Prompt Cast
Luke's Lobster Overcomes Pandemic Challenges
TLDR Luke's Lobster faced challenges during the pandemic, leading to pivots in their business focus, including shifting to direct-to-consumer sales and e-commerce. They had to adapt by diversifying revenue streams, expanding e-commerce offerings, and addressing sustainability certification issues amidst federal laws impacting Maine fishermen.
Timestamped Summary
00:00
Luke Holden and Ben Conniff, co-founders of Luke's Lobster, discuss the challenges they faced during the pandemic, including shutting down their processing plant.
03:37
Luke Holden and Ben Conniff had to make difficult decisions, including letting go of about 300 employees, as they navigated the impact of the pandemic on their business.
07:09
Luke's Lobster had to pivot their business focus from selling to restaurants, casinos, and cruise lines to producing grocery-branded seafood products for consumers due to the impact of the pandemic on the restaurant industry.
10:42
Luke's Lobster had to adapt to the challenges of the pandemic by focusing on direct-to-consumer sales and e-commerce, diversifying their revenue streams to keep the business moving forward.
14:21
Luke's Lobster focused on solving problems within their supply chain and building robust businesses around where customers were buying during the pandemic.
18:17
Luke's Lobster expanded their business to include e-commerce sales of products like Bluefin Tuna to support fishermen and address challenges in the seafood supply chain during the pandemic.
22:01
Luke's Lobster faces challenges with sustainable certification due to federal laws impacting Maine fishermen, requiring increased efforts to communicate the actual sustainability of lobster fishing in Maine amidst the pandemic.
25:44
Maintaining transparency, core values, and purpose has been crucial for Luke's Lobster to make the right decisions, communicate effectively, and create a new normal focused on bettering the world.
Categories:
Business
