Shares of Beyond Meat (BYND Stock Report) climbed 5.28% on Thursday. This came after the plant-based meat company launched a new e-commerce site to increase its online presence. Despite many alternative meat companies like OmniPork making a name among consumers, BYND stock remains the only tradable company in the stock market. And if you are hopeful with the plant-based meat industry, is BYND stock your single best investment now?The New Online Store Could Act As A Catalyst For BYND Stock’s Growth
The new direct to consumer portal would include it’s signature alternative-meat products and new bulk packs and product bundles, as well as trial sizes and limited-time offers and have them delivered within two days. Beyond Meat’s shipping boxes are also recyclable and will be sent via United Parcel Service (UPS Stock Report) carbon-neutral shipping. This could appeal to Beyond Meat’s customers, who are likely to have higher environmental awareness in comparison with others.
Of course, ordering meat by mail is not a revolutionary thing. The move to shift into e-commerce is essential, as much of the rest of the retail market; is shifting online. Beyond Meat certainly is well aware of this.
It is only natural for the company to go online where many of their clients love to shop. If anything, it appears Beyond is somewhat late to the party in setting up its online store.
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Beyond Meat may be a provider of plant-based meat proxies for restaurants, but the major components of its revenue come from partnerships with major retailers like Walmart (WMT Stock Report) and Target (TGT Stock Report), just to name a few. This quickly increased its exposure to mainstream consumers.
On the other hand, the company’s partnership with fast-food chains like Starbucks (SBUX Stock Report) and Yum China (YUMC Stock Report) is the more proactive approach to get consumers to slowly accept the plant-based meat. Of course, restaurant chains in the US are still feeling the impact of the pandemic. Many aren’t operating close to pre-pandemic levels just yet. After all, social distancing measures have limited the number of patrons who can dine in.What To Expect From BYND Stock
It appears we could continue to expect high demand for plant-based food as the supply chain for meat has yet to recover fully. We can’t say for sure if the trend of people stocking up Beyond Meat is sustainable. After all, some of the hype during the first few months of the company going public appeared to have been overdone. The reality is, many consumers are still sticking with conventional meat.
Besides, plant-based meat doesn’t necessarily have the most competitive pricing. Some consumers might take the leap to try plant-based meat and end up liking it in the longer term. Of course, the second-quarter results have been strong. Coupled with market expansion exercises, BYND stock is definitely worth a look in the long run.