Eat Well Group Engages Leading Digital Merchandising Agency Avenue7Media to Drive Amazon Sales of Portfolio Products
Eat Well Investment Group Inc. (the “Company” or “Eat Well Group” or “EWG”) (CN:EWG) (US:EWGFF) (FRA:6BC0) is pleased to announce the engagement of Avenue7Media (“Ave7”) as its lead Amazon digital merchandising agency, focused on the growth of Eat Well’s portfolio investments, brands and consumer products, through Amazon.com.
According to the “Amazon Advertising Report,” 74% of U.S. consumers start searching for a product on Amazon, with 56% claiming that, if only able to buy from one store, they would choose Amazon.1 Today the eCommerce giant drives approximately $30 billion USD in online grocery sales2 and remains an integral component of Eat Well Group and its portfolio investments omni-channel distribution strategy.
With its winning products that include Sapientia Technologies’ “plant-based cheeto” and Amara Organic Baby Foods shelf-stable products, eCommerce is an efficient and powerful distribution channel. Ave7 has been engaged to develop the online snacking platform for Eat Well Group’s portfolio products, with delivery in Spring 2022, as snacks continue to grow 3-5x the offline sales rates according to internal data analytics through Ave7’s proprietary technology stack.
“We are very enthusiastic about the growth potential for the Eat Well Group’s investment portfolio of snacks online, for the long-term,” said Jason Boyce, Founder and CEO of Avenue7Media, a Los Angeles-based firm, who has successfully started and sold two prior Amazon platforms of his own, before creating this next-generation digital merchandising company to help brands in hypergrowth. “With the snacks market being a multi-billion-dollar sector, plant-based good-for-you snacks can become dominant online.”
“The team at Avenue7Media are operators with a digital merchandising mindset,” stated Marc Aneed, CEO and Director of Eat Well Group. “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,” continued Aneed.
Additionally, the Company is pleased to announce that it will expand its North American and European digital and market awareness campaigns on behalf of its portfolio companies, including press initiatives, advertising, and social media. These marketing and awareness programs include both existing engagements with arm's-length parties and new engagements for an aggregate gross expenditure of $997,000. The Company has engaged the following service providers to support growth of its portfolio investments: