Home-delivered meal kits were all the rage at the height of COVID-19, offering housebound Canadians a variety of food options that could be assembled in minutes.
But as the economy further reopens and food prices continue to climb, subscribers are turning away from these convenient offerings in droves. For one, meal kits are becoming unaffordable for many families. It costs about $140 for three meals for a family of four per week from HelloFresh, and about $135 from Goodfood.It’s also difficult for meal-kit providers to retain customers, who can easily take recipes and unsubscribe from the service.
In a note to clients, RBC Dominion Securities analysts Paul Treiber and Maxim Matushansky said though the industry continues to normalize following COVID-related lockdowns, HelloFresh’s revenue was “slightly above” predictions.While HelloFresh cooked up a storm over the last quarter despite significant headwinds, Montreal-based meal-kit provider Goodfood struggled across the board.
Hello Fresh
If I ever resort to using one of these services I hope someone puts me out of my misery. Some people have more money than brains.