Walmart and Amazon Compete for the $5 Billion Meal-Kit Market That's Slipping Away From Blue Apron
Walmart (NYSE: WMT) was either bored or feeling left out. The retailer, which has been fighting to compete with Amazon in online sales, has officially started selling meal kits. This comes after Amazon (NASDAQ: AMZN) bought Whole Foods in June and began selling meal kits shortly after.
The move also comes after the embarrassing IPO of Blue Apron (NYSE: APRN) in July in which shares briefly hit $11 before steadily declining to $4.27 as of Tuesday morning.
The meal-kit delivery business seems fun on the surface. But in reality, it's a low margin, highly competitive market, and Walmart is late to the game.
Source: Fool.com
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