- Eat Well Group has engaged Avenue7Media, a leading digital merchandising agency, to develop the online snacking platform for Eat Well Group portfolio products
- The platform, scheduled for delivery in Spring 2022, will help Eat Well grow its portfolio investment, brands, and consumer products, through Amazon.com
- The snacking culture has grown over the last few years, and e-commerce has offered a convenient avenue to shop for snacks
- Eat Well Group has also engaged several other service providers as it looks to expand its North American and European digital and market awareness campaigns
Over the recent years, a growing number of people have preferred snacking to taking a full meal. In 2019, for instance, 59% of global adults opted to eat many small meals spaced throughout the day, instead of a few large meals, according to a report (https://ibn.fm/vC6Fx).
The figure grew even more in 2020, with The State of Snacking in 2020 report detailing that 88% of global adults say they are snacking more than before. The pandemic is cited as the leading cause of the uptick, with other reasons being the reduced cost of snacks compared to full meals, which made snacks a substitute food, and their utility as a supplement in between meals (https://ibn.fm/XTb9S).
As the COVID-19 pandemic ravaged the world, forcing people into isolation, comfort became a priority. Many people began buying snacks due to nostalgia or because snacking brought them moments of peace and brightened their day. It was also considered a remedy for loneliness.
Accordingly, this demand spawned increased e-shopping. For instance, roughly half (47%) of global adults started to purchase snacks online more often than they did offline, 69% of whom say they would extend this trend post-pandemic.
To tap into this burgeoning demand for snacks, vertically integrated plant-based foods company Eat Well Investment Group (CSE: EWG) (OTC: EWGFF) has engaged Avenue7Media (“Ave7”) as its lead Amazon digital merchandising agency. Ave7, which in fact established, through its proprietary technology stack, that online snack sales continue to grow 3-5x the offline sales rates, will focus on the growth of Eat Well’s portfolio investments, brands, and consumer products, through Amazon.com (https://ibn.fm/koT2b).
Specifically, Ave7 will develop the online snacking platform for Eat Well Group’s portfolio products, including Sapientia Technologies’ “plant-based Cheeto” and Amara Organic Baby Foods shelf-stable products, with delivery in Spring 2022. The platform will aim to exploit the efficient and powerful distribution capabilities of e-commerce.
“The team at Avenue7Media are operators with a digital merchandising mindset,” commented Eat Well Group CEO and Director Marc Aneed. “We chose to partner with them because they understand Amazon from the technology, shopping behavior, financial, and logistics angles simultaneously. We can’t wait to drive significant growth for years to come.”
Jason Boyce, Founder and CEO of Ave7, expressed his enthusiasm at the growth potential for Eat Well Group’s investment portfolio of snacks online, further noting that “With the snack market being a multi-billion-dollar sector, plant-based good-for-you snacks can become dominant online.”
Analysts at Mordor Intelligence estimate that the global snack food market, which was valued at $427.02 billion in 2020, will grow at a CAGR of 3.37% between 2021 and 2026 (https://ibn.fm/KuLU5). Citing the increased demand occasioned by the pandemic, the report underlines that the convenience and portability of snacks have propelled their increased consumption. “Convenience is also driving online sales of ready-to-eat snacks, with snack foods being one of the top food categories purchased through the e-commerce channel,” it highlights.
For more information, visit the company’s website at www.EatWellGroup.com.
NOTE TO INVESTORS: The latest news and updates relating to EWGFF are available in the company’s newsroom at https://ibn.fm/EWGFF
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