Fobi Signs Marketing Deal with Abbot’s Butcher, A Premium US Plant-Based Protein Company

Rhea-AI Summary

Fobi AI Inc. (FOBIF: OTCQB) announced a partnership with Abbot’s Butcher to implement digital coupons via Fobi’s Qples platform, effective January 17, 2022. This collaboration targets the growing plant-based health food market, projected to reach US$1.1 trillion by 2027. The deal positions Fobi as a leader in digital couponing, enhancing customer engagement and driving revenue through a per coupon model. Abbot's Butcher has expanded to over 800 retail locations, prioritizing customer experience through innovative solutions.

Positive

• Partnership with Abbot’s Butcher enhances Fobi's presence in the growing plant-based health food market.
• Revenue generation through an ongoing per coupon revenue model from the digital coupon implementation.
• Qples by Fobi recognized as an industry leader in digital coupons.

Negative

• None.

Deal with Abbot’s Butcher signifies Fobi’s entry into the Plant-based Health Food Industry

VANCOUVER, BC, Jan. 28, 2022 (GLOBE NEWSWIRE) -- Fobi AI Inc. (FOBI: TSXV; FOBIF: OTCQB) (the “Company” or “FOBI”), a leader in providing real-time data analytics through artificial intelligence to drive customer activation and engagement, is pleased to announce the signing of a deal on January 17^th to provide Abbot’s Butcher, a premium plant-based protein brand, with Fobi’s Qples coupon platform.  

QPLES BY FOBI SELECTED AS A LEADING COMPANY IN DIGITAL COUPONS

Abbot’s Butcher is an up-and-coming plant-based protein company that champions sustainability and health and which has now expanded into over 800 retail and food service locations across the US, including Whole Foods Market.  They were looking to offer digital coupons to add value to their customers and make it easier to redeem their coupons, as everything they do is about their customers and improving their experience.  To achieve this, they evaluated several options, however, they found that other options were more limited than Qples by Fobi, and they felt confident that Qples was an industry leader in digital coupons. They also were pleased by how easy Qples was to use, and the great service they got from the Qples by Fobi team.

"We are excited to partner with Qples by Fobi and to launch our first-ever digital coupons at Abbot's Butcher. This will allow us to give back to our customers and drive trials for new customers," says Kristi Fanning, Abbot’s Butcher Marketing Director.

Abbot’s Butcher adds to a growing list of CPG brands and retailers that trust Qples by Fobi with their print at home and digital couponing needs.  Fobi will generate revenue from this deal through an ongoing per coupon revenue model.

“This deal with Abbot’s Butcher continues our string of success with CPG brands, however, it is also very exciting as we are beginning to see success and expect exponential growth in our business in the Health Food Industry. Fobi’s ability to deliver targeted coupons and promotions through the Qples platform, combined with the power of personalized real-time engagement through our Passcreator Wallet pass platform will drive digital transformation in the Health Food Industry,” said Rob Anson, Fobi CEO.  

Global Health and Wellness Foods Market to Reach US$1.1 Trillion by the Year 2027
Even amid the COVID-19 crisis, according to a recent report from researchandmarkets.com, the global market for Health and Wellness Foods estimated at US$764.2 Billion in the year 2020, is projected to reach US$1.1 Trillion by 2027, growing at a CAGR of 4.8% from 2020-2027.  In the US, the Health and Wellness Foods market was estimated at US$221.2 Billion in 2020, accounting for a 28.94% share of the global market, and according to data by SPINS, the US plant-based meat market expanded 45% to $1.4 Billion by the end of 2020. This creates a great opportunity for Fobi to increase their business with CPGs and retailers in this large and growing space.  This growth is being driven in large part by the new 8112 Universal Coupon Standard being championed by The Coupon Bureau and Qples by Fobi.  For more information on how you can implement digital coupons to better serve your customer or on the new Universal Coupon Standard, please contact Fobi. You can also view a recent webinar that Fobi & The Coupon Bureau did on the new 8112 Universal Coupon Standard, and what it means for CPGs, Agencies and Retailers.

This press release is available On the Fobi website, and also on the Verified Forum On AGORACOM For Shareholder Discussion And Management Engagement. 

About Abbot’s Butcher

Abbot's Butcher is leading the next generation of plant-based proteins by offering a variety of meat alternatives made from simple, wholesome ingredients. Founded in 2017, Abbot’s Butcher grew out of farmers’ markets across Southern California and has since expanded into grocers, markets, and restaurants throughout the country. Abbot’s Butcher’s ethos revolves around the belief that food can be both craveable and healing for our bodies and the planet. Each of Abbot’s Butcher’s plant-based meats are Non-GMO Project Verified, Vegan-certified, Whole30 Approved, and completely free from soy, canola oil, or additives. The women-owned company is also a proud member of the Plant-Based Foods Association. For more information, please visit http://www.abbotsbutcher.com/ 

About Fobi
Fobi is a cutting-edge data intelligence company that helps our clients turn real-time data into actionable insights and personalized customer engagement to generate increased profits. Fobi's unique IoT device has the ability to integrate seamlessly into existing infrastructure to enable data connectivity across online and on-premise platforms creating highly scalable solutions for our global clients. Fobi partners with some of the largest companies in the world to deliver best-in-class solutions and operates globally in the retail, telecom, sports & entertainment, casino gaming, and hospitality & tourism industries.
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For more information, please contact:

Fobi AI Inc.		Fobi Website: www.fobi.ai
Rob Anson, CEO		Facebook: @ Fobiinc
T : +1 877-754-5336 Ext. 3		Twitter: @ Fobi_inc
E: ir@fobi.ai		LinkedIn: @ Fobiinc

Forward-Looking Statements/Information:
This news release contains certain statements which constitute forward-looking statements or information. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond the Company's control, including the impact of general economic conditions, industry conditions, and competition from other industry participants, stock market volatility and the ability to access sufficient capital from internal and external sources. Although the Company believes that the expectations in its forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement. Trading in the securities of the Company should be considered highly speculative. There can be no assurance that the Company will be able to achieve all or any of its proposed objectives.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

FAQ

What is the significance of Fobi's deal with Abbot's Butcher?

The deal allows Fobi to enter the plant-based health food market, enhancing its digital coupon offerings and customer engagement.

When was the partnership between Fobi and Abbot's Butcher announced?

The partnership was announced on January 28, 2022, with an effective date of January 17, 2022.

What market is Fobi targeting with their digital coupons?

Fobi is targeting the health food market, specifically focusing on the plant-based protein segment.

What is the expected growth of the health and wellness foods market?

The global health and wellness foods market is projected to reach US$1.1 trillion by 2027, growing at a CAGR of 4.8%.