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Naturally Splendid Enterprises Ltd. (“Naturally Splendid”, “NSE” or “the Company”) (FRANKFURT:50N) (TSXV:NSP) (OTC:NSPDF) is pleased to announce it has engaged AMZing Marketing Consulting to assist in expanding its e-commerce strategy.
The expanded e-commerce strategy is in direct response to the rapidly changing purchasing habits of a wide segment of consumers. In this time of ‘physical distance’, on-line shopping has increased significantly and is expected to continue this trend.
Company Branded products available on-line will include; Natera Hemp Foods(TM); Chii Hemp Foods(TM); and Natera Sport(TM) products such as the recently launched curcumin-based supplement, ProCurc(TM). E-commerce accounts have been established and inventory sent to Amazon for distribution. Naturally Splendid will provide updates as more Company Branded products become available at Amazon.
AMZing Marketing CEO and founder Mr. Tim Wong states, “Naturally Splendid develops high- quality, nutritious, healthy and convenient products that consumers are demanding. We have been experts in e-commerce for over 15 years and I fully expect these products will be well received by online consumers, especially in current times. As we all come to the realization that physical distancing is an integral component to reducing the impact of the pandemic, we recognize that on-line shopping can provide a solution to traditional daily activities such as shopping at your grocery store”.
According to IRI, to succeed in this rapidly changing landscape, snack companies must act now in order to capitalize on potential growth. IRI is a leading provider of big data, predictive analytics and forward-looking insights that help CPG, OTC health care organizations, retailers, financial services and media companies grow their businesses
Sally Lyons Wyatt, executive vice president and practice leader of client insights for IRI, recommended that snack companies balance price with quality and wellness attributes to capitalize on growing sales during the coronavirus (COVID-19) epidemic.
The snack industry saw significant increases in purchasing in March as consumers stocked up on food supplies to prepare for stay-at-home orders, she said, and the temporary increase because of the coronavirus (COVID-19) pandemic may have lasting impact on snack trends for 2020, and potentially the years to follow.
IRI tracked snacks purchased over the month of March to see how consumers were reacting to the COVID-19 outbreak in terms of spending on snacks. For the period between Jan.20, when the first COVID-19 case was reported in the United States, and March 15, when 158 million Americans were to stay at home, dollar sales skyrocketed compared to the same period a year ago.
Naturally Splendid VP Mr. J. Bryan Carson states, “For the most part, consumers are doing their part in adhering to the advice of physical distance guidelines. Naturally Splendid endeavours to make the process of purchasing online as easy as possible to help this cause. Additionally, in these times when there is price gouging going on, Naturally Splendid pledges to keep prices in line with what we currently offer. We are being challenged with currency fluctuations as well as other challenges that are testing our price structure. Having said that, our ambition is to provide safe nutritious food, at prices our consumers expect.”
Suspending All Cannabinoid Extraction and Edible Projects
Naturally Splendid has made the decision to suspend all cannabinoid extraction and/or edible based projects indefinitely. The Company will focus on manufacturing nutritious bars and bites where there is immediate and long-term consumer demand.
The Company has been developing our bars and bites manufacturing capability since the acquisition of Prosnack in 2017., More recently, the Prosnack manufacturing facility was certified Safe Quality Food Level 2. Prosnack continues to drive the majority of revenue to the Company.
Naturally Splendid CEO Mr. J. Craig Goodwin states, “Previously, in an attempt to enter the edibles market, the Company had applied for a Dealer’s License which was amended to a Processor’s License application. Ultimately this application has not been successful. The Company had also pursued a variety of extraction and edible related business propositions including acquiring a late stage application extraction-based company in Ontario, Canada, and a cannabinoid extraction joint venture in Oregon, USA. These projects have already been terminated and announced accordingly. Given the world changing events we find ourselves in, the Company has made the decisive move to dedicate our efforts towards the need for providing safe nutritious food.”
About Naturally Splendid Enterprises Ltd.
NSE has established numerous healthy, functional foods under recognized brands such as Natera Sport(TM), Natera Hemp Foods, CHII (TM), Elevate Me(TM) and Woods Wild Bar. The Company has a myriad of new products and line extensions under development that are approaching launch. NSE has also developed proprietary technologies for the extraction of high demand, healthy omega 3 and 6 oils from hemp. (NSE sales revenues for the first half 2019 exceeded FY2018).NSE is the current “go-to” manufacturer for healthy, functional food products and ingredients focusing on plant-based ingredients. The Company provides contract manufacturing services for many global healthy food companies, private labelling a wide variety of nutritional food products destined for global healthy food markets.
For more information e-mail email@example.com or call Investor Relations at 604-673-9573
On Behalf of the Board of Directors
Mr. J. Craig Goodwin
CEO, President, Director
Naturally Splendid Enterprises Ltd.
(NSP – TSX Venture; NSPDF – OTCQB; 50N Frankfurt)
#108-19100 Airport Way
Pitt Meadows, BC, V3Y 0E2
Office: (604) 465-0548
Fax: (604) 465-1128
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Naturally Splendid cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Naturally Splendid’s control including, Naturally Splendid’s ability to compete with large food and beverage companies; sales of any potential products developed will be profitable; sales of shelled hemp seed will continue at existing rates or increase; customers will complete on sales contracts; and the risk that any of the potential applications may not receive all required regulatory or legal approval. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Naturally Splendid undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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