Stran & Company Launches Loyalty Redemption Program for Online Sports & Entertainment Client

Rhea-AI Summary

Stran & Company, Inc. launches new loyalty program, generating $2 million in sales in the first week with more than 22,000 orders. Maximum sales projected at $4 million.

Positive

• New loyalty program generates significant sales and customer engagement
• Positive results indicate potential for future programs and client expansion

Negative

• None.

Quincy, MA, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Stran & Company, Inc. (“Stran” or the “Company”) (NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing solutions provider that leverages its promotional products and loyalty incentive expertise, today announced that it has launched a new loyalty program for a client that has received more than 22,000 orders in the first week of the redemption period, generating more than $2 million in sales.

Stran’s client, an online sports and entertainment company, invests in both customer acquisition and retention initiatives that Stran supports through a combination of physical and experiential rewards designed to drive behavior. The loyalty program rewards are offered to the client’s consumers in the form of products that can be redeemed online. The program is an example of one of several such programs based on Stran’s e-commerce loyalty program platform, which supports all aspects of client and consumer engagement from product ideation, production, technology, logistics, inventory management, fulfillment, and reporting to ensure a seamless experience for both the client and their consumers.

The maximum number of orders from this program will be approximately 45,000, for total maximum sales of approximately $4 million.

“We are thrilled to see the volume of redemptions that took place in the initial week of our engagement, as it speaks to the effectiveness of both the overarching loyalty strategy as well as the specific offering to the client’s consumer base,” stated Andy Shape, CEO of Stran. “Our creative, merchandising, sourcing, production, and logistics capabilities are helping our client to retain their customers. This is an example of one of several loyalty and incentive-based initiatives that we offer to assist our clients with the goal of driving customer retention.  Moreover, given the results so far from this program, we look forward to rolling out similar programs with this client in the future as we continue to expand our relationship.”

About Stran

Over the past 27 years, Stran has grown to become a leader in the promotional products industry, specializing in complex marketing programs to help recognize the value of promotional products, branded merchandise, and loyalty incentive programs as a tool to drive awareness, build brands and impact sales. Stran is the chosen promotional programs manager of many Fortune 500 companies, across a variety of industries, to execute their promotional marketing, loyalty and incentive, sponsorship activation, recruitment, retention, and wellness campaigns. Stran provides world-class customer service and utilizes cutting-edge technology, including efficient ordering and logistics technology to provide order processing, warehousing and fulfillment functions. The Company’s mission is to develop long-term relationships with its clients, enabling them to connect with both their customers and employees in order to build lasting brand loyalty. Additional information about the Company is available at: www.stran.com.

Forward Looking Statements

This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the Company’s periodic reports which are filed with the Securities and Exchange Commission. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.

Contacts:

Investor Relations Contact
Crescendo Communications, LLC
Tel: (212) 671-1021
SWAG@crescendo-ir.com

Press Contact
Howie Turkenkopf
press@stran.com