TAAT™ Deploying Incentive Program for Chain Retailers to Bolster In-Store Conversions
TAAT Global Alternatives Inc. (OTCQX: TOBAF) is launching a sample incentive program for U.S. chain retailers starting Q1 2022. This initiative aims to convert promotional sample recipients into full pack purchasers of TAAT products. Retailers, particularly those carrying both TAAT and traditional tobacco brands, will receive support including a countertop display and initial product samples. The program is designed to boost product awareness and encourage trial among smokers, with incentives based on conversion rates. TAAT is seeking participation from chains with a minimum of five stores.
- Launch of a sample incentive program to boost product awareness and sales.
- Targets retailers with established tobacco sales, tapping into existing consumer bases.
- Incentives based on conversion yield structure enhance retailer engagement.
- None.
LAS VEGAS and VANCOUVER, Feb. 11, 2022 (GLOBE NEWSWIRE) -- TAAT™ GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT™”) is pleased to announce that beginning in Q1 2022 it will offer a program for chain retailers in the United States who carry TAAT™ products through which individual stores can earn incentives for converting recipients of promotional TAAT™ samples into purchasers of a full TAAT™ pack. Tobacco retailers in chains of up to 5,000 U.S. stores are being invited by the Company to participate in this program, provided they currently carry TAAT™ products alongside legacy tobacco cigarette brands (e.g., Marlboro, Newport, Camel, etc.) and consistently maintain a robust inventory of all three TAAT™ varieties. This sample incentive program is to be initially launched in select convenience franchise locations in Ohio, West Virginia, and Pennsylvania, and is to operate concurrently with the Company’s broader in-store activation initiative for gas station chains as announced in TAAT™’s January 21, 2022 press release.
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Under the TAAT™ chain retailer sample incentive program, participating stores will be provided a countertop display for TAAT™ Twos (two-stick sample packs of TAAT™ Original, Smooth, or Menthol) with an initial supply of each variety along with support materials for tracking redemptions. When a consumer purchases a pack of tobacco cigarettes from an incumbent brand, the incentive program will activate, encouraging retailer engagement which begins with providing a complimentary sleeve of the highly anticipated TAAT™ Twos product samples. The incentive program has been in development since September of 2021 as part of a series of marketing tactics geared towards consumer education and conversion from traditional tobacco products. The incentive program includes several layers of accountability measures with auditable records. The customizable components of the incentive program can provide a scalable process for participating retailers, taking into account the range of potential disparities in technology and logistics relevant to each participating chain store brand. Incentives are to be awarded based on a conversion yield structure that can be negotiated with each retail chain to align with any existing similar programs from CPG vendors.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6df43620-b2f9-4db5-9183-3ca26276892a
Readers using news aggregation services may be unable to view the media above. Please access SEDAR or the Investor Relations section of the Company’s website for a version of this press release containing all published media.
The Company’s objective with its chain retailer sample incentive program is to “intercept” purchases of tobacco cigarettes for the purpose of generating product awareness, while also distributing complimentary samples of the TAAT™ variety that is most likely to be of interest to a current smoker based on their preferred tobacco cigarette brand. By implementing this program with chain retailers, TAAT™ anticipates that it can rapidly place TAAT™ Twos as a promotional tool to prompt trials of the product with an added incentive to purchase a full pack for the first time.
At this time, TAAT™ is accepting requests for participation in its sample incentive program from retail chains in the United States with a minimum of five stores that sell tobacco cigarettes and either currently carry TAAT™ products or will begin carrying TAAT™ products this year. Interested parties may contact hello@taatglobal.com for more information.
TAAT™ Chief Executive Officer Setti Coscarella commented, “In the tobacco industry, you cannot be shy at all when it comes to angling for long-term market share once your product has gained initial momentum. Indeed, the overall process is a marathon and not a race, which is exactly why we took a disciplined and patient approach to our launch efforts in late 2020 and early 2021. As our presence in convenience and fuel chains grows along with our global store count, we have recognized the value our chain partners can provide us in terms of strengthening category penetration through store-level sample distribution underpinned by an incentive program for turning sample recipients into purchasers of TAAT™. Based on the performance of this program, it can be adapted to additional locations within a given chain, which could be a factor in scaling our retail presence even more rapidly. The majority of current smokers in the United States do not yet know that a nicotine-free and tobacco-free alternative such as TAAT™ even exists, which is why I believe the free TAAT™ Twos samples offered with packs of leading cigarette brands can be very effective in driving awareness; particularly with the aid of an incentive program such as the one we will be launching this quarter.”
On behalf of the Board of Directors of the Company,
TAAT™ GLOBAL ALTERNATIVES INC.
“Setti Coscarella”
Setti Coscarella, CEO and Director
For further information, please contact:
TAAT™ Investor Relations
1-833-TAAT-USA (1-833-822-8872)
investor@taatglobal.com
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About TAAT™ Global Alternatives Inc.
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
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking information and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur, or be achieved. Forward-looking information in this news release includes statements regarding the anticipated performance of TAAT™ in the tobacco industry, in addition to the following: Launch of the TAAT™ sample incentive program with existing and potential new retailers in the United States who carry TAAT™, potential outcomes from the launch of the TAAT™ sample incentive program in the United States in Q4 2022. The forward-looking information reflects management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed timeframes or at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes to the growth and size of the tobacco markets; and (iii) other factors beyond the control of the Company. The Company operates in a rapidly evolving environment. New risk factors emerge from time to time, and it is impossible for the Company’s management to predict all risk factors, nor can the Company assess the impact of all factors on Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ from those contained in any forward-looking information. The forward-looking information included in this news release are made as of the date of this news release and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable law.
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FAQ
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