Food delivery apps have emerged as the next big thing since the COVID-19 pandemic situation. With people confined to their homes, the need for an alternate medium to satisfy cravings has propelled the popularity & revenue of on-demand food delivery apps. The sheer convenience of availing deliveries at doorsteps, coupled with the access to a variety of eateries, make food delivery platforms the talk of the town.
Among various food delivery apps currently thriving, Berlin-based meal kit delivery app, HelloFresh, has acquired the headlines after having sailed past its annual revenue forecasts comprehensively. The news comes as a big boost after the platform’s recent acquisition with Factor75, a fellow meal kit delivery platform, for $277 million in November.
With aggressive growth plans, HelloFresh aims at expanding globally, and the recent turnaround of events has been highly favorable for the meal kit delivery firm. Are you an entrepreneur who aspires to develop an HelloFresh Clone? If so, this blog provides you with a detailed overview of the platform’s growth and the steps involved in developing a meal kit-specific food delivery app.
HelloFresh – A Quick overview
HelloFresh, also known as, HelloFresh SE, is a Berlin-based meal kit delivery app operating in numerous regions like the US, Canada, Western Europe, Australia, etc. Launched in 2011, the platform is the largest meal-kit provider in the US. The platform had caught the investor’s eye right since its inception. After having gathered $10 million in 2012 & $7 million in 2013, the platform received a massive $50 million in the 2014 funding rounds.
The meal kit delivery platform became a unicorn company in 2015, after citing a valuation of $2.6 billion. Similar to funding, the platform was keen on acquisitions right from the initial stages. In 2018, HelloFresh made two significant acquisitions – GreenChef, a US meal-kit delivery company & the Toronto-based meal-kit delivery company, Chefs Plate. The platform currently caters to 5 million customers across 14 different countries.
The platform that aims to expand further in the US recently acquired fellow meal kit delivery app, Factor75, for $277 million.
HelloFresh – Future Plans
HelloFresh continues to expand globally as the platform has devised strategic plans and targets to achieve for the future. Here are some stats that signifies the platform’s growth.
HelloFresh will continue to expand its capacity to supply US diners by 50% by the mid of 2021.
The platform’s revenue rose massively by 120% in the third quarter of the year.
Shares of the platform have witnessed a 138% YoY growth.
The platform aims for annual sales of 10 billion Euros ($12.14 billion) & double penetration levels in the medium term.
After generating a currency-adjusted net revenue of 1.76 billion Euros in 2019, the platform will continue penetrations in 1 to 2 new markets per year until 2025.
With people leaning towards ready-to-consume nutritious food, it is pretty apparent that HelloFresh is well on-track towards massive growth in the upcoming years.
Developing an app like HelloFresh
It is now time to initiate your meal kit delivery app development. With advancements in technology, you can develop an UberEats Clone meal kit delivery app from not one but a variety of sources. Some of the popular techniques include,
Building from scratch: In this app development technique, you develop an app right from the ground up. You approach an app development company or freelance developers, share your ideas, and build the app. It typically takes a minimum of 3-5 months to develop the app.
Customizing ready-made apps: In this emerging technique, you needn’t wait 3-5 months. You approach app development companies, customize their clone app solutions, and launch the app across the Android & iOS platforms within a matter of a few days.
If you’re a budding entrepreneur, you can opt for an UberEats clone app as it is budget-friendly, time-conserving, and highly scalable.
Challenges in running a meal kit delivery app
The market scope for meal kit deliveries is relatively less when compared to the conventional restaurant to consumer model. Running an online meal kit delivery business invariably involves challenges. A successful entrepreneur eliminates these hurdles, emerging triumphant.
Accurate & efficient delivery chain – Having an efficient delivery chain is critical in satisfying customers. You can either opt for an in-house delivery team or hire workers on a gig basis. Either way, leverage AI to promise accurate timings and streamline your delivery chain to achieve the same.
Inconsistent target audience: As a meal kit delivery platform, your primary target audience includes weight loss & fitness enthusiasts. People tend to return to their routine every once in a while, leading to an inconsistent target audience.
Features worth-integrating into the platform
Your meal kit delivery app must captivate the audience, and features are critical elements in helping you achieve that. Integrating a perfect blend of essential and unique elements into the platform can help in elevating customer engagement rates. While features like registration, payment, ratings, etc., constitute the necessary elements, it is the unique elements that make your platform stand apart.
Multilingual support: Gain a global presence by integrating this multilingual support. This way, users can access UberEats Clone platforms in the language of their choice.
In-app wallet: Enable users to pay for their orders via an e-wallet, eliminating the need to enter account details every time during payments.
Reorder: With the reorder feature, users can access their order history and repeat orders with just a few taps.
In-app chat/call: Provide users the option of communicating with the support team and deliver special instructions, if any.
With a healthy CAGR of 12.8%, the global market for meal kit delivery will reach $20 billion by 2027. HelloFresh surpassing its annual projections is another positive sign for the sector. In our more than a decade-long existence, we, at Appdupe, have helped numerous entrepreneurs scale their business in no time. Reach out to us, and we’ll help you develop a leading-edge meal kit delivery app like HelloFresh.
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