VANCOUVER, BRITISH COLUMBIA / ACCESSWIRE / January 27, 2020, / Else Nutrition Holdings Inc. (TSX.V:BABY) (OTCQB:BABYF) (“Else Nutrition“, “Else” or the “Company“), a developer of a real alternative to dairy-based infant nutrition, is pleased to announce the following updates to shareholders.
- A U.S. Market Research Study of 1,858 statistically significant potential customers show very favorable results
- 82% of respondents indicating a favorable view of the Else product concept
- Over 60% Purchase Intent of Else baby formula products.
Else Nutrition concluded a comprehensive U.S. customer study, conducted by Wizer, a leading market research provider. The study assessed the perceptions, needs, and behavior of parents/caregivers regarding their children’s nutrition, and their response to the Else Nutrition product concept. The web-based survey of over 1,858 prospective customers (who are the primary decision-makers regarding household grocery purchases) spanned 13 major U.S. metropolitan areas, including NYC, Los Angeles, Chicago, Boston, Washington D.C., Philadelphia, Miami, San Francisco, San Diego, Seattle, and Portland OR. All surveyed have a child between the ages of 3 months to 3 years of age.
The key findings showed that:
- Over 82% (Top 2 boxes) of respondents react favorably to the Else brand concept.
- Over 60% (Top 2 boxes) of respondents indicated positive Purchase Intent for Else’s baby formula products.
Both metrics show significant favorability compared to benchmarks for consumer goods products.
Additionally, the study confirmed that 40% of current U.S. infant nutrition consumers buy a specialty formulation (i.e. medical/prescribed milk formula, soy-based formula, or sensitive milk formula) for their children. Else Nutrition’s baby formula is the only non-dairy non-soy veritable alternative for this massive, US$2 billion U.S. specialty formula market.1
“These findings are very encouraging as we introduce our product to the U.S. market this year. Additionally, these data points truly signal a shift in the market toward healthy, plant-based, clean label products for babies and children,”
stated Ms. Hamutal Yitzhak, CEO and Co-Founder of Else Nutrition.
“It’s clear that there’s a real need for an alternative. We’ve now validated and have resounding, statistical confirmation from American parents and caregivers that they want these products now. Specifically, we have learned that a nutritious, plant-based and healthy alternative can fill a real gap in the current market, and touch the lives of modern families,”
1 Euromonitor International, September 2018, Baby Food in the US
About Else Nutrition Holdings Inc.
Else Nutrition Holdings Inc. (TSX.V:BABY) (OTCQB:BABYF) (“Else Nutrition“, “Else” or the “Company“) is a mission-driven company focused on revolutionizing infant and toddler nutrition through its 100% plant-based and non-soy alternative to dairy-based baby formula. Winner of the “2017 Best Health and Diet Solutions” award at the Global Food Innovation Summit in Milan, Else’s innovative toddler formula will be launching in the United States in 2020. For more information, visit elsenutrition.com.
Wizer provides the technology framework for consumer-centric organizations. The company integrates consumer intelligence into both tactical and strategic product and marketing decision-making at scale. Wizer’s unique technology is easily tailored. The company provides a complete solution for preparing, analyzing and visualizing consumer data. For more information about Wizer, visit getwizer.com.
TSX Venture Exchange
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Caution Regarding Forward-Looking Statements
This press release contains statements that to the extent they are not recitations of historical fact, constitute “forward-looking statements” within the meaning of applicable securities legislation. Forward-looking statements are typically identified by words such as “will”, “plan”, “hope to”, “intend” or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to: the Company’s commercialization of its products and expected timing, expected go-to-market strategy (including marketing, proposed markets, sales, customer growth, and market position), and industry conditions.
Such forward-looking statements reflect current estimates, beliefs, and assumptions, which are based on management’s perception of historical trends, current conditions, and expected future developments, as well as other factors management believes are appropriate in the circumstances. No assurance can be given that the foregoing will prove to be correct.
Forward-looking statements made in this press release assume, among others, the successful completion of Else’s proposed scale-up for its products, and such statements are intended to apply only to the infant formula market for ages 12 months and above and having all necessary regulatory approval as required by each target market.
Numerous risks and uncertainties could cause the Company’s actual results to differ materially from the estimates, beliefs, and assumptions expressed or implied in the forward-looking statements, including, but not limited to: consumer demand for the Company’s products, whether the Company’s current and future products achieve commercialization, uncertainty regarding material changes in laws and regulations, retention of key personnel, the Company’s ability to expand into global markets and competitive developments.
The foregoing list of factors is not exhaustive, and other risks and uncertainties not presently known, or believed to be material, to management Additional information and other factors that could affect the operations or financial results of the Company are set out in the Company’s Filing Statement dated May 14, 2019, under the heading “Risk Factors” and may be accessed through the SEDAR website (www.sedar.com).
Readers are cautioned not to place undue reliance on any forward-looking statements, which reflect management’s expectations only as of the date of this press release. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
SOURCE: ELSE Nutrition Holdings