#CBD #Stock News:
SinglePoint (OTCQB: $SING) Provides Update on 1606 Hemp Direct to Store Sales
Strategy; @_Singlepoint_
·
64% increase in orders
compared to the previous month
·
130 new retail accounts pick
up 1606 Hemp
·
Increased sales footprint
into 7 additional states
·
Reorders and additional
product stock shipments have commenced
·
Average sale size increased
42%
Phoenix, Arizona - May 13, 2020 (Investorideas.com
Newswire) SinglePoint, Inc. (OTCQB: SING) recently launched a new strategic direct to store (DSD) sales
initiative focused on initial product placement and market penetration within
convenience stores and smoke shops in the domestic US market. This DSD strategy
is designed to enhance sales, initial product placement and augment existing
traditional retail distribution sales efforts leveraging the recent
introduction of the new countertop displays. The Company recently hired
multiple representatives to facilitate the placement of 1606 Hemp in specific retail locations and has the
ability to closely monitor the sales activity and results through this direct
contact with each retail location. Results have been positive as the 1606 Hemp
product placement efforts quickly moved past an internal sales milestone
shortly after implementing the DSD sales strategy. The phase one Direct Store
sales strategy is focused on self-generated store acquisition by hiring
professional sales representatives to contact accounts directly with the goal
of acquiring a minimum of 250 additional retail accounts across multiple
states. The company has acquired over 130 new retail accounts across 7 states
solely attributed to this DSD effort and has already received some reorders from
these new retail accounts.
Read this news featuring SING in full at https://www.investorideas.com/CO/SING/news/2020/05131-1606Hemp-StoreSalesStrategy.asp
·
1606 Hemp has seen a sales growth rate of 133% this
quarter over the previous
·
233% growth in sales up to this point of the month
compared from the previous month at the same point.
SinglePoint management believes 1606 Hemp has the ability to generate approximately
$2,750,000 to $5,500,000 in annual sales revenue of 1606 Hemp per 1,000 active accounts. Once the phase one
goals (250 new retail accounts) have been achieved and the results analyzed and
adjusted accordingly the Company will plan on entering the next phase which
would focus on the acquisition of 2,500 stores and to increase and enhance the
reorder rate from existing accounts.
SING: 1606
Hemp Six Pack
1606 Hemp was designed to be the premium brand in
the combustible hemp market which is the second fastest growing market in the
hemp category. 1606 Hemp continues to innovate and differentiate itself as
evidenced by the recent introduction of a six pack point of sale display unit
designed to be placed on countertops or next to the register retail locations
across the nation. Our filtered pre-rolls are made from broad spectrum American
grown, harvested and cured hemp flower. Less than 0.3% THC and nearly 20% CBD
in each pre-roll, they provide a smooth alternative to tobacco products. We use
sustainable farming techniques, biodegradable filters and third party tests for
quality, compliance and safety.
BDS Analytics and Arcview Market Research projects
that the collective market for CBD sales in the U.S. will surpass $20 billion
by 2024 while New York-based investment bank Cowen & Co, estimates that the
market could pull in $15 billion by 2025. The combustible hemp market currently
represents approximately 2% of the overall CBD market, but with a 250% growth
from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research
firm, identifies dried and combustible hemp flowers as one of the
fastest-growing segments of the CBD market. With the passage of the 2018 Farm
Bill and the mainstreaming of CBD hemp, the market is growing rapidly. There is
a significant need for reliable suppliers with the capacity to market and
produce products available at retail or direct to consumers.
About SinglePoint, Inc.
Founded in 2011 SinglePoint, Inc (SING) invests in
and acquires brands and companies that will benefit from injection of growth
capital and our sales and marketing expertise. Our portfolio currently includes
solar, hemp and technology applications. We are working to grow the company to
a multinational brand.
Connect on social media at:
Forward-Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under the Securities
Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are
subject to the safe harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without limitation,
statements regarding potential future plans and objectives of the Company, are
forward-looking statements that involve risks and uncertainties. There can be
no assurance that such statements will prove to be accurate and actual results
and future events could differ materially from those anticipated in such
statements.
Technical complications, which may arise, could
prevent the prompt implementation of any strategically significant plan(s)
outlined above. The Company undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after the date of
this release.
KEYWORDS: Combustible Hemp, Hemp, Smokable Hemp,
Hemp Cigarettes, Hemp CBD, CBD, Exciting new markets, Emerging Markets
Corporate Communication
SinglePoint Inc.
888-OTC-SING
investors@SinglePoint.com
SinglePoint.com
888-OTC-SING
investors@SinglePoint.com
SinglePoint.com
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