EMERGE Highlights Key Growth Initiatives for truLOCAL in 2024
TORONTO, Feb. 27, 2024 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE", or the "Company"), a premium e-commerce brand portfolio, is pleased to provide the following corporate update, highlighting key growth initiatives and drivers for truLOCAL in 2024.
truLOCAL, our premium meat & seafood subscription brand, and EMERGE's largest business by revenue and profit, is in the process of rolling out a number of initiatives aimed at building on the recent momentum, and driving organic growth in 2024, including:
- Corporate Gifting: truLOCAL secured approximately $450,000 in corporate orders in Q4 2023, driven by a large multi-national corporate order (2,000+ employees), in addition to a number of smaller orders from other corporate customers. truLOCAL intends to build out its corporate gifting/ B2B business, positioning truLOCAL subscription boxes as a fresh take on "Employee Perks" and "Client Gifts" with a focus on a healthy diet, while supporting local farmers.
To inquire about corporate orders for your organization, or to learn more about this program, please visit: truLOCAL Corporate Gifts - Customer Acquisition Traction: In January 2024, truLOCAL saw its largest influx of net new customers since Q2 2020 ("peak-pandemic"), with continued traction on the customer acquisition front in Q1 to date. The main driver for these encouraging results is our revamped marketing program and strategy. Given truLOCAL's favorable Customer Lifetime Value ("CLTV") to Customer Acquisition Cost ("CAC"), we intend on accelerating our marketing efforts to drive efficient growth with a focus on high CLTV members at reasonable CACs, rather than seeking one-time customers.
- Curated Boxes: truLOCAL has previously seen success with curated boxes during various holidays/ seasonal occasions. We plan to grow our assortment and collaborate with other brand partners, including with truLOCAL sister site, Carnivore Club. Live curated box examples include "Date Night", "Steak Lovers", "Fish Faves" and "Classic Clean and Lean" boxes.
To inquire about brand collaborations, or learn more about the Curated Boxes program, please visit: https://trulocal.ca/curated-boxes - Advertising Program: truLOCAL is in the early stages of rolling out a high-margin, advertising revenue line, leveraging our online and offline distribution coupled with our extended advertising relationships established by other EMERGE brands. truLOCAL members are digitally savvy, health-conscious, and high income. We anticipate strong premium advertiser demand to reach such a prized demographic.
To inquire about advertising opportunities, please reach out to [email protected]
"The recent $450,000 or so in corporate orders is an example of how the truLOCAL brand and business have the potential to extend far beyond our core consumer subscription offering, which itself remains an area of vast growth potential. We fully intend on leveraging the highly respected truLOCAL brand along with our long-standing relationships in the space to unlock new organic growth drivers in the near-term. Between the positive customer acquisition traction we are seeing lately, as well as key initiatives being scaled such as corporate gifting, curated boxes, and our advertising program, we believe truLOCAL is on the right path to not only re-ignite revenue growth again, but to also capture a larger piece of the multi-billion dollar online meat & seafood/ e-grocery opportunity in 2024 and beyond," commented Ghassan Halazon, Founder and CEO, EMERGE Commerce.
EMERGE (TSXV: ECOM) is a premium e-commerce brand portfolio in Canada and the U.S. Our subscription and marketplace e-commerce properties provide our members with access to unique offerings across grocery and golf verticals. Our grocery businesses include truLOCAL.ca, our premium meat & seafood subscription brand, and Carnivore Club, our artisanal meat subscription brand. Our golf businesses include UnderPar, our discounted golf experiences brand, and JustGolfStuff, our golf products & apparel brand.
To learn more visit https://www.emerge-commerce.com/
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The Company undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Company, its securities, or financial or operating results (as applicable). Although the Company believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond the Company's control, including the risk factors discussed in the Company's MD&A, Prospectus Supplement and Annual Information Form and are available through SEDAR at www.sedar.com. The forward-looking information contained in this press release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
On Behalf of the Board
Ghassan Halazon
Director, President, and CEO
SOURCE EMERGE Commerce Ltd.
Kyle Burt-Gerrans, EMERGE Commerce Ltd., 416-479-9590, [email protected]
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