Last year was a banner year for Misfits Market. The Pennsauken Township, N.J.-based company recapped its 2022 performance in a recently-released annual report, which also looked ahead to new opportunities and growth.
As a young company, founded four years ago, Misfits Market made some big moves last year. Chief among them was the September acquisition of Imperfect Foods of San Francisco, another online grocer keen on reducing food waste.
Misfits Market also added to its portfolio, launching a private label line called Odds & Ends featuring products such as nuts, oils and tomato sauces, and adding dairy, wine and eggs to its offerings. Recently, the company began rescuing conventional produce as well as imperfect produce. In all, the company reported it brought 1,500 new products and 300 brands to its assortment in 2022.
From a service perspective, the company introduced a loyalty program, Misfits Perks, aimed at helping members score discounts and free products. Now combined with Imperfect Foods, Misfits Market is also working to improve food equity and accessibility by expanding into “nearly every zip code” in the U.S.
Looking inward to make sustainability improvements, Misfits Market teamed up with a group called Watershed last year to measure its carbon footprint and take steps to reduce it. The company’s mission to curb food waste was evident in its rescue of 55 million pounds of food last year. Since it was established in 2018, Misfits Market has rescued more than 278 million pounds of food.
The company isn’t letting any proverbial grass grow under its feet as it scales up for another busy year with new partners and goals. “In 2023 and beyond, we’ll continue to challenge the traditional way of shopping for groceries. We’ll find more ways to expand accessibility, more ways to offer affordable groceries, and more ways to fight food waste along the way,” the report concludes.