Tom Dougherty, CEO – Stealing Share
8 August 2017
Blue Apron getting a lesson in the basics
A twinge of intrigue rumbles in my ever-impressionable gut when seeing advertising for Blue Apron. The art direction for the high-end meal kit plan (recipes and ingredients sent to your front door) surely inspires. Just take a look at what I am talking about:
Looks delicious, no? I want to eat all of everything in each of these three bowls. It looks healthy and filing. Not to mention better than anything I might concoct at home (sorry Barilla pasta, tomatoes and token side vegetable).
Blue Apron surely knows how to sell its goods; problem is – it’s spending more to recruit new customers than it is making in return per quarter. That, as good as the food looks, kind of sours the whole situation.
Blue Apron fends off Amazon too
On top of this, Amazon just announced its jump into prepared food boxes, dropping Blue Apron’s stock by 11%. In response, the company is laying off 1,200 employees. Its stock fell another 5%. Amazon upends all the grocery chains.
“Maybe it needs to have more meaning, rather than just category benefits of good food and a channel strategy.”
Tragic. Guess all the pretty advertising isn’t helping. Maybe it needs to have more meaning, rather than just the category benefits of good food and a channel strategy.
My youngest son, bless his heart, had a terrible business plan once. Mind you, he was six at the time. Back then, he would get all the neighborhood kids to come to his “Coin Stand” and sell all of his dimes for nickels. Sure, the kid liked the way the nickels looked (his whole reason for selling in the first place). But the poor kid kept losing profits. Needless to say, his friends were happier than ever.
Sadly, this parable translates to Blue Apron’s branding troubles all too well. You just can’t spend more money than you are making. My son learned that lesson at six. Shame Blue Apron is still being schooled by it.
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