EMERGE Provides Corporate Update: New Market Launch, and Early Momentum from Local Economy Re-Opening
- UnderPar arrives in Western Canada with inaugural offer in partnership with Fairmont Chateau Whistler Golf Club
- truLOCAL sales volume remains more than double pre-pandemic levels, with continued profitability
- Lifting of COVID-19 restrictions in Ontario has contributed to early signs of resurgence of local and travel experiences, resulting in June being WagJag's strongest sales month in 2021 year-to-date
- EMERGE CEO to host virtual webcast this morning at 11am ET (Tuesday, June 29)
TORONTO, June 29, 2021 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE" or the "Company"), a diversified, rapidly growing acquirer and operator of direct-to-consumer ("D2C") e-commerce brands, today is pleased to share a number of corporate updates from across the Company's portfolio:
1. UnderPar arrives in Western Canada, and JustGolfStuff demonstrates continued growth
EMERGE golf experiences brand, UnderPar.com, has launched an inaugural offer in Western Canada with the Fairmont Chateau Whistler Golf Club. The offer is available to all UnderPar customers across North America.
"While it's still early days for UnderPar in Western Canada, we are excited to replicate our strong presence and proven playbook here in Ontario, California, Arizona, and other large golf states across the U.S.," commented Ghassan Halazon, Founder and CEO, EMERGE.
UnderPar's sister site for golf equipment and apparel, JustGolfStuff, continues to see excellent growth, with June on track to be another record month, capitalizing on the renewed popularity in golf sparked by the pandemic.
2. truLOCAL: Sales remain more than double pre-pandemic levels
truLOCAL, EMERGE's largest brand by revenue, continues to experience substantially higher sales and subscription levels to date when compared to the pre-pandemic period.
"There has been a lot of speculation about the potential impact of the economy re-opening on consumer behavior as it pertains to grocery e-commerce. To date, we are demonstrating with truLOCAL that in fact a new sales range has been established regarding the way people shop on the platform for premium meat delivery, and at this moment, it appears that this new normal is here to stay," added Halazon.
A recent survey by Paypal Canada shows Canadians have overall increased their monthly online shopping spend by more than $2 billion compared to pre-pandemici. The survey saw a significant jump in online grocery shopping, showing 49% of Canadian consumers engaged in online grocery shopping, compared to 19% in March 2020.
3. Early signs of pent-up demand in local and travel verticals as Ontario relaxes COVID-19 restrictions
With the recent re-opening efforts of the Ontario economy, EMERGE's local and travel experiences brands, WagJag.com and BeRightBack.ca, are seeing a number of key merchant partners re-join the platform. There has been a noticeable increase in returning deals since relaxation of COVID-19 restrictions in Ontario, with WagJag recording its largest month of sales in June for 2021.
"Our experiences and escapes segments are showing early signs of resurgence, as long-standing crowd favorites like Safari Niagara, Esso and Mobil, and Sherkston Shores are finally back on the platform to our customers' delight. We are especially proud to assist our local merchant partners as they safely re-open their doors, while encouraging consumers to head out, support local, and live life again," continued Halazon.
4. EMERGE Webcast
EMERGE Founder and CEO, Ghassan Halazon, will be hosting a virtual corporate presentation this morning (Tuesday, June 29, 2021) at 11am ET to discuss the Company's progress, acquisition pipeline, and future ambitions in the growing e-commerce space.
Webcast Details:
Link: https://zoom.us/webinar/register/WN_0NyohkGgSZqRHaLN3B0iXw
Webinar (Zoom) ID: 926 6757 6903
Passcode: 708453
About EMERGE
EMERGE is a disciplined, diversified, rapidly growing acquirer and operator of direct-to-consumer e-commerce brands. Our network of e-commerce sites provides our members with access to premium meat subscriptions, groceries, golf, family offers and nearby escapes. Our portfolio houses some of Canada's most coveted online destinations including trulocal.ca, UnderPar.com, JustGolfStuff.ca, WagJag.com, and BeRightBack.ca. EMERGE was named one of the fastest growing companies in Canada by the Startup 50, and the Globe and Mail's 2020 Canada's Top Growing Companies.
To learn more visit https://www.emerge-commerce.com/
Cautionary notice
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.
Notice regarding forward-looking statements
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 filing statement which are incorporated herein by reference 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.
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SOURCE EMERGE Commerce Ltd.
James Bowen, CFA, EMERGE Commerce Inc., 416-519-9442, [email protected]
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