“As near-term trends for cooking at home have improved, the longer-term outlook for cooking at home similarly has been gathering momentum,” said Kozlowski.Īccording to a consumer survey of 1,005 Americans between the ages of 18-73 in April 2020, 54% of respondents reported cooking more due to coronavirus restrictions and 51% said that they will continue to cook at home even when the global crisis comes to an end. While the company doesn’t publish its churn rate (the annual percentage rate at which customers stop subscribing) publicly, Kozlowski said that the company has seen “re-engagement of existing customers, as well new customers coming into the pipeline.” Blue Apron 'Premium' recipes gain traction “The customer additions in the second quarter came despite our deliberate decision to scale back marketing and promotional programs earlier in the quarter as we focused on building capacity in our facility centers to address the great demand,” said Kozlowski during the company’s Q2 2020 earnings call. For the 16 weeks ended June 30, 2020, Blue Apron gained 20,000 new customers reaching nearly 396,00 quarterly customers*, and “for the first time in five years” average revenue per customer was above $300, said Blue Apron CEO, Linda Findley Kozlowski. The recent tidal shift in consumer behavior is reflected in the company’s customer base as well, noted the company in its Q2 2020 financial results. The growth can be credited, in large part, to the impact COVID-19 has had on consumer behavior as cooking at home and experimenting with new recipes has become the new norm for many consumers who find themselves eating out much less, said Blue Apron. Emulsifiers, stabilizers, hydrocolloidsīlue Apron stock has been on a downward trend since its initial public offering stock price of $140.10 in June 2017, but it has recovered from its three-year low of $2.28 in March 2020 to $12.24 per share as of July 29, 2020, representing an approximately 437% increase. Chocolate and confectionery ingredients.Carbohydrates and fibers (sugar, starches).
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