TORONTO, Feb. 27, 2024 /CNW/ - EMERGE Commerce Ltd. (TSXV: ECOM) ("EMERGE", or the "Company"), a premium e-commerce brand portfolio, is pleased to provide the following corporate update, highlighting key growth initiatives and drivers for truLOCAL in 2024.
truLOCAL, our premium meat & seafood subscription brand, and EMERGE's largest business by revenue and profit, is in the process of rolling out a number of initiatives aimed at building on the recent momentum, and driving organic growth in 2024, including:
Corporate Gifting: truLOCAL secured approximately $450,000 in corporate orders in Q4 2023, driven by a large multi-national corporate order (2,000+ employees), in addition to a number of smaller orders from other corporate customers. truLOCAL intends to build out its corporate gifting/ B2B business, positioning truLOCAL subscription boxes as a fresh take on "Employee Perks" and "Client Gifts" with a focus on a healthy diet, while supporting local farmers.
To inquire about corporate orders for your organization, or to learn more about this program, please visit:truLOCAL Corporate Gifts
Customer Acquisition Traction: In January 2024, truLOCAL saw its largest influx of net new customers since Q2 2020 ("peak-pandemic"), with continued traction on the customer acquisition front in Q1 to date. The main driver for these encouraging results is our revamped marketing program and strategy. Given truLOCAL's favorable Customer Lifetime Value ("CLTV") to Customer Acquisition Cost ("CAC"), we intend on accelerating our marketing efforts to drive efficient growth with a focus on high CLTV members at reasonable CACs, rather than seeking one-time customers.
Curated Boxes: truLOCAL has previously seen success with curated boxes during various holidays/ seasonal occasions. We plan to grow our assortment and collaborate with other brand partners, including with truLOCAL sister site, Carnivore Club. Live curated box examples include "Date Night", "Steak Lovers", "Fish Faves" and "Classic Clean and Lean" boxes.
To inquire about brand collaborations, or learn more about the Curated Boxes program, please visit: https://trulocal.ca/curated-boxes
Advertising Program: truLOCAL is in the early stages of rolling out a high-margin, advertising revenue line, leveraging our online and offline distribution coupled with our extended advertising relationships established by other EMERGE brands. truLOCAL members are digitally savvy, health-conscious, and high income. We anticipate strong premium advertiser demand to reach such a prized demographic. To inquire about advertising opportunities, please reach out to info@trulocal.ca
"The recent $450,000 or so in corporate orders is an example of how the truLOCAL brand and business have the potential to extend far beyond our core consumer subscription offering, which itself remains an area of vast growth potential. We fully intend on leveraging the highly respected truLOCAL brand along with our long-standing relationships in the space to unlock new organic growth drivers in the near-term. Between the positive customer acquisition traction we are seeing lately, as well as key initiatives being scaled such as corporate gifting, curated boxes, and our advertising program, we believe truLOCAL is on the right path to not only re-ignite revenue growth again, but to also capture a larger piece of the multi-billion dollar online meat & seafood/ e-grocery opportunity in 2024 and beyond," commented Ghassan Halazon, Founder and CEO, EMERGE Commerce.
About EMERGE
EMERGE (TSXV: ECOM) is a premium e-commerce brand portfolio in Canada and the U.S. Our subscription and marketplace e-commerce properties provide our members with access to unique offerings across grocery and golf verticals. Our grocery businesses include truLOCAL.ca, our premium meat & seafood subscription brand, and Carnivore Club, our artisanal meat subscription brand. Our golf businesses include UnderPar, our discounted golf experiences brand, and JustGolfStuff, our golf products & apparel brand.
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On Behalf of the Board Ghassan Halazon Director, President, and CEO
