- Plant-based foods gain popularity as shoppers focus more on health, well-being during COVID
- U.S. online grocery sales rose from $1.2 billion in August 2019 to $7.2 billion in June 2020
- More than 5,000 plant-based products are available through PlantX’s online grocery store, with more being added daily
PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) has become the digital face for the plant-based community, providing a one-stop-shop for everything plant based. There was a time when being vegan or vegetarian made it difficult to find quality items — that time has passed, thanks in large part to companies such as PlantX.
Even before COVID-19, a growing numbers of consumers were opting for plant-based lifestyles. However, during the global pandemic, the market is exploding, as growing numbers of shoppers focus on healthier cooking, eating and living (https://ibn.fm/b4hW9). Experts predict that, even as the pandemic eases, the trend toward health and well-being will continue, along with a shift in consumer tastes and spending habits.
In the past the plant-based consumer was primarily a vegan and vegetarian shopper, but today’s grocery space is seeing a trend toward flexitarians. This is a group of people who seek to add additional plant-based products to their diet for a variety of reasons including taste, environment, health, animal welfare, etc. They have not necessarily given up meat altogether but are transitioning to a more plant-forward plate.
Another change seen during the pandemic was the uptick in online grocery shopping. At the beginning of the pandemic, 81% of consumers had never purchased groceries online. That number flipped in 2020, and now 79% of consumers have ordered their groceries online. In the United States, online grocery sales rose from $1.2 billion in August 2019 to $7.2 billion in June 2020 (https://ibn.fm/GIdoc).
That increase is certainly being reflected in the numbers reported by PlantX; the company saw a 298% increase in revenue from Q2 to Q3 2020 (https://ibn.fm/P3mKi), positioning the trend-setting company as one of the fastest-growing leaders in the plant-based industry. At least part of that growth likely stems from the company’s vast lineup of grocery offerings. More than 10,000 plant-based products are listed in the online store, with more being added daily (https://ibn.fm/rfplx). The company offers shopping sites designed for both U.S. and Canadian consumers.
The PlantX e-commerce shopping experience is designed for ease of use and offers high-quality, plant-based products that cover all grocery needs; consumers can find frozen, refrigerated and pantry items from more than 350 different brands, including some of the most popular such as Beyond Meat, Earth Balance, Silk and more.
The online grocery shopping experience includes diverse product categories such as frozen fruits, desserts, breads and entrees; condiments and dressings, cereal, soups and snacks; and beverages, dairy and egg alternatives, and dips. Shoppers can even find personal care, vitamins and pet food items. And most important: consumers can rest easy knowing that every product offered is plant based, wholesome, nutritious and fresh.
Plant-based products have proven to be a key component in the growth of food companies and retailers, and PlantX is capitalizing on the impressive market growth. In the near future, the company plans to add its own PlantX-branded goods to the site and is even eyeing expansion into international distribution. While many industries slowed during the pandemic, the plant-based food industry — and PlantX — experienced record-breaking growth, growth that appears likely to continue as consumers remain committed to healthier lifestyle choices.
For more information, visit the company’s websites at www.PlantX.com, www.PlantX.ca and https://investor.plantx.com/ and view PlantX for Plant-Based Investors. To visit the company’s YouTube channel, click here.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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