Namaste Provides Update on Ecommerce Activities
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 10, 2017) - Namaste Technologies Inc. ("Namaste" or the "Company") (CSE:N)(CSE:N.CN)(OTCQB:NXTTF)(FRANKFURT:M5BQ) is pleased to provide an update on its ecommerce activities including the integration of the EveryoneDoesIt platforms and eBay marketplace. The Company has made substantial progress in terms of optimizing the commercial potential of these platforms and continues to focus activities on increasing traffic, conversions and average sale prices, while capturing valuable customer and market data.
Namaste has successfully migrated the EveryoneDoesIt portals to its Shopify platform, and completely revamped the user interface to considerably improve the overall customer experience. This includes reducing page load times from over 3.0 seconds to 1.7 seconds. In addition, the Company's e-commerce team has created a centralized management platform to access and update all product listings and website characteristics seamlessly, across multiple Shopify storefronts. This results in improvements in operational efficiency. Since completing the migration, the EveryoneDoesIt conversions have increased by 15.9% compared to the same period last year. In addition to improved conversions, the average purchase of a customer has improved by 11.0%. The EveryoneDoesIt portals consistently produce monthly site traffic of over 300,000 visits.
The EveryoneDoesIt platforms are now utilizing machine learning algorithms to deliver personalization across onsite searches, product recommendations, and category navigation. By analyzing user activities, Namaste is building a behavioral profile on a per user basis. This profile is used to match products that the algorithm believes the individual user is more likely to purchase. This is a collaborative filtering based algorithm, that essentially creates a "trend aware" dynamic algorithm. This generates search results and category views that change to reflect a user's preferences, therefore displaying products of the highest interest. The utilization of this data is a significant competitive advantage and key differentiator for the Company. This technology will be rolled out to all sites as part of the Namaste portfolio.
The revised site can be accessed by utilizing the link below:
Namaste has received approval to list over 100 products for distribution though eBay Inc. ("eBay"), a global commerce leader that connects millions of buyers and sellers around the world. Going forward, the Company plans to list over 1,000 products for sale, including the latest vaporizers and accessories. Due to the large customer base of eBay and the fact Namaste is one of the only companies to be approved for the distribution of vaporizers through eBay, it is anticipated product sales and revenue generation will increase significantly as the Company continues to add products for distribution. March will be the first full month of having listings live for purchase on eBay.
The current product selection can be accessed by utilizing the link below:
Sean Dollinger, President and CEO of Namaste, comments: "We are very pleased with the initial results received from our relaunch of the EveryoneDoesIt platform and progress made through the eBay marketplace. We view these developments as significant growth catalysts for our Company and we will continue to pursue expansion of these distribution channels in earnest."
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and accessories space. Namaste has 26 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution. The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
On behalf of the Board of Directors
Chief Executive Officer
Further information on the company and its products can be accessed through the link below:
This press release contains forward-looking information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions. Namaste assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this press release. Actual results could differ materially from those currently anticipated due to several factors and risks including various risk factors discussed in the Company's disclosure documents which can be found under the Company's profile on www.sedar.com.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The CSE has neither reviewed nor approved the contents of this press release.
Chief Executive Officer
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