Is This Digital Marketplace An "Amazon" For Vegan Foods?

Photo by Ella Olsson on Unsplash

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In the last decade, veganism has grown from obscurity to part of many American diets.

According to global market research company Ipsos, there are more than 9.7 million American vegans, and market data platform 1010data revealed a 199% annual growth in online alternative meat products in 2020.

With this rise in popularity, it may be valuable for brands focused on consumer packaged goods (CPG) to align with consumer sustainability ethics and list their products on a platform with ethically conscious consumers.

To those businesses and individuals, Vejii Holdings Ltd.’s VEJI VEJIF platform is one example that may be a tempting destination. Vejii’s ShopVejii.com provides consumers with a platform to access thousands of sustainable products and plant-based foods and supports startups scaling their online retail strategies.

Vejii Bites By Numbers:

• Listed on the Canadian Stock Exchange (CSE) and the OTCQB Venture Market 
• Carries more than 3,000 products, including industry leaders like Beyond Meat Inc. BYND and Oatly Group AB OTLY
• Completed acquisition of online vegan grocer VeganEssentials.com, which was voted best vegan store 15 years in a row by Veggie Awards
• Acquired VEDGEco USA Inc.(VEDGEco.com), a business-to-business (B2B) platform for plant-based foods that focuses on serving restaurants and independent grocers, which reportedly enables Vejii to expand its offerings to include B2B wholesale distribution 
• Realized 100% revenue growth in November 2021 as compared to the entirety of the third quarter 
• Projecting $10-12M revenue for 2022, with an anticipated 35-40% Gross Margin

With hundreds of new CPG brands coming to market, Vejii believes there is not enough shelf space in traditional retail stores to accommodate the growth. Vejii reports that its platform can scale well and provides brands with a channel to reach consumers online and through exclusive distribution with VEDGEco.

Acting as a sort of Amazon.com Inc. AMZN for vegan products, Vejii believes its platform gives brand partners access to a national audience of like-minded consumers and supports small and multinational brands with the entire order-to-sales process via its distribution network in the U.S. and Canada.

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This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.