- $10.238M Market Capitalization
The Well Told Company Inc. (WLCO.V) announced today very strong first-quarter growth on Amazon, both in Canada and the United States (US). Well Told’s latest news comes shortly after the Company announced the official launch of its new 100% USDA organic certified powder line in compostable packaging on April 6, 2022.
“We are strong believers in a multichannel approach, making our products available when and where our consumers choose to shop. While we are still just getting started with Amazon, this strong revenue growth is a key indicator of the key role this platform promises to play for our company. This is further testament of things to come, as our brand continues to gain awareness, trial and repeat purchase across all channels,” said Monica Ruffo, founder and CEO of Well Told.
Referring back to Well Told’s latest news, as of the end of the first quarter of 2022, the Company has more than tripled its total annual 2021 Amazon revenue. Additionally, Well Told’s Bye Bye Bloating product has already earned the “Amazon’s Choice” badge, a prestigious accolade given by Amazon to help match a product with a buyer’s search query. That being said, this endorsement also serves as an incentive for buyers.
According to McKinsey, some traditional channels may continue to largely sell through brick-and-mortar stores, including fortified foods, multivitamins, and skincare products. On the other hand, product categories, such as fitness wearables, are almost entirely native to online. Regarding wellness products, consumers in China reported the highest share of wellness spending online, followed by Japan, Europe, the US, and Brazil.
As a whole, the global wellness economy was valued at $4.9 trillion in 2019. In the future, this market’s value is projected to reach an outstanding $7.7 trillion by 2025, expanding at an annual growth rate of 9.9%. As if those numbers weren’t staggering enough, the wellness economy was responsible for 5.1% of global economic output in 2020.
In particular, the health and wellness market is dominated by two categories, namely the Personal Care & Beauty and the Healthy Eating, Nutrition, and Weight Loss segments. In terms of value, the Personal Care & Beauty sector was valued at $955 billion in 2020 while the Healthy Eating, Nutrition, and Weight Loss sectors were cumulatively valued at $946 billion in 2020.
Why am I telling you this? Well, Well Told is well-positioned to capitalize on this opportunity, especially via eCommerce. The Company’s latest growth on Amazon in both Canada and the US is a testament to this. Furthermore, Well Told also occupies a niche segment of the wellness category with its plant-based supplements, remedies, and other functional wellness products, which could give the Company a leg up against its competitors.
Well Told’s share price opened at $0.085 today, compared to a previous close of $0.085. The Company’s shares were down -5.88% and were trading at $0.08 as of 9:48 AM EST.