Advertise with fastmoving.co.za
 
 

Amazon has found a way to further expand its foothold in the grocery industry.
Amazon has found a way to further expand its foothold in the grocery industry.

Amazon sets sights on new retail segment

INTERNATIONAL NEWS

By Deena M. Amato-McCoy - Jul 18th 2017, 09:06

The online giant has submitted a trademark application that will enable it to enter the meal kits business. The move will directly rival meal kit provider Blue Apron, according to CNBC. 

According to a filing with the U.S. Patent and Trademark Office on July 6, the company registered a trademark for the slogan, "We do the prep. You be the chef." The slogan refers to "prepared food kits," composed of “meat, poultry, seafood, produce, sauce and seasonings" as well as "frozen, prepared, and packaged meals," which also includes salads, soups, grains, rice, noodles, pasta and bakery products, according to USA Today.

The filing comes on the heels of Amazon’s announcement in June that it plans to purchase Whole Foods for $13.7 billion. By making a play for the prepared food kits segment, the online giant is preparing to grab its share of the growing $2.2 billion meal kits business, USA Today reported.

This isn’t Amazon’s first try at meal kits. Though its Amazon Fresh service, shoppers can order fresh meal kits. However, this assortment is not branded, according to CNBC.

The announcement had an immediate effect on Blue Apron. First, the company garnered less-than-stellar interest upon announcing its initial public offering in late June (selling at $10 per share). Amazon’s trademark announcement took a toll on Blue Apron’s stock in early trading on Monday, July 17, when the prepared food kit provider’s stock tumbled more than 7%, hitting an all-time-low and dropping below the $7 mark, CNBC ’s report said.
© 2017 Chain Store Age. All Rights Reserved 

Read more about: whole foods | retail | amazon |

Related News

Brands leave R34 bn in lost sales on the e-commerce table - report
22/09/2019 - 13:19
By 2021, over 20-million South Africans will shop online.

Flipkart and Amazon pull listings for vaping products
22/09/2019 - 13:02
Amazon.com, Walmart-owned Flipkart and other e-commerce portals in India scrambled to remove listings of vaping products a day after the federal government imposed a nationwide ban on electronic cigarettes.

Retail sales remain muted with consumers under pressure
20/09/2019 - 14:31
Retail sales for July marginally declined to 2 percent year on year as sales growth continued to reflect a muted demand in South Africa, with consumers’ discretionary income under strain.

Pick n Pay rolls out R4 lifetime reusable bag made from recycled plastic bottles
20/09/2019 - 14:14
Pick n Pay is rolling out its new budget green People n Planet reusable bag nationally after a successful trial with customers earlier this year. The bag is expected to be in all stores by mid-October.

Zara launches online store in South Africa
19/09/2019 - 11:58
Zara has launched its online sales in SA through its dedicated website zara.com/za. This marks an important milestone in the expansion of Zara’s integrated store and online platform into markets where it already has a store presence.