60% of Tobacco Retailers who Have Carried TAAT™ for Three or More Weeks Have Placed Reorders
TAAT Lifestyle & Wellness Ltd. (OTCQB: TOBAF) reports strong performance in Ohio as 60% of retailers who stocked its product TAAT™ have reordered within three weeks. The product is now available at 1.4% of convenience and gas station points of sale in the state. Management credits this high reorder rate to sustained interest from legal-aged smokers, supported by an effective marketing strategy, including digital and out-of-home campaigns. The company anticipates continued growth and market share expansion as it prepares to launch an online store.
- 60% reorder rate from retailers in Ohio after three weeks of sales.
- TAAT™ is present in approximately 1.4% of retail locations in Ohio.
- Effective marketing strategies are driving sustained consumer interest.
- None.
LAS VEGAS and VANCOUVER, British Columbia, Jan. 29, 2021 (GLOBE NEWSWIRE) -- TAAT™ LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTCQB: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “TAAT™”) is pleased to announce that after TAAT™ became available to purchase at tobacco retail stores in Ohio, approximately
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“Original”, “Smooth”, and “Menthol” varieties of TAAT™ are merchandised as part of a cigarette display at a tobacco retail store in Ohio
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Even in the early stages of the launch of TAAT™ in Q4 2020, legal-aged smokers across the United States exhibited enthusiasm about the product. In the Company’s November 6, 2020 press release it was announced that nearly one third of all visitors to the TryTAAT landing page submitted confirmed requests for a sample pack of TAAT™, a conversion rate that is considered exceptional by industry standards. In a press release dated January 12, 2021, the Company also announced that the Menthol variety of TAAT™ was the first to be sold out and reordered by tobacco retailers. As tobacco retailers in Ohio continue to reorder TAAT™, the Company is confident that it can keep gaining market share by scaling its current commercialization efforts. Once the TAAT™ online store is launched, the Company believes the ability to sell TAAT™ directly to legal-aged smokers could accelerate adoption of TAAT™ as a replacement for tobacco cigarettes.
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Now in its second month of availability at retail in Ohio, TAAT™ is currently carried in over 100 tobacco retail stores across the state, as shown in the Store Locator feature of the TryTAAT landing page (http://trytaat.com)
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TAAT™ Chief Executive Officer Setti Coscarella commented, “After about six weeks of selling all three varieties of TAAT™ at retail in Ohio, we have had the opportunity to gather some very insightful data about how it has performed among legal-aged smokers in our initial market. Aside from the glowing feedback we have received about TAAT™ between anecdotes from stores, online reviews, and comments sent directly to us, the most meaningful indicator of our success so far is the product velocity. For stores that have stocked TAAT™ for at least three weeks, more than half of them have placed reorders, many of which were for larger quantities than their original order. I believe this demonstrates that the collective sum of our efforts are having the intended effect. Much of 2020 was spent perfecting TAAT™ and Beyond Tobacco™, procuring manufacturing at the right price, laying down infrastructure for distribution and sales, and strategizing marketing initiatives targeted towards legal-aged smokers in the United States. These reorders show that we are gaining momentum in 2021, and we intend to pick up even more steam as we continue to add more points of sale and prepare to launch our online store which can avail TAAT™ to legal-aged smokers in dozens of states besides Ohio.”
TAAT™ Chief Revenue Officer Tim Corkum commented, “Out of all of the tobacco category products I have worked with, TAAT™ is an outlier in terms of the level of demand it has had in its early stages. I have launched dozens of new tobacco brands across Canada as well as in the Caribbean, and while many of the new products were reordered by retailers in their first several weeks on the market, none of them were reordered by anywhere near
On behalf of the Board of Directors of the Company,
TAAT™ LIFESTYLE & WELLNESS LTD.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatusa.com
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About TAAT™ Lifestyle & Wellness Ltd.
The Company has developed TAAT™, which is a tobacco-free and nicotine-free alternative to traditional cigarettes offered in "Original", "Smooth", and "Menthol" varieties. TAAT™'s base material is Beyond Tobacco™, a proprietary blend which undergoes a patent-pending refinement technique causing its scent and taste to resemble tobacco. Under executive leadership with "Big Tobacco" pedigree, TAAT™ was launched first in the United States in Q4 2020 as the Company seeks to position itself in the
For more information, please visit http://taatglobal.com.
References
1 British American Tobacco - The Global Market
Forward-Looking Statements
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