“NEXE is delighted with the Amazon affiliation…Amazon is the largest e-commerce platform in the world, and will allow us to greatly expand our sales, brand presence, and market reach. We are excited about the sales exposure that our listing on Amazon’s Grocery and Gourmet Food section will bring to our XOMA line,” said Darren Footz, CEO of NEXE.
NEXE previously announced on April 15, 2021, that it had partnered with Orca Pacific, a full service marketing agency specialized in sales strategies. Comprised of former Amazon personnel and top retail industry experts, Orca has assisted NEXE in developing the Company’s Amazon store sales strategy for its Xoma Superfoods. Following NEXE’s partnership with Orca, the Company received approval to sell its fully-compostable coffee pods in the Grocery & Gourmet Food section of Amazon, one of Amazon’s fastest growing and most popular product categories.
If you have been following NEXE then you have probably been waiting on the edge of your seat like I have for the Company to commence sales on Amazon. Having initially predicted that its products would be available on Amazon last month, NEXE seems to have missed the mark by a few days. Regardless, NEXE’s involvement with Amazon should enable the Company to expand its sales and brand presence. Although the launch of Xoma coffee pods appears to have went smoothly on Amazon.ca, my attempts to find Xoma branded products on Amazon.com were fruitless.
With this in mind, minimal exposure on Amazon.com could severely limit NEXE’s brand presence considering Amazon.com accounts for 45% of the US ecommerce market, with its Marketplace sellers list offering up to 350 million items. Additionally, Amazon as a whole records an average of $4,722 in sales every second, which equates to roughly $17 million in sales per hour. Personally, I would like to think that NEXE’s lack of presence on Amazon.com is the result of technical issues, however, both the Company and Orca have yet to make any statements regarding this issue.
NEXE’s share price opened at $1.33, down from a previous close of $1.36. The Company’s shares are down -2.21% and are currently trading at $1.33 as of 10:16AM ET. This indicates that there has been some noticeable change following the news.