![]() ![]() The company’s Chief Financial Officer Randy Greben said through the meal kit provider’s “test and learn philosophy,” the company observed that price increases put into effect around a year ago, before inflation weighed as heavy on consumers’ minds as it does today, yielded “almost no incremental churn or change to order frequency.” Similarly, this year, the company has not been seeing the “small amounts of churn that we would have expected.” “And we do know that a big part of what we're seeing is macroeconomic as opposed to being directly related to the pricing change.” “We're very clear on the difference between the pricing change and macroeconomic factors, which helps us think about our communications and our marketing programs and our pricing really effectively,” Findley said. ![]() Observing the behavior of those who “choose not to order” from the company, “through focus groups, through surveys, and through really detailed data analysis,” Blue Apron has determined that pricing actions have not negatively impacted sales. 8) discussing the company’s second quarter 2022 financial results that the meal kit provider has parsed which factors have customers pulling back and which have surprisingly little effect. ![]() However, meal kit company Blue Apron is noticing that, while the changes in the overall economy might affect their decisions, price increases implemented by the company have not had much of an impact at all.īlue Apron President and CEO Linda Findley told analysts on a call Monday (Aug. As inflation continues and the impending recession weighs heavy on consumers’ minds, many are making changes to their food purchasing.
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