Dive Brief:
Meal kit seller Blue Apron posted a 22% year-over-year increase in revenue during the fourth quarter of 2020, to $115.5 million, as the value of the average order rose to $61, its highest level since 2015, the company reported Thursday. Blue Apron posted a net loss of $11.9 million in Q4, an improvement from the $21.9 million it lost during the same period in 2019.
The company expects to generate double-digit revenue growth and intends to boost spending on marketing in 2021, Chief Financial Officer Randy Greben said during an earnings call. Demand for meal kits during Q4 was driven by more expensive meal offerings, Greben said.