- Since the advent of the COVID-19 pandemic, plant-based meat sales have grown — initially 63 percent over 2019 levels during panic buying and now at a more stable 30 percent rate
- PlantX Life’s e-commerce and plant-based community sustaining presence online serves plant-based lifestyle customers with a growing one-stop shopping operation
- The company’s varied educational efforts online provide interested consumers with information on transitioning to the plant-based lifestyle, recipes that are tasty and nutritious, and how to find support among others with similar interests in sustaining a healthy lifestyle
- PlantX markets over 5,000 products currently and store acquisitions across North America are helping it to build fulfillment centers for its e-commerce operations while also serving local plant-based communities
When the COVID-19 pandemic began to affect corporate staffing levels and overall supply chain issues, leading to stockpile hoarding that left store shelves bare for weeks, consumption of plant-based products grew at a faster rate than conventional meat sales, indicating the hardiness of the plant-based industry.
Meat sales jumped by about 40 percent year-over-year during the initial panic buying while plant-based meat sales surged 65 percent, according to the Good Food Institute (https://ibn.fm/lyqhy).
While the trend has since slowed and plant-based meat sales have fallen off, refrigerated plant-based meat sales in November still remained nearly 30 percent higher than two years earlier (https://ibn.fm/VehMx).
Plant-based product distributor and lifestyle educator PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) is encouraged by analysts’ predictions that the industry will continue to grow, and is placing its own bets on a growing consumer base if consumers can overcome the hurdles associated with upending daily routines that have become simply familiar to them.
“People are just used to the way that they have always eaten. … I think that people are not opposed to change. It’s just that they haven’t really thought about it much, and they haven’t really been presented with the thought of making change and what possible benefits can come along,” Dr. Edward Tam, a hematologist in Vancouver, British Columbia, told PlantX Life’s Medically Speaking YouTube channel (https://ibn.fm/GTx35). “For me, thinking about counseling patients and asking them to consider a different way of eating, it’s more just about introducing the idea of making the change and then talking about what’s going to happen at the end of that – and that’s a healthier life. I think a lot of patients are willing to do it but you’ve just kind of got to give them the steps to take to get there.”
PlantX Life aims to be a one-stop platform for the plant-based industry, providing products, a North America-wide shopping experience and a variety of educational sources for tasty and healthy recipes, in-home plant sustainability, and how to transition toward a more plant-based diet.
The PlantX Vodcast also features interviews with entrepreneurs and business operators who are playing their own roles in helping to build the plant-based community worldwide.
“You don’t want to be stale. You can be old and classic but you don’t want to be old and boring. So it’s a real dance for us to try and evolve in a manner that stays true to who we’ve been for 114 years but allows us to expand and collaborate,” Joyva President Richard Radutzky said during one recent Vodcast, as he discussed the challenges of keeping the legacy business true to customers’ nostalgia while remaining timely.
PlantX expects to have grown to several more store locations by the end of the year, giving the company augmented visibility in communities where plant-based lifestyles are popular while also establishing the footprint for a network of fulfillment centers to sustain e-commerce operations for its more than 5,000 products.
Two of the most recent stores, in the Chicago, Ill., metropolitan area, were acquired from plant-based market and e-commerce platform Peter Rubi and converted to only carrying 100 percent plant-based items on Feb. 15 as part of the PlantX mission (https://ibn.fm/GdXXz). They will also ensure the Midwestern states have an e-commerce hub.
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.
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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