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HelloFresh Sees U.S. Growth Opportunities Boom

HelloFresh Sees U.S. Growth Opportunities Boom


GERMANY
Thursday, November 5th, 2020

The pandemic has shifted many things regarding consumer behavior trends, but one thing we know for certain: more people are staying home to cook, and that means that meal-kit delivery has also seen a spike in demand. HelloFresh has responded to this spike by expanding its capacity to better provide products to the U.S.

Dominic Richter, Chief Executive Officer, HelloFresh“The trend toward eating more meals at home accelerated during the pandemic, and we consider the key drivers for this to have become permanent,” Chief Executive Officer Dominik Richter said.

According to Reuters, HelloFresh considers the United States its key market. The news source reported that sales worldwide more than doubled in the third quarter for the meal kit provider. HelloFresh reported sales of 970.2 million euros ($1.13 billion) for the third quarter. The upper end of the company’s own forecast range provided last month 968 million to 971 million euros, up 120 percent from a year earlier.

HelloFresh has announced it will be expanding capacity to keep up with a surge in demand for its products in the United States

Richter explained on an analysts’ call that half of the growth in sales in the third and fourth quarters was coming from customers spending more time at home during lockdowns, while the other half was growth the company would normally have expected organically.

For more information, click here to view HelloFresh’s quarter three results and here for the report.

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