Edison Nation Embraces Growing E-commerce Market
July 09 2020 - 7:30AM
Edison Nation, Inc. (NASDAQ:EDNT) a multifaceted ecosystem
fostering innovation and driving IP, media and consumer products,
capitalizes on thriving e-commerce environment.
E-commerce’s dominance over physical retail has
been clearly demonstrated by a 18.8% YoY increase in sales during
the 2019 holiday season according to Mastercard. Recent
stay-at-home orders and store closures propelled Amazon’s traffic
to new heights, seeing 2.54 billion visitors in March, a 65% YoY
increase according to online research company Comscore.
Edison Nation’s product portfolio is well
positioned to cater to the new realities of life at home, with
products largely centered around arts and crafts, kitchen and
baking, and baby products. Our Amazon sales saw a 75% YoY increase
in April, a 95% YoY increase in May and daily volumes nearing those
that were seen during the Q4 holiday season. Our newly released
Lily & Grey branded 6-in-1 cake stand is now the number one
ranked item in “cake stands” on Amazon.
“We are realizing the benefits of our
investments in E-commerce and Amazon over the past 12 months,”
explained Edison Nation Chief Executive Officer, Chris Ferguson.
“We are working to launch new products designed for success through
E-commerce channels including sensory plush items for children,
kids foam tumblers, outdoor blankets and safety & security
items.”
About Edison Nation, Inc.
Edison Nation, Inc. (EDNT), is a multifaceted
ecosystem which fosters innovation and drives IP, media and
consumer products. Edison offers innovation sourcing, product
design, sales, manufacturing, and fulfillment services. Edison
Nation’s model is to source innovative ideas to launch internally
or license to brand partners. Edison Nation hopes to leverage its
television property, Everyday Edisons, to become the recognized
leader in the innovator community. For more information, please
visit www.edisonnation.com.
Forward-Looking Statements
This press release contains forward-looking
statements that involve substantial risks and uncertainties. All
statements, other than statements of historical facts, included in
this press release regarding strategy, future operations and plans,
including assumptions underlying such statements, are
forward-looking statements, and should not be relied upon as
representing the Company's views as of any subsequent date. Such
forward-looking statements are based on information available to
the Company as of the date of this release and involve a number of
risks and uncertainties, some beyond the Company's control, that
could cause actual results to differ materially from those
anticipated by these forward-looking statements, including
consumer, regulatory and other factors affecting demand for the
Company's products, any difficulty in marketing the Company's
products in global markets, competition in the market for consumer
products, any inability to raise capital to fund operations and
service the Company's debt. Additional information that could lead
to material changes in the Company's performance is contained in
its filings with the SEC. The Company is under no obligation to,
and expressly disclaims any responsibility to, update or alter
forward-looking statements contained in this release, whether as a
result of new information, future events or otherwise.
Investor Relations: Aimee
Carroll Phone: (484) 893-0060
Email: Investors@edisonnation.com
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