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Meal Kits: Where Are We Now?

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Meal Kits: Where Are We Now? MEAL KITS: WHERE ARE WE NOW? Meagan Nelson, Nielsen Fresh Growth & Strategy Agenda Where have we been? Where are we now? Where could it go? Panel Discussion Uwe Voss, Chief Operating Officer & Managing Director, HelloFresh US Ashli Blumenfeld, Co-President & Owner, Standard Meat Your questions answered! WHERE HAVE WE BEEN? This artwork was created using Nielsen data. Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute. 4 MEAL KITS MERGED FRESH & ONLINE What made it unique? NONE OF THESE ASPECTS NEW MEAL KITS SOLVED A NEED STATE SOLVING Online What’s for dinner? Doorstep Delivery Do I have everything I need? I’m stuck in a rut for dinner! Products Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The 5 WHY IS THIS NECESSARY? FRESH SLOWER TO MOVE ONLINE Dollar Sales Growth By Department xAOC: eCommerce: Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The 6 Source: Nielsen Total Store Report, 52 weeks ended 9/29/18 FRESH DRIVING IN-STORE SUCCESS BRICK & MORTAR DRIVERS OF GROWTH – CONSUMER PACKAGED GOODS (CPG) +$6.7B +1.9% +$6.0B +1.8B Share of Total 31% 24% 46% $ Sales $752B $767B Fresh Center Store 2017 Non Grocery 2018 Perishables Edibles Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: Nielsen Total Food View, Total U.S. xAOC, 52 weeks ended 12/29/18, UPC-coded and random-weight/Non-UPC data, excludes Alcohol 7 MEAL KITS: A YEAR IN REVIEW May October Blue Apron launches retail with Costco HomeChef launches in Kroger Sun Basket adds Diabetes-Friendly line Raley’s introduces own line of kits HelloFresh launches EveryPlate July January March Hy-Vee rolls out WW kits Walmart introduces meal kits Chef’d closes down HelloFresh acquires Green Chef True Food Innovations acquires Chef’d assets AMC 2018 April Plated rolls out to Albertsons August February Chick-fil-A launches meal kit Blue Apron Knick Knacks Kroger expands Home Chef November - Offers customization online HelloFresh holiday meal kits Sun Basket adds Carb- June Conscious line HelloFresh launches retail with Ahold/Delhaize Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The 8 WHERE ARE WE NOW? This artwork was created using Nielsen data. Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Do not distribute. 9 MEAL KITS: 36% GROWTH IN JUST UNDER A YEAR 12% 23% of total consumers have of total consumers would purchased a meal kit in last consider trying a kit in next six months six months 14.3M HOUSEHOLDS 27.6M HOUSEHOLDS 2019: 9% 2019: 25% Additional 3.8M households purchasing meal kits Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 and November 30-December 25, 2017; U.S. Census 120M Households December 2017 10 CONSUMERS SHIFTING INTO IN-STORE PURCHASE Meal Kit User Types 8% 2017 32% 2018 60% In-Store meal kit users accounted for nearly 60% of growth Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 and November 30-December 25, 2017; U.S. Census 120M Households December 2017 11 EVOLUTION OCCURRING IN WHO’S PURCHASING Online In Store $100K+: 44%; +6.1 $100K+: 28%; +9.0 INCOME $70-99K: 19%; -0.4 $70-99K: 15%; +2.7 $50K-70K: 13%; -2.1 $50K-70K: 13%; +0.2 35-44: 29%; +4.3 35-44: 27%; +9.2 AGE 25-34: 27%; -2.7 25-34: 21%; +2.8 45-54: 18%; -2.8 45-54: 20%; -7.0 Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 and November 30-December 25, 2017 12 IN-STORE GROWTH A REALITY 2018 Sales % Change Prior Year $93M +51% 7.3M Units +42% Source: Nielsen Total Store View, Total U.S. xAOC 52 Weeks Ending 12/29/18, UPC and random-weight/Non-UPC coded product Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The 13 MEAL KIT USERS SPEND DIFFERENTLY Average Consumer In-Store Meal Kit Buyer Online Meal Kit Buyer Total Food $3,080 $3,232 $3,070 Meat $389 $378 $360 Source: Nielsen Homescan Panel, Meal Kit Survey, Total Year 2018 Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The 14 MEAT A CRITICAL COMPONENT OF KITS 87% of in-store meal kits have meat 74% satisfied with fresh Beef +29% meat packaging 52% All Other 13% Meat Pork +21% 17% 61% 87% Chicken +316% satisfied with regular 16% (i.e. not organic) meat All Other +748% 2% Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Nielsen Total Store View, Total U.S. xAOC 52 Weeks Ending 12/29/18, UPC and random-weight/Non-UPC coded product 15 SEAFOOD A GROWING OPPORTUNITY In-store meal kits Pizza -7% 5% 27% Meat All Other eat seafood more 87% Seafood +518% 13% 4% often with a kit Vegetarian +211% 3% Other 1% +89% Source: Nielsen Homescan Panel Custom Survey, October 22-November 12 Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Nielsen Total Store View, Total U.S. xAOC 52 Weeks Ending 12/29/18, UPC and random-weight/Non-UPC coded product 16 CONSUMER MAKEUP IS CHANGING And will continue to do so 2014 2060 46 million 75 million +64% 20 million 49 million +143% 55 million 118 million +115% NON-HISPANIC WHITE: - 8% Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: U.S. Census 17 IMPORTANT TO DELIGHT THEIR TASTEBUDS In-store meal kits American 79% of sales +31% Asian 72% 8% of sales enables me to +342% try new recipes Mexican/Latin 72% 6% of sales allows me to try +101% Italian different ethnic foods 5% of sales +717% Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Nielsen Total Store View, Total U.S. xAOC 52 Weeks Ending 12/29/18, UPC and random-weight/Non-UPC coded product 18 HEALTH PERCEPTION FOR MEAL KITS In-Store Foodservice 55% 43% meal kits are meal kits are $19.9B healthier than healthier than prepared food prepared food from from restaurant grocery store +7.2% Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Nielsen Total Store View, Total U.S. xAOC 52 Weeks Ending 11/24/18, UPC and random-weight/Non-UPC coded product 19 HEALTHY OPTIONS IMPORTANT TO CONSUMERS How has listing calorie information for fresh prepared foods impacted your purchase intent? 72% of Americans say they try No change to purchase of fresh prepared foods to eat healthy, but can’t always do it Purchased healthier fresh prepared foods I have not noticed any calorie information listed for fresh prepared foods Purchased fresh prepared 76% foods at grocery stores important that a meal kit more often has healthy recipes Purchased fresh prepared foods at grocery stores less often Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: Homescan Panel Omnibus September 2018; Nielsen Health Shopper Survey 2018; Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 20 REINVIGORATION OF OLD STANDBY’S Frozen Shelf-Stable Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The 21 MEAL STARTER KITS Meal Starter Kit Definition PURCHASE MEAL A meal starter kit is a product where you would STARTER KITS still have to purchase the fresh ingredients, typically meat, produce and/or diary to complete Total Respondents: 6% the meal. They can be refrigerated or able to be • Online Meal Kit Users: 9% stored in your pantry/cupboards and most • In-Store Meal Kit Users: 25% commonly provide starch (pasta, rice, grain, tortillas) with spices or sauce. Meal kit buyers more likely to engage with meal starter kits Copyright © 2019 The Nielsen Company (US), LLC. Confidential and proprietary. Confidential LLC. and not 2019 proprietary. © distribute. Do (US), Copyright Company Nielsen The Source: Nielsen Homescan Panel Custom Survey, October 22-November 12, 2018 22 BIG SALES WITH SPECIFIC GROWTH SECTORS Meal Starter Kits Performance What’s Driving Growth? Breakfast $494M Global Flavors +4.5% Nielsen Total Store View, Total U.S.
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