a share on June 28, days after Amazon announced a $13.7 billion offer for Whole Foods.
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Blue Apron tumbled 8.4% to $6.74, dropping below its IPO price of $10 a share. With a market cap of $1.23 billion, Blue Apron is about a quarter billion dollars away from losing its unicorn status.
"Amazon's meal kit delivery service poses a major threat to Blue Apron", Smith added.
"The target customer who uses a meal kit delivery service is a busy, affluent consumer". It spent almost 70 percent of last year's revenue on food, shipping and other expenses related to running the company, according to government filings. It seems only logical that Amazon would be watching an area like this very closely, and buy buying Whole Foods, may see an opportunity to pick off that now-low hanging fruit.
Amazon shares rose almost 1 percent to $1010.93 on Monday, up 4.4 percent for the month, while Blue Apron shares were off about 30 percent for July.
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