NOTE: Bloomberg Second Measure launched a new and exclusive transaction dataset in July 2022. Our data continues to be broadly representative of U.S. consumers. As a result of this panel change, however, we recommend using only the latest posts in assessing metrics, and do not support referring to historical blog posts to infer period-over-period comparisons.
In the months before their Series C, Munchery acquired a large number of low-quality customers. While this doubled their customer base, revenue increased just 30%.
The impact on Munchery’s numbers was profound:
- Monthly revenue per customer dropped from $75 to $53
- Month-over-month retention dropped from 56% to 38%
Comparing the newly-acquired customers to prior cohorts:
- First-month spend dropped from $45 to less than $25
- One-month churn increased from 65% to nearly 80%
Check out Munchery’s latest numbers or see how other businesses are changing by requesting access to Second Measure.