While HelloFresh’s stock price has been consistently rising since late 2019, the increased business is especially good news for Blue Apron. Meanwhile, according to Google Finance, HelloFresh’s stock price was also on the rise, from $20 on March 16 to $26.50 two days later, before continuing on to nearly $30 by March 25. On March 18, while markets fell so fast they triggered circuit breakers, Blue Apron shares were up 140 percent in midday trading. Apricot Balsamic Glazed Pork Tenderloin from HelloFresh Bridget Halenar / Optimistic Kitchenīlue Apron and HelloFresh both witnessed surges in demand in recent weeks, and investors took notice immediately. “We believe home cooking is an opportunity to find some comfort and joy in this rather uncertain time,” a representative for Blue Apron tells Eater.
What was once a perk of the direct-to-consumer lifestyle has become a lifeline for those avoiding grocery stores, and a chance to learn a new recipe or practice an old skill in the kitchen. During the crisis, though, the services have taken on renewed significance for customers staying at home to follow social-distancing recommendations or shelter-in-place orders. Until recently, services like Blue Apron and HelloFresh provided guidance to novice home cooks or just simple convenience to everyone else - but the industry has historically had trouble maintaining customers. Kaufman cooked her first meal and says she loved it.
So she signed up for an account with Blue Apron, one of a number of meal kit delivery services that predate the novel coronavirus outbreak, but which seem particularly suited to a customer base wary of grocery runs. “It reminded me of avoiding the ghosts in Pac-Man, but with other people.” The options at the store were limited - just some pork and “beef chuck, sirloin steak, and ribeye, which is weird but I guess people are still watching their cholesterol,” she jokes. To stock the fridge, “I had to go to the local grocery store, which has very narrow aisles. Heather Kaufman recently took over her parents’ apartment in New York while they ride out the coronavirus pandemic in New Jersey.
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