NAMASTE ANNOUNCES RECORD SALES IN AUGUST OF C$1.43M
September 07 2017 - 12:34PM
InvestorsHub NewsWire
September 07, 2017 -- Vancouver, British Columbia,
Canada -- InvestorsHub NewsWire -- Namaste
Technologies Inc. (“Namaste” or the
“Company”) (CSE:N)(FRANKFURT:M5BQ)(OTCMKTS:NXTTF)
is pleased to announce August 2017 unaudited sales as reported by
the Company (including shipping revenues and after discounts and
refunds) were CAD$1,426,755 which represents the Company’s all-time
record in monthly sales.
The total unaudited sales in August 2017 can be compared to
CAD$1,196,971 in July 2017, a 19% increase. The increase in
revenues was driven due to a 516% increase in sales through
channels (eBay, Amazon) and a 43% increase in wholesale revenues.
Namaste Vapes revenues increased by 15%.
The table below displays a revenue breakdown for Namaste’s sales
channels:
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The following table details selected data for traffic,
conversion rates, order quantities, basket prices and related
revenues:
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Namaste has seen growth in revenue during what are typically the
slowest months of the year for e-commerce businesses.
Implementation of various machine learning algorithms on only 4 of
its 30 sites has resulted in significant improvement in conversion
rates and page values. The machine learning algorithms are used on
product landing (category) pages and adjust the content of the
page, based on the user’s on-site browsing history, product
categories and price points. The landing pages which have the
algorithms installed will display differently for every user that
visits the site. Namaste has seen an immediate and direct impact on
conversion rates resulting from the implementation of these
algorithms on select landing pages. Namaste plans to implement the
same technology across its entire platform of sites starting
September 15, 2017 and with a brand new design.
Management Commentary
Sean Dollinger, President and CEO of Namaste comments: “We are very
excited to make this announcement on the progress of activities
with our CannMart facility. We are also very much looking forward
to working with the teams from both David Hyde & Associates and
Eurofins Experchem Laboratories Inc. to consult for CannMart during
this stage and once operations at the Facility begin.”
About Namaste Technologies Inc.
Namaste Technologies Inc. is an emerging leader in vaporizer and
accessories space. Namaste has 26 ecommerce retail stores in 20
countries, offers the largest range of brand name vaporizers
products on the market and is actively manufacturing and launching
multiple unique proprietary products for retail and wholesale
distribution. The Company is currently focused on expanding its
product offering, acquisitions and strategic partnerships, and
entering new markets globally.
On behalf of the Board of Directors
“Sean Dollinger”
Chief Executive Officer
Direct: +1 (786) 389
9771
Email: info@namastevapes.com
Further information on the Company and its products can be accessed
through the links below:
www.namastetechnologies.com
www.namastevaporizers.com
www.namastevaporizers.co.uk
www.everyonedoesit.com
www.everyonedoesit.co.uk
www.australianvaporizers.com.au
FORWARD LOOKING INFORMATION This press release contains
forward-looking information based on current expectations. These
statements should not be read as guarantees of future performance
or results. Such statements involve known and unknown risks,
uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from those
implied by such statements. Although such statements are based on
management's reasonable assumptions, Namaste assumes no
responsibility to update or revise forward looking information to
reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions
on which the forward-looking statements are based are reasonable,
undue reliance should not be placed on the forward-looking
statements because the Company can give no assurance that they will
prove to be correct. Since forward looking statements address
future events and conditions, by their very nature they involve
inherent risks and uncertainties. These statements speak only as of
the date of this press release. Actual results could differ
materially from those currently anticipated due to a number of
factors and risks including various risk factors discussed in the
Company's disclosure documents which can be found under the
Company's profile on www.sedar.com. This press release contains
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such forward
looking statements are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. The CSE
has neither reviewed nor approved the contents of this press
release.
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Copyright © 2017 Namaste
Technologies Inc., All rights reserved.
Our mailing address is:
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