Smart for Life, Inc SMFL reports high revenue growth via online sales channels.
What Happened? Smart for Life, a global firm in the health & wellness sector, marketing and manufacturing nutritional foods and supplements worldwide, accomplished a 171% growth in Amazon.com Inc AMZN sales on a year-over-year basis, and its most significant sales for Amazon Prime Day across all Smart for Life products, more than double its previous best day of Amazon revenue historically.
Why Does It Matter? Smart for Life CEO Darren Minton said, "This established growth of our business through online sales, including Amazon Prime, demonstrates our ability to capitalize on meaningful drivers for organic growth. This supports Smart for Life's vision and commitment to bringing our health and wellness products to new customers in the United States and around the world as we continue expanding awareness of our brand."
Smart for Life achieved these record Amazon sales for Amazon's Prime Day initiatives this past month, on July 12 -13, 2022. During the event, Smart for Life sold thousands of protein bars, gummies, cookies, and other Health & Wellness products through Amazon, resulting in the highest ever Amazon Prime Day sales. Smart for Life is also gearing up for Amazon's annual Fall Deal Event later this year.
"Amazon has been a fantastic sales channel for us as we continue to hit on all cylinders with our omnichannel marketing initiatives," continued Mr. Minton. "We are progressively growing our sales, both organically as well as through our buy-and-build M&A strategy.
This includes the domestic market in the United States, as well as in Canada, Mexico, and Singapore, where we previously announced that our products were selected by Amazon to be included in their rollout in South-East Asia. We look forward to keeping the market apprised of our milestones and latest developments as they occur."
Price Action: SMFL shares traded lower by 1.64% at $0.60 premarket on the last check Thursday.
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