Inventory in Second Iteration of Beyond Tobacco Retail Market Testing Sells Out in Under 72 Hours
In July 2020, Taat undertook a test production run for Beyond Tobacco cigarettes with its manufacturing partner, which confirmed initial production estimations of one million sticks per day. An
allocation of the batch of Beyond Tobacco cigarettes from this test production run was reserved for market research purposes, with the balance to be offered to select retail stores in Nevada that
participated in the Company’s initial retail market testing in early May 2020. Less than 72 hours after the selected stores began selling Beyond Tobacco cigarettes, it was confirmed that their
inventories had been sold out at price points aligned with the Company’s planned pricing strategy. Purchasers continued to provide positive feedback about Beyond Tobacco cigarettes, in addition to
expressing enthusiasm about the planned Q4 2020 launch.
LAS VEGAS and VANCOUVER, British Columbia, Aug. 13, 2020 (GLOBE NEWSWIRE) -- TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) (OTC: TOBAF) (FRANKFURT: 2TP2) (the “Company” or “Taat”) is pleased to announce that after providing inventory of Beyond Tobacco cigarettes from its most recent test production run to select points of sale in Nevada, the participating stores confirmed all of their inventory had completely sold out as of August 12, 2020, less than 72 hours after being made available to purchase. Retail stores in Nevada that participated in the May 2020 retail market testing of Beyond Tobacco cigarettes were offered the limited-time opportunity to order from the remaining supply from the Company’s July 2020 test production run. Because more than 75% of the retailers who carried Beyond Tobacco cigarettes in May 2020 reordered the product after their supply sold out during market testing, the Company anticipated that availing the product to such retailers again this month would allow them to capitalize on this proven demand. The Company would also stand to benefit from additional feedback about Beyond Tobacco cigarettes obtained in connection with sales of the product through these channels. Market reception far exceeded expectations with Beyond Tobacco cigarettes having rapidly sold out at the selected retail stores. Overall, purchasers provided stellar feedback about the product, with many expressing eagerness to purchase Beyond Tobacco cigarettes again after their official launch. In response to this anticipated demand, the management of the selected retail stores indicated they would increase their next orders of Beyond Tobacco by a minimum of 200%.