NightFood Sales Surge 52% Month Over Month in Advance of E-Commerce Launch
TARRYTOWN, NY -- (Marketwired) -- 09/05/17 -- NightFood Holdings, Inc. (OTCQB: NGTF), a fully reporting "better-for-you" snack company, announced an increase in product sales of 52% from July to August according to Amazon reports. Monthly income (where Amazon accounts for items such as sales promotions and refunds) increased 78% month to month.
Two months into the current quarter, NightFood sales are already up over 800% compared to three full months of revenues in the same quarter last year.
Amazon sales, which began when NightFood 12-packs were first listed in early June, currently make up approximately 95% of Company revenue. But Amazon is intended to be a secondary piece of the Company's overarching E-commerce launch taking place right now. Leading consumer goods online sales agency Common Thread Collective (CTC) has been engaged to develop and oversee NightFood's digital strategy, creative assets, and new website, all expected to launch later this month.
Current CTC clients include Lululemon, Cardiff Skate Co., Axe Bat, The North Face, and QALO. Specializing in the active lifestyle consumer goods space, CTC combines branded content, social media, and influencers to drive awareness, brand affinity, transactions and revenues.
"What we're so excited about is not the dollar amount of the sales, but the trajectory and metrics, along with consumer response and insights," commented CEO Sean Folkson. "The idea of people buying snacks online without ever having tried them was the single biggest concern the CTC team had about our account. We've proven that consumers can go from hearing about NightFood for the first time on social media, to a paid order, in a matter of minutes. And, the reviews and reorders show us that people love our snacks."
Gross Amazon sales increased from $10,891 in July to $16,581 in August. During this time, Facebook ad spend also increased by 52%, but the Company spent 33% less on consumer discounts and Amazon promo codes.
Folkson added, "These numbers are unaudited, but we have supreme confidence in Amazon's reporting. It's clear that more consumers are spending more money on more NightFood, and the increase in each area is significant."
With its expertise and track record of successfully scaling awareness and revenues of consumer brands online, the Company believes that CTC can deliver media efficiency metrics of 2-3x what the Company has achieved to date. This would result in a profitable, stand-alone, and scalable direct-to-consumer business segment. The Company will then shift focus back to expanding NightFood retail distribution with a broader product line.
"I think it's a safe bet that CTC will double our media efficiency in short order. This will allow us to invest more heavily in advertising, growing revenues exponentially over the next several months," continued Folkson. "Our goal is to have our first $100,000 month before end of the calendar year."
NightFood (OTCQB: NGTF), "The Nighttime Snack Company", is a snack food company dedicated to providing consumers delicious, better-for-you, sleep-friendly choices for evening snacking. 44% of snack consumption occurs at night, representing a consumer spend of over $1B weekly on nighttime snacks. NightFood creates, manufactures, and distributes snacks which help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way. For more information, visit http://ir.nightfood.com and www.nightfood.com
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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.
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Source: NightFood Holdings, Inc.
Released September 5, 2017