CanaFarma Hemp Products Corp. is a rising nutraceutical company based out of New York ready to take on the industry. Selling hemp-infused products, CanaFarma utilizes its patented formula to create high-quality products, from highly-absorbable gum to full-spectrum oil, to pain-relieving skin cream. Recently, they signed a Letter of Intent to acquire a 25,000 square foot manufacturing facility currently producing both pharmaceutical and nutraceutical products. They also announced the release of a new hemp-infused skincare line that will launch its first acne cream in June 2020. CanaFarma is on the move!
In more recent news, CanaFarma announced that its team has conducted an internal analysis from the first six months of product sales. These results, spanning from June 2019 to November 2019, show an exciting outcome.
Sales Analysis Report Outcome
During its first six months of sales:
- 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.
The review of CanaFarma’s first six months of revenue was conducted in order to assess their Direct-to-Consumer sales model.
CanaFarma’s Direct-To-Consumer Approach
Instead of going through a supplier, manufacturer, wholesaler, distributor, and retailer as the traditional sales model has been, CanaFarma is taking a new approach with a Direct-to-Consumer method. This process takes the product directly from the production into the hands of the consumer. This involves strategy and successful marketing techniques. Most companies who excel in Direct-to-Consumer, have distinguishable tools under their belt that set them apart from their competitors. Companies successful in the D2C method are extremely passionate about their customers, so they understand the importance of communicating directly with their customers. They also have experience in harnessing first-party data and analytics, have flexible capital, and demonstrate proficiency in digital marketing.
Around the world, there is a growing demand for hemp-based products with companies needed to fill that demand. CanaFarma’s extensive experience in Direct-to-Consumer marketing sets them up to be the ideal candidate, as a nutraceutical company, to take on the challenge.
“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.”David Lonsdale, CEO of CanaFarma