‘It’s clear shoppers are looking for new ways to save’

Founded in 2018 and headquartered in Philadelphia, Misfits Market — which has raised more than $525m in funding — has been on an upward trajectory, growing distribution to the lower 48 states and its product assortment from ‘rescued’ (ie surplus items or food that doesn’t meet retailers’ cosmetic standards) produces to over 500 products spanning several categories including meat, seafood, plant-based proteins, dairy, bakery items, wine, and other grocery items.

Misfits Market customers can build their own custom box of items ($30 minimum order), which are delivered weekly (with the option to pause or skip an order within 2-3 days of placing an order).

To date, Misfits Market has delivered nearly 13 million orders and rescued more than 230 million pounds of food and in Q1 2022 experienced “record-breaking”growth as it expanded nationwide.

According to the company’s 2021 annual report​, nearly 35% of food produced in the US goes unsold or uneaten costing the food industry $250bn in losses greatly impacting farmers, manufacturers, restaurants, and other stakeholders. However, rescuing food can have a huge impact: in 2021, rescuing or upcycling food drove close to $90m in revenue for farmers and suppliers, according to Misfits Market’s internal data.

In 2021 alone, Misfits Market was able to save 5.6 million pounds of broccoli, 3.4 million pounds of apples, and 1.4m pounds of zucchini from going to waste.

‘It’s clear that shoppers are looking for new ways to save’

The introduction of its private label ‘Odds & Ends’ is the next step in the company’s journey to provide customers with accessible and affordable options (40% below traditional grocery prices, the company claimed) to supplement their weekly grocery trip, the company noted, and comes at a pivotal time as food costs have risen 10% vs. one year ago​, according to the latest figures Consumer Price Index.

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