Meal kit provider HelloFresh New Zealand has reported a steep decline in profit and revenue, as the business faces continually shrinking results post-pandemic.

HelloFresh reported revenue of $117.8 million in the 12 months to December 31, 2024, a drop of 18.8 percent or $27.3 million from $145.1 million in 2023.

University of Canterbury marketing professor Ekant Veer says the cost of living crisis and rising inflation has made customers overlook the initial convenience. 

"Meal kits offer that convenience - and they're really targeted at people who are a bit time-poor and needed something quick and easy to put together. When people are now getting monetarily poor...they're realising that the convenience isn't as useful."

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