New Wave (SPOR.C) to Expand Way of Will on Amazon

New Wave (SPOR.C) has announced plans to expand its brand presence on Amazon’s U.S. and Canada e-commerce platform.

“We’re thrilled to be adding almost our entire assortment of products to both Amazon US and Amazon Canada…The existing products that we’ve had on Amazon for the past years have been well-received, so we’re confident that the new products will be a welcoming addition to our selection. Our goal is to maximize sales by diversifying our sales channels and gain more exposure on different platforms, so we can have a greater reach and prevent dependency on any one channel,” commented Willie Tsang, founder and CEO of Way of Will.

Way of Will is New Wave’s health and wellness brand offering a varied assortment of natural skin care and body care products. Some of Way of Will’s currently available products include massage oil, deodorant, face mask sprays, nail serum, and their Athletic Collection skin-care products. However, new products on Amazon will be rolled out in May featuring hand washes, lotions, face sprays, and face oil serums. Additionally, Amazon U.S. customers get some extra attention with access to Way of Will’s latest collection of Functional Mushroom products.

That’s all fine and dandy, but how is this news significant? The Company’s intent behind increasing its selection on Amazon is to optimize sales and fortify New Wave’s growth strategy. Amazon is undoubtedly a dominant titan in the retail industry with a broad range of products available on its site. With this in mind, it stands to reason that New Wave would find success by increasing its presence on Amazon’s North American platforms. With this in mind, the Company expects to see a 20% increase in growth following the expansion of its Way of Will products.

New Wave’s Way of Will is advertised as being a cruelty-free brand, incorporating all-natural ingredients that are good for the skin. Moreover, the Company has moved towards more eco-friendly packaging to ensure a more environmentally responsible approach to business. A quick search for Way of Will on Amazon is enough to see that the Company’s products are well received by consumers, boasting relatively high ratings across the board.

New Wave’s stock performance isn’t all sunshine and rainbows though. Like many psychedelic companies, New Wave saw its growth skyrocket in relation to the growing popularity and interest in the psychedelic sector. Leading into the new year, the Company saw its trading volume explode to 17.81 million as of December 14, 2020. In the last three months, New Wave’s highest volume of trading was 5.71 million as of February 22, 2021. To put things into perspective, the Company’s current volume as of now is a little over 52,000, indicating a significant decrease.

However, New Wave is expects to see a 20% increase in growth with its latest move to expand product availability on Amazon. Moreover, the Company’s low stock price is relative to its small market cap of $11.19 million. With this in mind, New Wave has plenty of room to grow and could see growth in the near future following its latest announcement.