Nightfood CEO Sean Folkson Interviewed by Wall Street Reporter -- Discusses Recent Research on the $50 Billion+ Night Snacking Market
Tarrytown, NY, Dec. 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Nightfood, Inc. (OTCQB: NGTF), the award-winning ice cream company addressing America’s $50 billion-dollar nighttime snacking problem, announced today that CEO Sean Folkson was interviewed by Jack Marks of Wall Street Reporter.
In the wide-ranging interview, Folkson commented on recent research results regarding the size of the night snack market, the rollout of Nightfood ice cream in supermarkets and hotels, and the future of nighttime snacking.
When speaking of the more than $1 billion dollars estimated to be spent weekly on snacks consumed shortly before bed, Folkson noted that more than half of consumers expressed dissatisfaction in their own night snacking behavior. He pointed out the opportunity he sees with the combination of a massive consumer spend and a largely dissatisfied and frustrated consumer base.
“More than half of that money that’s being spent, so five hundred million dollars a week, is being spent in a dissatisfied way, by people that want something better that, until now, hasn’t existed,” remarked Folkson. “That speaks to, not only the size of the opportunity, but the immediacy and the motivation on behalf of the consumer, which is really powerful stuff.”
Folkson pointed out that the path to awareness for any new brand takes time, and the main challenge for the company at this stage is to identify the strategies and tactics that will most efficiently and effectively raise the awareness of Nightfood and drive consumer trial.
With the recent launch of the ice cream in Harris Teeter, the brand now has a large enough retailer footprint to implement in-store and online marketing strategies with media partners that were not available earlier in 2019 because the product simply wasn’t in enough retail outlets. Folkson revealed the company recently signed an agreement for the first major Nightfood in-store promotion, which is scheduled to begin in March.
The interview can be heard in its entirety at WallStreetReporter.com
About Nightfood Holdings:
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc.
After manufacturing their first pint in early 2019, Nightfood ice cream has begun establishing a national footprint. The brand has now secured distribution in four of the top fifty supermarket chains in the United States. This includes over 100 locations of the Meijer supermarket chain throughout the Midwest, with concentration around the metropolitan areas of Chicago, Detroit, Indianapolis, Columbus, and Milwaukee, Lowe's Foods, with 78 stores in the Carolinas, and Harris Teeter, with over 250 locations in North Carolina, South Carolina, Virginia, Georgia, Maryland, Delaware, Florida, and the District of Columbia .
On Feb 8, 2019, it was announced that Nightfood ice cream won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers. On June 26, 2019, Nightfood was named Best New Ice Cream in the 2019 World Dairy Innovation Awards.
With the overwhelming majority of at-home ice cream consumption occurring in the hours before bed, Nightfood believes its sleep-friendly nighttime ice cream, formulated by sleep and nutrition experts, is the next evolution in the fast-growing better-for-you ice cream category.
Market research giant Mintel identified nighttime specific food and beverages as one of their most “compelling and category changing” trends for the coming years
To enter the Nightfood® Ice Cream Giveaway, where the Company is giving away a one-year supply of Nightfood ice cream, plus a brand-new freezer to store it in, visit http://nightfoodicecream.com
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company is seeking licensing opportunities to market such products under the brand name “Half-Baked”, for which they’ve successfully secured trademark rights.
Questions can be directed to investors@Nightfood.com
Forward Looking Statements:
This current press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, any products sold or cash flow from operations.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with distribution and difficulties associated with obtaining financing on acceptable terms. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Released December 19, 2019