springbig Showcases the Success of its Partners During July Holidays

Rhea-AI Summary

Sales performance on July 10 surpassed previous Sundays by an average of 15%. springbig (NASDAQ: SBIG, SBIGW), specializing in SaaS marketing solutions for the cannabis sector, reported significant gains for the weekends surrounding July 4 and July 10. The company experienced an 18% increase in text messages and a 22% rise in total campaigns on Independence Day. Notably, July 10 saw a 20% increase in campaigns and a remarkable 46% surge in concentrates sales. This strong performance emphasizes the resilience of the cannabis industry amid uncertainties.

Positive

• July 10 sales increased by 15% compared to the previous Sundays.
• 18% increase in texts sent and 22% rise in campaigns on July 4.
• 20% increase in campaigns on July 10 compared to previous weekends.
• 46% increase in sales of concentrates on July 10.

Negative

• None.

Sales recorded on July 10 outperformed the previous four Sundays by an average of 15%

BOCA RATON, Fla., July 19, 2022 (GLOBE NEWSWIRE) -- springbig (the “Company”) (NASDAQ: SBIG, SBIGW), a leading provider of SaaS-based marketing solutions, consumer mobile app experiences, and omnichannel loyalty programs to the cannabis industry, today highlighted data recorded during the weekends of July 4 and July 10.

On Independence Day, the Company recorded an 18% increase in texts sent and a 22% increase in total campaigns distributed. Additional data obtained by springbig also highlighted an increase in overall sales, reward redemptions and visits.

The Company’s partners continued to flourish on 7/10 Oil Day. Campaigns, messages and credits increased by an average of 20% on July 9 and 50% on July 10 compared to each of the four previous Saturdays and Sundays, respectively. On July 9 and 10, 3.3 million messages were sent, using over 15 million credits.

The widespread increase in campaigns, messages and credits used on July 10 resulted in a 15% increase in sales compared to each of the four previous Sundays. Arizona, California and Michigan enjoyed the most success with sales bumps of 20% or more on 7/10 Oil Day. The higher sales recorded on 7/10 Oil Day were generated by a 46% and 22% sales increase in concentrates and vaporizers, respectively.

“July has been a successful month for our partners and we are happy to support their endeavors as they look to connect with their customers,” said Jeffrey Harris, CEO of springbig. “July 4 and July 10 have historically been high-performing days for our partners, and this year was no different, demonstrating the cannabis industry’s persistence in uncertain times. Moving forward, we are excited to explore new ways in which we can elevate our platform and help our partners grow.”

For more information regarding springbig's latest efforts, please visit https://springbig.com/.

About springbig
springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to cannabis retailers and brands in the U.S. and Canada. springbig’s platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers’ and brands’ customer engagement and retention. springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, springbig’s reporting and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. For more information, visit https://springbig.com/.

Media Contact
Phoebe Wilson
MATTIO Communications
springbig@mattio.com

Investor Relations Contact                         
Courtney Van Alstyne
MATTIO Communications
ir@mattio.com

FAQ

What were springbig's sales on July 10, 2022?

Sales on July 10, 2022, increased by 15% compared to the previous four Sundays.

What was the performance of springbig on July 4, 2022?

On July 4, 2022, springbig reported an 18% increase in texts sent and a 22% increase in total campaigns.

What increases did springbig observe on Oil Day, July 10?

On Oil Day, July 10, springbig observed a 20% increase in campaigns and a 46% increase in concentrates sales.

Which states saw the most success on July 10 for springbig?

Arizona, California, and Michigan experienced sales increases of 20% or more on July 10.

How did springbig support its partners in July 2022?

springbig supported its partners by enhancing customer engagement through increased messaging and campaign distribution.