Hellofresh Post Pandemic Market Analysis

This report analyzes the sustainability of Hellofresh's profitability in the post pandemic market using PESTLE and SWOT models. The report identifies key issues such as political, economic, social, technological, legal, and environmental factors that may affect the organization's performance. The report also provides recommendations to improve the organization's performance.

CASE STUDY
ANALYSIS

EXECUTIVE SUMMARY
In this research was aimed to figure out sort of notions that Hellofresh company which is
meal kit provider organization and had been one of the top entities in its industry. The company
is working in around 14 nations. For so long it was not able to generate sufficient profits but
Covid-19 has come as a boon and offered it, better circumstances which ultimately resulted
higher profits. So now the organization is having a concern that would it be able to keep its
performance same even in post pandemic market.
In this report the problem has been addressed using secondary sources of data into focus.
At the same time some models and theories such as PESTLE and SWOT were applied to
decipher organizational problems and relevant circumstances.
At the end, it was found that the fact can not be nullified there are number of issues
before it yet with better installation of some favourable practise the organization can generate
profits even after Covid-19. Pertaining to this, some recommendations were extended and best fit
is suggested for further research.

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................2
EXECUTIVE SUMMARY.............................................................................................................4
INTRODUCTION...........................................................................................................................4
CASE BRIEF: DESCRIPTION OF THE SITUATION..................................................................5
PROBLEM STATEMENT, PLAN OF ANALYSIS......................................................................6
Problem statement........................................................................................................................6
Proposed plan of analysis-...........................................................................................................6
Literature Review-.......................................................................................................................7
ANALYSIS & FINDINGS..............................................................................................................8
PESTLE Analysis-.......................................................................................................................8
SWOT analysis-...........................................................................................................................9
PROPOSED SOLUTION TO PROBLEM....................................................................................11
Generation of ideas....................................................................................................................11
Best fit solution..........................................................................................................................11
Recommendations......................................................................................................................12
Action plan of limitations of the study......................................................................................12
REFERENCES..............................................................................................................................14

EXECUTIVE SUMMARY
In this research was aimed to figure out sort of notions that Hellofresh company which is
meal kit provider organization and had been one of the top entities in its industry. The company
is working in around 14 nations. For so long it was not able to generate sufficient profits but
Covid-19 has come as a boon and offered it, better circumstances which ultimately resulted
higher profits. So now the organization is having a concern that would it be able to keep its
performance same even in post pandemic market.
In this report the problem has been addressed using secondary sources of data into focus.
At the same time some models and theories such as PESTLE and SWOT were applied to
decipher organizational problems and relevant circumstances.
At the end, it was found that the fact can not be nullified there are number of issues
before it yet with better installation of some favourable practise the organization can generate
profits even after Covid-19. Pertaining to this, some recommendations were extended and best fit
is suggested for further research.
INTRODUCTION
The problem statement is “Would Hellofresh company be able to make profits in the
post Covid-19 market”. The problem which is undertaken in this report is that Hellofresh
organization would remain lucrative or profit generating in the post pandemic market. Hellofresh
is quite famous and has been on the top of the companies working in its industry, but form last
couple of years it was generating negative EBIT. Whatsoever, pandemic took place and opened
the window of break through which made it lucrative (Liang, et al. 2020)
The main aim of this research is “to investigate the performance of the organization in
post pandemic circumstances”. The organization which was generating losses came into
positive side just due to pandemics, so there is need to make strong contemplation that the same
growth or profitability can be expected in the future (Hosseinalizadeh, Jabbari and Haghlesan,
2018)
In this report number of objectives are to be covered such as-
 To know that how the organizational performance would get affected in the post
pandemic market.
 To figure out that would this market favour the performance.
 To evaluate the sustainability with respect to the organization.

 The sustainability regarding actions the organization is taking would be sufficed for its
own survival in market (Shams, Nobakht Nejat and Amiri, 2018)
 To suggest that what could be some areas to make improvement in order to eradicate
malpractices and brining higher profitability etc.
In the rest of the report the case description will be presented stating all key areas of this
case study, at the same time the problems statement and plan for making analysis shall be taken
into consideration, where some techniques are to be taken into focus (Kazemiyeh, Sadighi, and
Chizari, 2018) Then the report would represent analysis and findings from the evaluation made.
At the end, some suggestions would be extended in order to help the organization making its
position stronger and also striving to keep its profitability alive in post pandemic market.
CASE BRIEF: DESCRIPTION OF THE SITUATION
The taken case is about HELLOFRESH, it is an organization engaged in meal kit home
deliveries business. It has been one of the top organization when it comes to meal kits in the
world, but the circumstances got changed in last couple of years, which not only affected its
ability to generate revenues but also affected the ability of widening diaspora.
In this case Hellofresh organization is taken which was not performing good form last
couple of years but Covid-19 came as a boon and kicked off the profit generating ability of this
organization. EBITDA of the entity had been -86.2, -80.7, -69.5 million EUR form the year 2016
to 2018 but it came in positive in the year 2019. The pandemics offered a wide window of
opportunities to this organization which made it thrive (Christodoulou, and Cullinane, 2019)
This all happened due to some circumstances such as, in the pandemics it became quite
lethal for people to make visit of stores or mega shopping malls so the best alternative was to buy
food items form online stores. At the same time the second most affective thing was ability of
Hellofresh to provide healthy and fresh mean kits to its clients which made it number one
preference for people.
The case is aiming to figure out weather the organization would be able to keep its
position lucrative post Covid-19. Since all the above discussed positives took place in the
pandemics which came into existence due to circumstances reflected by Covid-19 (Achinas, et
al. 2019) but it would not be remained same in the upcoming time, and as it was seen that the
organization was not able to generate profits form last couple of years in normal predicaments so
it would not be unfair to say that it will be affected in the post pandemic market.

PROBLEM STATEMENT, PLAN OF ANALYSIS
As it was seen that the organization is making good profit in the present scenario but this
all is happening due to prevailing market or business environmental circumstances which are
supposed to get perished in the upcoming time.
Problem statement
The problem statement was about sustainability of the organization and would it be able
to perform as good as now it is doing despite the fact that post pandemic circumstances are quite
drastic and unfavourable for the industry it is operating in (Nandonde, 2019) There has been
range of issues but some key problems which are before the entity and may drag its positive
performance to darker side are as-
 One of the biggest issue would be buying behaviour of customers. Since, after
pandemic they are less likely to use such non home made products.
 The organization is getting expanded and now getting operated in around 14
countries, keeping USA as its biggest market, so political issues would be placing
severe challenges.
 The environmental promises Hellofresh is making, it will be a mammoth
challenge for it to make this promise happened (AKMAN, 2020)
 Customer relationship management is a must need in the present scenario so
maintaining quality and its customer may be proven as a bid challenge.
 Due to hyper expansion the organization is notching up its presence in a range of
markets. With this regard it would be a big jeopardy to align with the global
political factors (Rattani, 2018)
 The modern market is free to make entry and exit, in the past organization curbed
its competitors but seeking its profitability there would be new entrants in the
market with new set of challenges.
 Socio and cultural factors which are having potential to disrupt the plan and may
put road blocks on the way of Hellofresh.
Proposed plan of analysis-
To carry out analysis of the case study of Hellofresh organization, a well-structured
approach is being taken into consideration. From making deeper analysis of the problem's

mentioned above it can be deciphered that there is need to use some models to reflect the exact
picture of Hellofresh (Colombo, Pansera and Owen, 2019)
The taken case study is “Critical Instance case study” where a few sites of certain case
has been taken into focus and on its basis generalization is being executed. So for such analysis
these steps are to be followed-
 Reading and examining case thoroughly.
 Focusing on the key problems.
 Uncovering potential solutions (Nastar, 2020)
 Recommending the best solutions to the organization.
With this regard, a literature review is to be made, where all key dimensions of the case
are to be evaluated to the fullest extend. At the same time, for the purpose of analysing the case
PESTLE model is being used (Came and Kidd, 2020)
PESTLE is the model which is used to analyse external factors which affect the
performance of an organization. This model is very helpful to see all external dimensions which
may affect the performance of an organization. Here, salient components such as Political,
Economical, Social, Technological, Legal and Environmental factors are being considered.
At the same time for carrying out evaluation of the issues, SWOT analysis would be
applied, which aids to decipher internal environment of an organization. Where Strengths,
weaknesses, opportunities and prevailing Threats are being examined (Davison, 2021)
For analysing the case study secondary data sets are to be used. Research is an essential
part of a case study. With this regard, the financial statements, some reports published by
different authentic sources is supposed to be taken. For this case study “Secondary data based
Research Model” is being chosen. While using secondary data some essential realms are to be
accentuated such as the authenticity, relevancy and reliability in order to present best piece of
study (Katte, 2019)
Under this model, only those data or information are used which are collected or used by
other parties already. While executing the research a fully fledged plan is to be enforced where
all major components and their potential impacts on the organization are supposed to be spilled.
Literature Review-
As (Vicén Sampériz, 2020) suggested that the performance of the organization can not be
called satisfactory since the boost up it is showing only came due to certain causes, so for an

organization operating in the global market can not rely on such incidents to get heights in
market.
The efficiency of Hellofresh has been under suspense, as it can be seen the cost of goods
sold has been -257.3, -365.8, -475.6 EUR form the year 2016 to 2018. The entity only showed
profits in the year 2020. All the earned profit for the year has been 180.60 EUR. This is clear
evidence that the prevailing predicaments supported it to get a jump but can not expect the same.
Contrasting the above statement (Bauer, 2020) said that the success of Hellofresh should
not be seen as only an outcome of Covid-19 outbreak, which has been in favour of it, but there is
need to perceive the trends and efforts of the organization. Besides the fact that it was not
generating positive EBIT yet from last couple of years the efforts made by entity has been quite
drastic. In the year 2015 the organization raised the notion to be an international brand it made
all its efforts (Hailikari, Katajavuori and Asikainen, 2021)
(Cameron, 2019) argued that the vision of Hellofresh has always been in favour of the
modern business environment. From the year 2012 it started widening its wings, even in the year
2018 and 2019 it penetrated France, New Zealand, Sweden. These actions paved way to get
thrived in such a competitive market.
One most crucial action should not be forgotten. From last couple of years the marketing
efforts are severely poor. The organization reduced its marketing efforts and it has been -157.4, -
239.7 for the year 2016 and 2017 (Richards and Pilcher, 2020) In the present market an
organization can not expect better performance with its poor approach to marketing.
ANALYSIS & FINDINGS
PESTLE Analysis-
So to analyse the problems of the organization PESTLE model is being applied.
Components Particulars
Political factors The political factors would be placing greater challenges. In the
pandemic the organization was able to conduct its business efficiently.
Post pandemic markets are recovering quite fast so the political outbreak
may be seen (Mukingambeho, et al. 2019)
The company is running its business in UK, Germany, Australia, Austria,
Belgium, Denmark etc. so range of political realms would be affecting its

operations. The prices of its stock fall at 6% by some announcement
made by US NIA.
Economic factors The world economy is now experiencing good growth, so people are
more likely to spend on food items. But there is one severe issue of
supply chain. Hellofresh is known for the fresh meal kit it provides to its
clients but it would be simpler in the present scenario. In December 2021,
USA also experienced Supply chain crisis. So it would be placing greater
challenges (Al-Husban, 2020)
Social and cultural
factors
In the post Covid-19 market, people are more likely to cook meal at
home. Now people are prone to cook herself and want to avoid eating
outside prepared food. It may place a big challenge so with this regard the
organization may face perils. In lockdown, it went up from 2.48 to 4.18
million customers, but can not expect the same.
Technological
factors
In the pandemic, the internet users has grown to around 62% of the
overall population. Technology is also offering opportunities to its
competitors. It would not be simpler to align with technological up-
gradation.
Environment factors As Hellofresh became first its type of company who promised to provide
environment friendly packaging. It even strives to reduce carbon
emission but these elements are expensive and being the organization
faced hyper losses in past it would not be a simple journey (Alshare and
Sewailem, 2018) Online users are also growing so their management
would be another issue.
Legal factors The business is getting expanded but at present scenario global political
environment is not much established, so it may be expected that there
would be range of legal factors which may place radical challenges
before the organization. The biggest market is still US for Hellofresh so
the new food security policy FY 2022 – 2026 may place some issues
before it (Felicia, 2022)

SWOT analysis-
For evaluating internal circumstances of the taken entity SWOT analysis is being carried out as-
Strengths:
 The biggest strength of the company is its approach toward future, the organization is
continuously keeping goal to hike growth and expansion objective, form 2011 to 2019 it
has expanded its business in many nations (ADAMU, et al. 2022)
 Form the year 2015 to 2020 it has created new brands which will give it upper hand.
 Ability to made partnership such as partnership with “Ahold Delhaize” has made its
presence wider (Abdolkarimi and Babaei Fallah, 2021)
 It is good at coordination, even won the award in the year 2018 for The Industrial
Excellence Award Europe.
Weaknesses:
 The hyper success came due to covid-19 outbreak so on the basis of its performance in
last tow to three years can not expect hyper profits in upcoming time.
 The market share of the organization is still quite small (Talak, 2021)
 Big premisses are made along with sort of less feasible targets which may results perils.
 Due to over generation of losses the internal finance management is needed to work on.
Opportunities:
 The retail industry is supposed to get expanded to around 12.9 Trillion USD by the year
2023 (Lorenzo, et al. 2021)
 With the progress of time, more people are coming on social media platform so it offers a
wide market to serve.
 In the market by the policy of collaboration it has wiped out its present competitors so
there is not threat in short term.
Threats:
 There is a big challenge of competition in the market.
 By just sustainability related appeal it would not be able to meet its needs.
 The organization has made higher promises which would come up with severe challenges
(Chib, Alvarez, and Todorovic, 2021)
 Due to wider presence the political outbreaks are supposed to bring mammoth
catastrophe to the organization (Sharma, et al. 2021)

Form the models and theories applied above it is found that Hellofresh is now in such a
strong position and with sort of appropriate actions it can eradicate its key issues prevailing in
market. Furthermore, these betterments intended steps would incentivize Hellofresh to perform
better and keeping its position alive, profitable, lucrative and sustained.
By making secondary research it was also revealed that the food market is going to get
expanded by the year 2023, there will be a big boom so if the entity takes proper steps to make
these circumstances favourable then may go for curbing bigger profits (An, et al. 2019)
PROPOSED SOLUTION TO PROBLEM
Generation of ideas
There are multiple solutions to eradicate the present issues, since the organization is now
having good state both in term of performance and market circumstances. There is need to
address all potential bottlenecks so can pave the way for better performance in the upcoming
time.
 The organization may go for hyper marketing efforts so can transmit its idea to its
targeted customers and market.
 For hiking sustainability there is need to fabricate a sustainable plane abiding with all the
affective dynamics.
 To hike its market share may go for IPO which was planned in the year 2017, it would be
helpful to arrange more funds (Vos, McDermott, and Swinnen, 2022)
 One of the best alternative is to make a long term strategy where all key components are
to be considered such as vision of providing food on cheaper prices, hiking partnerships,
eradicating wastage of food etc. Keeping long term perspective in mind.
 For short-while intensive efforts of digital marketing may drive better profitability to the
organization.
Best fit solution
Keeping the all available alternatives into consideration. It was found that the best fit
strategy would be fabrication of a long term strategy. The company is supposed to soar its
market share then only would be able to notch up higher profits (Czerny, et al. 2021)
There are number of areas where it is having need to work upon. So, a long term policy is
needed. The organization is very much sanguine and having vision to be in budget, expanded,
best brand etc.

The anticipation is being made that the market of food will be growing with faster rate, so
by the year 2023 there will be hyper need of such service providers. On the other hand, with the
progress of time, technological tools are also getting augmented which offer wider scope of
making progress (Nandi, et al. 2021)
So by evaluating all above suggested alternatives it can be summarized that the best fit
solution is to have Long termed strategy. It will make the firm able to generate profits even in
post pandemic era.
Recommendations
There are some recommendations to the entity for making its operations better. There is
need to diversify the business model. It is investing a lot but due to lack of long term vision sort
of jeopardies is taking place.
On the other hands, the marketing expenditures are also quite less, there is further need of
investing bigger amount in marketing. It will support this business to extend its side to potential
customers (Jiang, 2020)
By drafting intensive efforts to only sustainability like Avoiding plastic or polluting
packaging, providing meal on cheaper prices, reducing carbon emission, reducing food waste etc.
The organization is suggested to keep a holistic approach so can make itself thrive.
Action plan of limitations of the study
Problems or limitations-
The case study has been studied and analysed with the best efforts yet there has been
some limitations such as having limitation of time, resources, only two models were applied,
only secondary data research was applied (Comanescu, 2021)
Prioritizing problems-
There is need to work on the available data and other information. There is great scope of
further study to make scrutiny of some drastic matters. It would be helpful to make this study
more viable and advantageous.
SMART goals-
For hiking the outcomes of such research there is need to articulate SMART goals. If the
entire study is being proceeded with pre-intended steps then would be helpful to explore more
and deeper (Kotler, Kartajaya and Alaydrus, 2021)
Scope for further research-

In this research only secondary data are used and on the basis of secondary data some
models were applied and final outcomes were drowned. So with this regard, the research is still
having wide scope to come up with better research plan.
Review mechanism-
For making the research outcomes drastic and more useful, there is need to have a review
mechanism which can support the research to timely evaluate its work and making needful
changes to surge outcomes.

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APPENDIX
Group
31 Dec
16
31 Dec
17
31 Dec
18
31 Dec
19
30 Jun
20
Revenue* 597 904.9 1279.2 1809 1671.2
Procurement
expenses/COGS*
-257.3 -365.8 -475.6 -640.5 -582.8
% of revenue -
43.10%
-
40.40%
-37.20% -
35.40%
-34.90%
Fulfilment expenses* -238.4 -332.2 -454.3 -652 -634.7
% of revenue -
39.90%
-
36.70%
-35.50% -36% -38.00%
Contribution margin* 101.3 206.8 349.3 516.5 453.7
% of revenue 17% 23% 27.40% 28.70% 27.30%
Marketing expenses* -157.4 -239.7 -330.1 -405.2 -202.3
% of revenue -
26.40%
-
26.50%
-25.80% -
22.34%
-12.10%
General and
administrative
expenses*
-34.3 -55.9 -102 -137.1 -70.8
Operating profit/ (loss) * -90.5 -88.8 -82.80 -25.80 180.60
Depreciation and
amortization*
4.3 8.1 13.3 41.5 22.1
EBITDA* -86.2 -80.7 -69.5 15.7 202.7
Special items* 3.6 10.6 1.6 12 2.2
Share-based
compensation*
expenses*
5.3 7.8 13.4 18.8 11.80
Adjusted EBITDA* -82.6 -70.1 -54.5 46.5 216.7
Group
2017
Q1 Q2 Q3 Q
2018
Q1 Q2 Q3 Q
2019
Q1 Q2 Q3 Q

4 4
Active Customers* 1.16 1.25 1.28 1
.
4
5
1.88 1.84 1.84 2
.
0
4
2.48 2.41 2.61 2
Number of orders* 4.2 4.67 4.6 5
.
4
2
6.6 6.7 6.34 7
.
4
2
8.88 8.93 9.11 1
Orders per customer 3.62 3.7 3.63 3
.
7
5
3.52 3.6 3.5 3
.
6
3.6 3.7 3.5 3
Meals* 30.6 33.7 33.7 3
9
.
4
6
48.3 48.9 46.5 5
4
.
7
65.6 67 68.9 7
Average order
value (EUR) 48.8 49.3 46.484
6
.
6
2
44.7 47.5 47.5 4
8
.
6
47.1 48.8 48.3 4
Average order value
constant currency
(EUR)
48.8 49.3 48.474
9
.
5
2
49.7 50.6 48.1 4
8
.
6
47.1 48.8 47.2 4