Hapbee Prepares 2021 Direct-to-Consumer (D2C) E-Commerce Strategy
VANCOUVER, BC, Jan. 25, 2021 /PRNewswire/ - Hapbee Technologies, Inc. (TSXV: HAPB) ("Hapbee" or the "Company"), a wellness technology company utilizing groundbreaking magnetic field technology in its Hapbee wearable, is pleased to announce its 2021 multipronged D2C e-commerce strategy.
"2020 was a year of tremendous growth and learning for our company," said Scott Donnell, Chief Executive Officer of Hapbee. "Over the past several months, our team coalesced valuable insights from marketing test programs and customer feedback to craft what I believe is a top-tier D2C e-commerce strategy. This strategy, which is intended to ramp up in Q2 2021, will play a key role in our planned full-scale commercial launch this year."
Hapbee's D2C e-commerce strategy is centered around three pillars: a seamless and educational "customer-first" purchasing experience; the development of personal, lifelong connections with users; and enhanced wellness market exposure. The Company believes this strategy will enable it to penetrate the rapidly growing wearable technology market, which Grand View Research ("GVR") valued at USD 32.63 billion in 2019. Furthermore, GVR reported in June of last year that the global wearable technology market is projected to expand at a compound annual growth rate (CAGR) of 15.9% from 2020 to 2027.
Hapbee's 2021 D2C E-Commerce Strategy Highlights
Hapbee notes that the customer analytics, feedback, and reviews used in the development of its D2C e-commerce strategy has allowed the Company to identify adjacent market opportunities, which may culminate in the formation of new marketing channels and potentially future products. See the Company's press release dated January 12, 2021 for information about one potential new application currently in the initial phase of prototype development.
D2C E-Commerce Statistics
According to an April 2020 report from eMarketer, 2019 D2C e-commerce sales reached $14.28 billion in the United States. Furthermore, eMarketer forecasted that sales would grow by 24.3% to $17.75 billion in 2020, and that the number of D2C e-commerce buyers in the United States will reach a milestone of 103.4 million by 2022.
Hapbee Companion App Software Update
The Hapbee Companion App is a platform enabling Hapbee subscribers to explore, navigate, and play low-power electromagnetic signals designed to produce sensations. The Company is routinely improving this key platform tool to enhance user experience and overall functionality. Recent updates include Bluetooth auto-reconnect, extended signal playtime, airplane mode functionality, product lighting customization, and a miniplayer.
Hapbee is a wearable magnetic field technology company that aims to help people choose how they feel. Powered by patented ultra-low Radio Frequency Energy (ulRFE®) technology invented and licensed by EMulate Therapeutics, Inc., Hapbee delivers low-power electromagnetic signals designed to produce sensations such as Happy, Alert, Focus, Relax, Calm and Sleepy.
You can learn more about how Hapbee works at www.hapbee.com/science.
Forward-Looking Information Disclaimer
Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This news release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors. Any statements about the size and growth rate of markets or sectors, Hapbee's business plans, e-commerce strategies or its upcoming development targets are all forward-looking information. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including, anticipated costs, and the ability to achieve its goals.
Factors that could cause the actual results to differ materially from those in the forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions, changes in legislation and regulations, increase in operating costs, equipment failures, failure of counterparties to perform their contractual obligations, litigation, the loss of key directors, employees, advisors or consultants and fees charged by service providers. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. These risks, uncertainties and assumptions include, but are not limited to, those described in Hapbee's prospectus dated October 26, 2020, a copy of which is available on SEDAR at www.sedar.com, and could cause actual events or results to differ materially from those projected in any forward-looking statements. 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. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
This news release contains information obtained by the Company from third parties. The Company believes such information to be accurate but has not independently verified such information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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SOURCE Hapbee Technologies Inc.
Company Codes: TorontoVE:HAPB
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