Vancouver, British Columbia--(Newsfile Corp. - September 1, 2020) - Better Plant Sciences Inc. (CSE: PLNT) (OTCQB: BOSQF) (FSE: YG3) ("Better Plant") or (the "Company") announces that it has signed an eCommerce lease agreement on August 31, 2020 to take over the day-to-day sales of all Jusu Life and Jusu Body products, commencing today. The eCommerce lease agreement, along with an inventory purchase, will allow Better Plant to book revenues from all eCommerce and wholesale sales of over 200 JUSU plant-based products for body, baby and home as of September 1, 2020. The Company plans to complete the acquisition of other JUSU assets, as announced August 18, 2020, over the next few months.
Better Plant Sciences Adds eCommerce Sales of 200 Plant-Based Products Through Agreement with JUSU
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Pursuant to the eCommerce lease agreement, Better Plant has taken over the management of JUSU direct eCommerce, Amazon and wholesale distribution, with the aim to optimize and grow JUSU's direct-to-consumer, eCommerce sales. The Company is purchasing certain existing inventory for a fee of $25,000 and will also purchase all future inventory to fulfill all sales at a 35% discount to the consumer price of the products.
"Currently, thanks to JUSU's loyal customer base, its product sales revenues currently sit at approximately $40,000 in monthly sales with a return eCommerce customer rate of 28%. This does not include juice sales or other revenue from JUSU Bar, and no money has been spent on advertising to date to generate these sales. We believe that we can increase revenues significantly by leveraging enhanced digital marketing programs and influencer marketing," said Gabriel Villablanca, Better Plant's Director of eCommerce and Digital Marketing.
The Company plans to launch an extensive influencer marketing campaign with a focus on micro-influencers in North America for JUSU, leveraging Urban Juve's existing network of influencers. The program will involve a large volume of partnerships using a combination of affiliate, contesting, and content-based programs. The Company also plans to increase efforts related to customer engagement to leverage its current customer base to increase customer lifetime value. This will include email and text-based marketing to upsell and encourage repeat purchases, and will also include expanded product offerings such as bundles and subscription models.
"With more people staying at home and with the increased awareness around health, immunity, and wellness, there is an opportunity to build JUSU's direct-to-consumer business of plant-based home, body and baby products," added Villablanca. "We want to become a customer-first organization that makes its decisions based on data and what's good for the customer. Using data, we will ensure we have the right products for our customers, at the right time, as well as use it to influence further product launches. Data will drive our decisions enabling us to make better choices, provide better products, and be a better company to our loyal customers."
CCInsights.org reported that U.S. eCommerce year-over-year revenue growth was up 68% as of mid-April, surpassing a 49% peak in early January. It was also reported that there was 129% year-over-year growth in U.S. and Canadian eCommerce orders as of April 21, as well as 146% growth in all online retail orders.
About Better Plant Sciences Inc.
Better Plant develops and acquires intellectual property and other assets related to plant-based products and therapeutics. Through its integrated business model, Better Plant develops, manufactures, markets, sells and distributes a large variety of innovative plant-based products. It has 14 patent applications to protect its Intellectual Property, and over 200 proprietary wellness formulas at various stages of commercialization, including over 20 proprietary products that are now for sale via eCommerce or brick and mortar retail stores. It operates websites and oversees e-commerce and Amazon sales for over 200 JUSU plant based products for body, baby and home. Its majority-owned subsidiary NeonMind Biosciences Inc. is launching a line of coffees infused with health optimizing medicinal mushrooms including reishi, cordyceps, lion's mane and turkey tail mushrooms. NeonMind is also engaged in research into developing a psilocybin (psychedelic mushroom) based product for weight loss and has applied to Health Canada for a Section 56 Exemption to begin preclinical trials to study its pending psychedelic medicine patents.
Penny White, President & CEO
Investor Relations Contact:
Kevan Matheson, Investor Relations
The Canadian Securities Exchange has not reviewed, approved or disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes forward-looking information and statements (collectively, "forward looking statements") under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates, forecasts, beliefs and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such risks, uncertainties and factors include, but are not limited to: risks related to the development, testing, licensing, brand development, availability of packaging, intellectual property protection, reduced global commerce and reduced access to raw materials and other supplies due to the spread of the Coronavirus, the potential for not acquiring any rights as a result of the patent application and any products making use of the intellectual property may be ineffective or the company may be unsuccessful in commercializing them; and other approvals will be required before commercial exploitation of the intellectual property can happen. Demand for the company's products, general business, economic, competitive, political and social uncertainties, delay or failure to receive board or regulatory approvals where applicable, and the state of the capital markets. Better cautions readers not to place undue reliance on forward-looking statements provided by Better, as such forward-looking statements are not a guarantee of future results or performance and actual results may differ materially. The forward-looking statements contained in this press release are made as of the date of this press release, and Better expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.
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