Listen Now: Blue Apron and The End of Meal Prep Delivery
Meal kit companies are everywhere but that doesn’t mean their plates are full.
Blue Apron and Hello Fresh are just two meal kit delivery companies that promise to make your days a little easier. But not many people are taking a bite out of the business and the service is starting to suffer.
According to the Los Angeles Times, New-York-based Blue Apron hasn’t turned a profit since it went public in 2017. The company might even be delisted from the new york stock exchange because its closing share price has been under a dollar since early May.
And there are lots of reasons why. It’s expensive for companies to prepare, package and ship fresh ingredients to customers. And once those packages arrive, customers still have to put the meals together which in some cases can be a lot more work than they wanted.
On top of that, customers say there is a limited amount of options on the menu and some ingredients aren’t as high quality as promised. This might not be the kind of take-out customers will buy.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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