viewNaturally Splendid Enterprises Ltd.

Naturally Splendid to launch products on Amazon as online shopping spikes with coronavirus pandemic

It has engaged AMZing Marketing Consulting to expand its e-commerce strategy and to launch products on the Amazon.com website  

Naturally Splendid Enterprises Ltd. -
Naturally Splendid CEO J Craig Goodwin said that with the coronavirus outbreak the company is suspending all cannabinoid extraction and edible based projects indefinitely, while providing safe nutritious food

Naturally Splendid Enterprises Ltd (CVE:NSP) (OTCMKTS:NSPDF), the hemp food and ingredients company, said Wednesday that it has engaged AMZing Marketing Consulting to help expand its e-commerce strategy and to launch products on the Amazon.com Inc (NASDAQ:AMZN) website.

The Pitt Meadows, Canada-headquartered company, which develops natural superfood product lines, said its “expanded e-commerce strategy” was in response to the “rapidly changing purchasing habits” of a wide segment of consumers during the coronavirus (COVID-19) pandemic.

“In this time of physical distance, online shopping has increased significantly and is expected to continue,” the company said in a statement.    

READ: Naturally Splendid Enterprises cheers British Columbia naming food supply as essential service during outbreak

The company’s branded products available online will include: Natera Hemp Foods; Chii Hemp Foods; and Natera Sport products such as the just launched curcumin-based supplement, ProCurc.

Naturally Splendid said that e-commerce accounts have been established and “inventory sent to Amazon for distribution”.

Online shopping has become essential for millions of people who are increasingly relying on it for groceries, food, medicines and thermometers. 

AMZing Marketing founder and CEO Tim Wong noted that Naturally Splendid develops “high-quality, nutritious, healthy and convenient products” that consumers are demanding.

“We have been experts in e-commerce for over 15 years and I fully expect these products will be well received by online consumers, especially in current times,” said Wong.

“As we all come to the realization that physical distancing is an integral component to reducing the impact of the pandemic, we recognize that online shopping can provide a solution to traditional daily activities such as shopping at your grocery store,” he added.

Delivering quality with affordable prices 

Meanwhile, Sally Lyons Wyatt, who is executive vice president and practice leader of client insights for IRI, says that snack companies must balance “price, quality and wellness” to capitalize on growing sales during the coronavirus pandemic.

“The snack industry saw purchasing spike in March as consumers stocked up on food supplies to prepare for stay-at-home orders,” said Wyatt.

For the period between January 20 to March 15, dollar sales skyrocketed compared to the same period a year ago, said the company.

Naturally Splendid vice president J Bryan Carson said Naturally Splendid is aiming to make online shopping easy.

“In these times when there is price gouging going on, Naturally Splendid pledges to keep prices in line with what we currently offer,” said Carson.

“We are being challenged with currency fluctuations as well as other challenges that are testing our price structure. Having said that, our ambition is to provide safe nutritious food, at prices our consumers expect,” he added.

The company said it is suspending all cannabinoid extraction and edible based projects indefinitely. Instead, it will focus on making nutritious bars and bites where there's immediate and long-term consumer demand.

“To enter the edibles market, the company had applied for a dealer’s license which was amended to a processor’s license application. Ultimately this application has not been successful,” said Naturally Splendid CEO J Craig Goodwin.

“The company acquired a late-stage application extraction-based company in Ontario, Canada, and a cannabinoid extraction joint venture in Oregon, in the US. These projects have already been terminated…The company has made the decisive move to dedicate our efforts towards the need for providing safe nutritious food.”

Naturally Splendid has been developing its bars and bites manufacturing capability since it acquired Prosnack in 2017. More recently, the Prosnack manufacturing facility was certified Safe Quality Food Level 2. 

Contact the author Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

Quick facts: Naturally Splendid Enterprises Ltd.

Price: 0.07 CAD

Market: TSX-V
Market Cap: $14.13 m

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