*By Amanda Weston*
Andy Levitt, founder and CEO of meal-kit service Purple Carrot, knows the challenges of attracting customers in such a competitive market.
And to take on rivals like HelloFresh, Plated, and Blue Apron, his company just announced a series of new meal categories for its 100-percent plant-based offerings
"We've gone from literally one choice every week to 35 different choices," said Levitt on Cheddar Monday.
According to data firm [NPD](https://www.npd.com/wps/portal/npd/us/news/press-releases/2018/-s-consumers-are-increasingly-eating-and-preparing-their-meals-at-home-often-with-the-help-of-foodservice/), four out of five meals in the U.S. are prepared at home, so it follows that meal-kit purchasesーostensibly designed to make the whole process easierーare on the rise. Since 2015, spending on these services has grown three times as fast as restaurant and grocery store spending.
The opportunity, though, has also created a lot of competition, which in turn has put pressure on the stand-alone companies. Blue Apron, the only pure-play whose stock trades publicly in the U.S., has seen its share price drop by 75 percent since its IPO a year ago.
Traditional grocers are trying to cash in as wellーin the past year, Kroger bought Home Chef and Albertsons acquired Plated.
But getting into physical stores may not be the answerーtwo years ago, Purple Carrot was the first meal-kit company to partner with Whole Foods, now owned by Amazon. Levitt said the trial ended after about five months, because the market wasn't quite ready for it yet.
"I don't think customers were expecting to go to the grocery story and find a meal-kit, I don't think grocers quite knew how to market that to their customers," he said. "The margins and the supply chain complexity may not be there just yet for customers to go to those stores, pull through the product in high enough frequency to have it make the most sense."
Offering more variety in meal plans, of course, adds to those complexities. But Levitt said he remains committed to keeping prices down.
"It's certainly a complex operation, but we've got a great team in place, and we've kept the cost exactly the same for customers even though they now have an incredible amount of choices every single week."
Among Purple Carrot's new plans are "Quick & Easy," "Chef's Choice," and "High Protein." The meals cost about $12 a plate, or $72 a week.
For full interview, [click here] (https://cms.cheddar.com/videos/VmlkZW8tMjEzMTQ=).
Nvidia reported a 56% increase in second-quarter revenue and a 59% rise in net income compared to a year ago.
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Netflix CEO Ted Sarandos claims audiences don't want to watch Netflix movies in theaters, but that seems not to be the case recently.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
Load More