- PlantX Life recently launched as a seller on both Walmart Canada Marketplace and Hudson’s Bay Marketplace
- The launches appear to be leveraging the changes and trends brought about by the COVID-19 pandemic
- In addition, the agreements are part of PlantX’s growth strategy
- The company will offer thousands of its products on both platforms
As the COVID-19 pandemic upended multiple aspects of life in Canada, it did not spare the retail industry. Here, it forced Canadians to rethink how, where and when they shop, with the paramount consideration in their decision-making process being their personal and family health and safety. Shopping was no longer about what was trendy, cheap or convenient, but how safe it was. This shift instigated a dramatic drop in the number of in-store visits, even for groceries, with shoppers instead opting to go digital.
According to a study by KPMG Canada, 66% of Canadians increased their online shopping habits as a result of the pandemic. The 47% of Canadians who shifted to e-commerce do not miss their old way of grocery shopping, while only 15% of Canadians miss their old shopping habits and are eager to return to them (https://ibn.fm/4OX3F). The overall result was that online retail as a share of total retail sales grew from 3.6% in 2019 to 6.2% in 2020 (https://ibn.fm/cqWnH). These trends benefited some e-commerce stores, including Walmart Canada Marketplace, whose e-commerce sales grew by a staggering 229% during the pandemic.
In a deal that will allow it to leverage these trends/statistics, as well as Walmart Canada Marketplace’s extensive digital marketing services and customer base, PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) launched as a seller on Walmart Canada Marketplace, fulfilling a June 1 announcement. As part of the new collaboration, PlantX will make available for sell plant-based household supplies and pantry items from various brands, including Made in Nature, Cadia, Chickapea, NuNaturals, Fody, Plant Snacks, and Quantum, with potential opportunities to diversify its offerings on the platform in future (https://ibn.fm/vQ9xo).
“We have been focused on executing our growth strategy and our products being added to Walmart Marketplace is another component of expansion efforts,” commented PlantX Founder Sean Dollinger. “With our profile as a seller on this platform now active, we are excited to continue expanding access to our products to customers in Canada.”
In the June 1 communique (https://ibn.fm/fiph1), Dollinger had stated that the collaboration demonstrates the demand for PlantX’s products and “redefines PlantX’s potential as a plant-based leader.”
The Walmart Canada Marketplace announcement followed on the heels of a May 25 announcement that PlantX had launched as a seller on Hudson’s Bay Marketplace, a diversified retailer. While browsing the online store, customers can expect to find an assortment of indoor live plants, Nootka & Sea’s cosmetics and personal care products, and plant-based pet food from brands such as Evolution Diet and Benevo. Eventually, PlantX intends to offer more than 2,000 products on this online marketplace (https://ibn.fm/F2AfQ). “Witnessing our agreement with Hudson’s Bay Marketplace come to life is beyond encouraging,” stated PlantX CEO Julia Frank. “We hope practical ramifications of these efforts will be tangible, and we are looking forward to working with Hudson’s Bay Marketplace.”
With the majority of Canadians having already shifted to online shopping and an equally large proportion stating that they will continue going down that road well into the future, PlantX strategic partnerships appear to be capitalizing on the changes and emerging trends in the food and beverage industry.
Vancouver-based PlantX Life is a high-growth technology company focused on consumer-packaged goods (“CPG”) for the plant-based community. The company is committed to educating and empowering those interested in a plant-based lifestyle. “Shop with confidence at Plant X,” reads the company’s website. “We’ve done the work for you and everything we endorse meets our guideline for personal health and wellness morals. If it isn’t plant-based, we don’t offer it.”
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF