- PlantX is celebrating the expansion of its e-commerce platform to the United Kingdom
- The platform will offer a wide array of plant-based products, indoor plants, and educational resources
- The UK is the leading market for plant-based alternatives in Europe and has in the recent past witnessed changes that align perfectly with PlantX’s recent move
- The launch of the site fulfills the company’s mission and is a step in the right direction for the PlantX
In line with its mission of bringing more plant-based options to as many people as possible, PlantX Life (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) has announced the expansion of its e-commerce platform to the United Kingdom (“UK”). Set to be launched under the domain www.PlantX.uk, the new platform will offer customers a similar experience as PlantX’s customers in Canada and the United States have become accustomed to (https://ibn.fm/o5a3e).
In addition to complementing Bloomboxclub UK, PlantX’s UK-based subsidiary that sells and delivers indoor plants across the United Kingdom and Germany via an online shop and subscription service, the new UK site will feature a wide array of plant-based goods, an assortment of educational resources such as blogs and recipes, and an extensive selection of indoor plants.
“PlantX plans to introduce a wide selection of novel brands and products for the growing plant-based community in the United Kingdom,” commented company COO Julia Frank. “By offering consumers access to products that are new to the UK market, PlantX hopes to secure a competitive advantage in the dynamic plant-based retail ecosystem in the UK throughout and beyond the upcoming holiday season.”
The timely launch dovetails with emerging trends in the UK’s plant-based space. According to a study conducted by the London School of Hygiene & Tropical Medicine (“LSHTM”) in collaboration with the University of Oxford, the proportion of UK people who reported eating and eating plant-based alternative foods nearly doubled between 2008-2011 and 2017-2019 from 6.7% to 13.1% (https://ibn.fm/Hq7Na).
“The researchers say their study suggests that alternative plant-based foods are likely to play an important role in dietary change away from meat and dairy, and take a considerable place in UK diets,” reads a summary of the report.
The LSHTM study is consistent with findings from separate research from the University of Oxford. According to this research, the daily meat consumption in the UK decreased by 17% between 2008/2009 and 2018/2019 (https://ibn.fm/MUP5g). Relatedly, a Mintel Research report established that the proportion of people who have limited or reduced their meat consumption increased from 28% in 2017 to 39% in 2019.
Put together, these statistics have contributed to the UK’s status as the largest market for plant-based alternatives in Europe. Here, sales of meat-free foods increased by 40% from £582 million (US$771 million) in 2014 to an estimated £816 million (US$1.081 billion) in 2019. Mintel projects that this figure will grow further to more than £1.1 billion (US$1.458 billion) by 2024 (https://ibn.fm/NUkm4).
In this regard, the new e-commerce site enables PlantX to tap into the UK’s appetite for plant-based alternatives and, through educational resources, possibly enhance the population’s knowledge of plant-based products even further.
On his part, PlantX Founder, Sean Dollinger, noted that accessing the vast and flourishing UK market is a critical part of the company’s business plan, further underscoring that PlantX sees the launch as another step in the right direction.
“Introducing new plant-based options to additional growing market segments is a recipe for success,” said PlantX CEO Lorne Rapkin. “Having our e-commerce site operational in the UK is the next evolutionary step on our way to expanding across the globe, and we’re excited to serve this market segment.”
Notably, PlantX has partnered with one of the leading fulfillment companies in the UK, Access Fulfillment, to establish an effective supply chain infrastructure. With more than 20,000 square feet of warehouse space complete with refrigeration capabilities, Access’s facilities will ensure the centralized storage and distribution of PlantX’s plant-based products across the UK.
For more information, visit the company’s websites at www.PlantX.com, www.PlantX.ca, and https://investor.plantx.com/ and view PlantX for Plant-Based Investors.
NOTE TO INVESTORS: The latest news and updates relating to PLTXF are available in the company’s newsroom at https://ibn.fm/PLTXF
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