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Blue Apron CEO speaks out on inflation and supply chain pressures

‘The consumer has actually evolved quite a bit in a really, really interesting way’ says Blue Apron CEO Linda Findley. The Blue Apron CEO joined Yahoo Finance Live on July 5, 2022 to discuss the latest in business trends, inflation and supply chain pressures.

Video Transcript

LINDA FINDLEY: Blue Apron was built on this model of really transforming the food system. We actually have a direct sourcing model, which means 80% of what we put into the box comes directly from producers. That allows us to have longer-term contracts, keep very high quality ingredients coming into the box, and mitigate some of those pressures for our customers.

The consumer has actually evolved quite a bit in a really, really interesting way. During the pandemic, a really interesting transformation happened. It was more about developing the skill sets, finding value, finding variety, and creating a moment, an actual time of engagement. And so what we've seen is post-pandemic, people are seeing more of the true values of the box, how they think about the cost of the ingredients they get, how they think about food waste, how they think about sustainability.

In the last 10 years, we've shipped 483 million meals to people all over the country. And we actually focus on a variety of types of partnerships, everything from acquisition partnerships that let us just bring in new customers, as well as alternative channels like the Walmart partnership that let us take advantage of the direct to consumer model that we have to keep our margins strong while we're actually focusing on new distribution channels and new audiences.