Farmmi Expands Use of Online and Cloud-based Sales & Marketing Platforms to Drive Growth

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI), an agriculture product supplier in China, is expanding its use of online and cloud-based sales platforms to enhance sales of Shiitake mushrooms and other agricultural products. The company participated in online events like the Cloud Canton Fair and the 2020 Online Export Agricultural Products Fair. CEO Yefang Zhang emphasized that the shift to digital technology has been crucial during the COVID-19 pandemic, enabling new market opportunities and improved customer engagement. Farmmi aims for a long-term digital transformation to drive future growth.

Positive

• Expansion into online and cloud-based sales has resulted in new customer acquisition and repeat orders.
• Participation in major online fairs increases visibility and market reach.
• Strategic online marketing efforts are fostering customer engagement and convenience.

Negative

• Dependency on digital platforms may pose risks if technology or market conditions change.

LISHUI, China, July 7, 2020 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced it has been expanding the use of online and cloud-based sales and marketing platforms to drive growth in sales of its Shiitake mushrooms, Mu Er mushrooms, other edible fungi and agricultural products. The Company has attended various online fairs and sales events, such as the Cloud Canton Fair (the Canton Fair held online), the Cloud Live Sales Event held by the Economic and Commercial Bureau of Liandu District, Liandu District Fusion Media Center, and Liandu District Market Supervision Administration, and the 2020 Online Export Agricultural Products Fair held by the Zhejiang Export Agricultural Products Virtual Expo (Global Station). Farmmi also joined the government's procurement cloud computing service platform The Company's increased focus on strategically using online marketing tools and platforms is helping to drive sales with new customers and has resulted in multiple additional repeat orders in China, the U.S. and Israel, and other markets worldwide.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "With the onset of the global COVID-19 pandemic, we quickly prioritized the health and safety of our employees and customers. Temporary business shut-downs, social distancing and the implementation of broader safety measures made traditional marketing based on large gatherings no longer practical. From there we made the strategic decision to upgrade and accelerate our use of digital technology and platforms, and our online and cloud-based sales and marketing efforts. Farmmi has fully embraced and supported the move online for important events like the newly renamed Cloud Canton Fair and the 2020 Online Export Agricultural Products Fair. These sales and marketing platforms are helping us to move additional products online, find new markets, develop new business opportunities, and inject new momentum to further promote the digital transformation of enterprises." 

Ms. Zhang continued, "We are working to take advantage of online trading, broaden online cooperation channels and increase sales, as we leverage our online, cloud and digital programs to transfer sales channels online through limited promotions, while implementing group purchase discounts and other online marketing programs, ranging from webcasts to intuitive 3D product presentations. We view this as a major driver of future economic growth. We are encouraged by the positive, broad customer support for the new technologies and Cloud-based apps, which allow the customers to communicate and make purchases more efficiently and conveniently, while enhancing their overall buying experience. Over the long-term, we remain committed to maintaining an integrated online and offline presence, innovating our business model, and achieving our fully upgraded digital transformation, as we build value for the Company and shareholders."

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and many other sought-after agricultural products. The Company's Farmmi Liangpin Market serves as a global trading platform for Chinese geographical indication agricultural products and is one of the largest platforms for consumers to access locally sourced agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including the potential impact of COVID-19 on our business within and outside of China.  These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

 

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SOURCE Farmmi, Inc.

FAQ

What is Farmmi, Inc. (FAMI) focusing on in 2020?

Farmmi is focusing on expanding online and cloud-based sales and marketing platforms to drive growth.

How has Farmmi adapted to the COVID-19 pandemic?

Farmmi has prioritized digital marketing and online sales due to the pandemic's impact on traditional business models.

What agricultural products does Farmmi supply?

Farmmi supplies Shiitake mushrooms, Mu Er mushrooms, and other edible fungi.

Where does Farmmi operate?

Farmmi operates in China and has expanded its reach to markets in the U.S. and Israel.

What events has Farmmi participated in for marketing?

Farmmi has participated in online fairs like the Cloud Canton Fair and the 2020 Online Export Agricultural Products Fair.