Finance

Walmart is now in the meal kit business rocking rivals

Walmart is now in the meal kit business rocking rivals

By the end of 2018, the company hopes to have them available in over 2,000 stores. The retail giant will now be offering meal kits and simpler "one-step meals" in over 250 stores. These meal kit programs often require subscriptions, since frequent purchases are needed to manage their business model. However, a noted problem within the industry has been maintaining the attention of these subscribers. The company will also introduce United States dollars 15 meal-kit options in store, a product that was previously available exclusively online. "We're here to help", Tyler Lehr, senior vice president and general merchandise manager, Deli Services, Walmart U.S. said in a statement on Monday. To make it better, you'll have the option to pick them through the company's Online Grocery Pickup service as well.

This move by Walmart is also working to keep up with its bitter rival Amazon.com Inc.

Walmart's grocery business is threatened by Amazon, who acquired Whole Foods, discounter Aldi and meal-kit provider Blue Apron.

Blue Apron opened a bit lower than Friday's close of $2.74 a share.

Walmart's meal-kit line will be up against Blue Apron, which went public in June, and Amazon also started selling similar meals last July.