CanaFarma Hemp Products Corp. (CSE: CNFA) (the “Company” or “CanaFarma”) is pleased to announce that it has conducted an analysis of its product sales from its first six months of sales activity (from June to November 2019).
Sales of CanaFarma’s first two products, YOOFORIC™ chewing gum and YOOFORIC™ tincture, commenced in June 2019. CanaFarma has completed this review of its first six months of revenues in order to assess its marketing direct response model. The following customer statistics relative to such period have been noted:
The re-order rate of products by customers in its YOOFORIC™ brand was 68%.
The daily order count was approximately 300 orders per day, which was in line with budget expectations.
The cost to acquire customers or Cost Per Acquisition (“CPA”) was 10% lower than had been budgeted.
The Company’s re-marketing efforts to customers achieved results which were 28% better than projections.
65% of customers also chose to try a second product under the YOOFORIC™ brand, demonstrating a high degree of confidence in our brand equity and credibility.
David Lonsdale, CEO of CanaFarma said, “We are gratified by the response that our customers have shown to our marketing efforts. These results provide us a great deal of confidence in our marketing approach as we look to scale up our marketing and sales efforts in the future.”
About CanaFarma Hemp Products Corp.
CanaFarma Hemp Products Corp. is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market. These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.