As part of its acquisition of ADCO, a major Ohio tobacco marketer, TAAT® now owns three tobacco outlets in North Central Ohio through which the company plans to undertake ongoing consumer research to optimize its retail tactics in stores carrying TAAT® products. . These research initiatives can also be adapted to other stores in ADCO’s Ohio distribution network as well as other stores in TAAT®’s national portfolio of more than 2,700 U.S. retailers from his products.
LAS VEGAS and VANCOUVER, British Columbia, May 27, 2022 (GLOBE NEWSWIRE) — TAAT® GLOBAL ALTERNATIVES INC. (CSE: TAAT) (OTCQX: TOBAF) (FRANKFURT: 2TP) (the “Company” or “TAAT®”) is pleased to announce that the Company will integrate ongoing consumer studies with adult smokers at the three tobacco outlets operated by ADCO Distributors, Inc. (“ADCO”), a major tobacco distributor in Ohio which has been acquired by TAAT® as announced in a press release dated release May 20, 2022. All three stores in North Central Ohio carry a standard line of tobacco products, including popular brands of cigarettes (for example, Marlboro, Newport, Camel) in addition to the three TAAT® varieties. With the direct control that TAAT® now has over the management of these three stores, the Company plans to launch store-level initiatives to gather feedback from adult smokers in various situations (for example, being offered TAAT® in addition to an in-demand former tobacco product). TAAT® believes this approach to consumer research could be much more insightful and cost-effective compared to using a third-party service provider.
Although the Company previously commissioned a study of adult smoker consumers to assess their perceptions of TAAT® both in concept and as an actual product (as detailed in a press release dated April 14, 2021), the new approach of conducting passive in-store studies on a first-hand basis is expected to capture an unprecedented level of detail in the tobacco or consumer packaged goods (“CPG”) categories. Given the routine nature of tobacco cigarette purchases by adult smokers who already have a specific brand preference, there are quite limited opportunities to observe the actual transaction process as it occurs or intervene with recommendations to also buy alternative products such as TAAT®. The Company therefore plans to leverage the unique search capabilities offered by the presence of in-house tobacco outlets to further optimize its retail strategies within the tobacco category.
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TAAT® Founder, Joe Deighan, commented, “Most brands have very little visibility into their product’s performance at the point of sale, especially when compared to competitors’ products. While some insights can be gained at a macro level through metrics such as analytics records and certain quantitative data points, there is no substitute for being able to observe your target customers firsthand as they consider or perform a purchase. Now that TAAT® has three tobacco outlets in Ohio, we are able to deploy custom in-store research initiatives to help us better understand how adult smokers respond when offered TAAT®. By actively understanding what factors could be contributing to any potential objection or hesitation to try TAAT®, we are able to refine our retail strategies to overcome some of these pain points with the goal of boosting our conversion rates. We are very excited to launch these in-store research programs which I believe could have a significant impact on the marketing of TAAT® as a better, nicotine-free alternative to tobacco cigarettes. »
On behalf of the Company’s Board of Directors,
TAAT® GLOBAL ALTERNATIVES INC.
Joe Deighan, COO and Director
For more information, please contact:
TAAT® Investor Relations
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About TAAT® Global Alternatives Inc.
TAAT® develops, manufactures and distributes alternative products in categories such as tobacco, hemp, kratom and other emerging segments of the CPG industry. Its flagship product is a nicotine-free, tobacco-free cigarette with a patent-pending base material formulation, sold in more than 2,700 stores in the United States. With over $80 million CAD in overall net revenue in 2021, TAAT® facilities include a manufacturing facility in Nevada, as well as a distribution center and multiple convenience stores in Ohio.
For more information, please visit http://taatglobal.com.
This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. Often, but not always, forward-looking information and information can be identified by the use of words such as “anticipates”, “expects” or “does not expect”, “is expected”, “estimates “, “intends to”, “anticipates” or “does not anticipate”, or “believes”, or variations of these words and expressions or declare that certain actions, events or results “may”, “might” , “would”, “might” or “will” take, occur or be achieved. The forward-looking information in this press release includes statements regarding the anticipated performance of TAAT® in the tobacco industry, in addition to following: of ADCO and the potential results of such research. Forward-looking information reflects management’s current expectations based on currently available information and is subject to a number of risks and uncertainties that could cause that the results s differ materially from those discussed in the forward-looking information. Although the Company believes that the assumptions and factors used in the preparation of forward-looking information are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur within the time periods disclosed or not. at all. Factors that could cause actual results or events to differ materially from current expectations include: (i) adverse market conditions; (ii) changes in the growth and size of tobacco markets; (iii) changes in the regulatory landscape applicable to the Company’s activities; and (iv) other factors beyond the Company’s control. The Company operates in a rapidly changing environment. New risk factors emerge from time to time, and it is impossible for the management of the Company to predict all risk factors, nor can the Company assess the impact of all factors on the business of the Company. Company or the extent to which any factor, or combination of factors, could cause actual results to differ from those contained in the forward-looking information. The forward-looking information included in this press release is made as of the date of this press release, and the Company expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. , except as required by applicable law.
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