HelloFresh is seeing not only a decline in demand for meal kits, but also a decline in sales of ready-made meals. Despite falling revenues and mounting losses, the company points to efficiency gains.
Declining number of orders
The 13.5% decline in revenue to 1.58 billion euros in the third quarter is attributable to an almost equally large decline in the number of orders (-12.9%). A slight increase of 1% in the average order value cannot compensate for this loss. Business is particularly difficult in North America, with a 18.5% decline in revenue to 988 million euros. The number of orders fell by more than 17%.
