E-grocer Misfits Market has launched its first-ever private label line, Odds & Ends, consisting of such pantry staples as coffee, nuts, dried fruit, and dark chocolate-covered mini pretzels. Misfits designed the product line to address supply chain inefficiencies by working directly with farmers and producers that share its vision of eliminating waste while delivering quality products at affordable prices.
For example, the new direct-trade premium coffee blend features beans that typically wouldn’t have a direct path to market. Due to a range of factors – lot size and processing among them – the coffee would otherwise be sold using differential pricing that’s vulnerable to volatility in the commodity market. By paying fixed, stable prices, Misfits helps shield the growers from potentially harmful market volatility and ensure that they don’t have to sell the beans at a loss.
“Three years ago, Misfits Market set out to rebuild the food supply chain from scratch in order to provide everyone, regardless of where they live, access to quality food at an affordable price,” noted Abhi Ramesh, CEO and Founder of Delanco, N.J.-based Misfits. “After a record-breaking quarter, it’s clear that shoppers are looking for new ways to save, especially with food prices at all-time highs. Our value-conscious customers are saving an average of $25 per order, and with the launch of our new private label line, we’re excited to provide our customers with an even wider variety of affordable and sustainably sourced pantry staples.”
As its private label offering expands, the company will continue to look at different ways to deliver quality at a value, among them sourcing products from lesser-known regions, upcycling uneven or misshapen foods into new products or blends, or working with producers to employ more creative and sustainable practices and packaging.
According to the company, with consumer prices rising 8.5% over the past year and food costs soaring to their highest levels in a decade, Misfits’ food value supply chain and opportunistic sourcing enables it to combat higher food prices and more efficiently provide organic produce, high-quality meats and seafood, plant-based proteins, dairy, bakery, wine, and other grocery items, all at up to 40% off traditional grocery store prices. In keeping with this strategy, the Odds & Ends line will enable the grocer’s customers to have value-priced essentials delivered directly to their homes.
To date, Misfits has sent out nearly 13 million orders and rescued more than 230 million pounds of food. In its first quarter alone, the company saw record-breaking growth fueled by expansion to all of the lower 48 states, entering new product categories such as wine and releasing a mobile app. Misfits has also raised more than $525 million in funding.