Carmel Pratt found the Instant Pot to be a valuable investment after her slow cooker broke down in 2019, replacing multiple appliances with the versatile multicooker.
credit: msn .com
Despite the longevity of her Instant Pot, Pratt sees no need to upgrade to a newer version and is satisfied with its performance.
credit: msn .com
Instant Brands, the parent company of Instant Pot, Pyrex, and CorningWare, filed for Chapter 11 bankruptcy, highlighting the challenge faced by brands in producing products that last indefinitely.
credit: msn .com
Declining sales in the multicooker market, saturated with competing products, contribute to Instant Brands' financial struggles.
credit: msn .com
Experts note that the consumer cooking hardware industry, particularly countertop appliances, operates on low margins and faces challenges in sustaining long-term demand.
credit: msn .com
Instant Brands secured $132.5 million in funding to continue operations, citing global macroeconomic and geopolitical challenges as contributing factors to its financial situation.
credit: msn .com
The COVID-19 pandemic further boosted Instant Pot's popularity as home cooks sought versatile cooking solutions.
credit: msn .com
Some consumers, like Ellie Leitner, experienced regret after purchasing an Instant Pot, using it infrequently and eventually leaving it unused.
credit: msn .com
Instant Brands attempted to expand its product line beyond Instant Pot, introducing items such as air fryers, grills, and coffee machines, but failed to replicate the same success.