Meal-kit service Blue Apron’s latest quarterly results point to a troubling trend in the industry.
As this chart from Statista shows, business for the service has seen a steady decline since the beginning of 2016. The company’s eventual 2017 IPO, followed by a CEO replacement, didn’t do much to turn things around.
Blue Apron’s quarterly report also follows news of fellow service Chef’d laying off hundreds of employees and ceasing business operations. Customers who cancelled subscriptions such as this have cited the services’ high costs as the reason for leaving.
- Jenny Cheng/Business Insider