Vancouver, BC – Peekaboo Beans Inc (CSE:BEAN | OTCQB:PBBSF) (the “Company” or “Peekaboo Beans“) is pleased to provide shareholders and investors with an update on the Company’s marketing initiatives and successful transition into its omnichannel business model that has taken course of over 2019. The Company will be hosting a conference call to discuss this update on Thursday June 27, 2019 at 10:00 AM PT.
An increased marketing budget and the opening of a physical retail location have been two of the most significant additions to Peekaboo Beans’ initatives. Return on advertising spend (ROAS) typically averages a ratio of 2:1, however the Company’s recent campaigns have been seeing a significantly higher average of 5:1. The physical retail location has provided the Company with an additional sales and marketing asset and allows for increased engagement with customers through various events and promotions.
The Company has also reported a significant decrease in spend as a result of the omnichannel business model that was implemented late 2018. Retail trends have pushed businesses to appeal to the millennial shopper through an online presence, which powered Peekaboo Beans’ shift from direct sales to omni-channel model. The shift in the business model has significantly reduced operational costs though organization changes and lower software expenses, as well as other initiatives to reduce annual costs and generate higher revenue margins for the Company.
Traci Costa, CEO and President of Peekaboo Beans commented, “The results we are seeing through our increased marketing spend are very exciting as we are outperforming industry results. We have worked hard to transition the business model to expand the distribution of our brand and it has allowed us to continue to cut costs. In 2019 we will continue to focus on the growth through our omnichannel model and focus on building the Peekaboo Beans brand.”
Corporate Update Dial-In
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Meeting ID: 421 863 671
About Peekaboo Beans Inc.
Peekaboo Beans is a children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
To learn more about Peekaboo Beans, visit: www.peekaboobeans.com.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
For more information, please contact the Company at:
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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