Smart Money Is Betting Big On This Trillion Dollar Lifestyle Trend
HomePressSmart Money Is Betting Big On This Trillion Dollar Lifestyle Trend
·15 min read
The world’s eCommerce king has found itself in a war that it may not be able to win. Its competitors are a group of specialty players that are overtaking Amazon one sector at a time. These specialist sectors include the pet food industry, that Amazon is losing to the now-giant Chewy.com (NYSE:CHWY)—the $26.4-billion company that started as a dotcom in a basement and then stole major market share from Amazon. Now, ecommerce pioneer Sean Dollinger who took Namaste Technologies (TSXV.N) from $6M to $1.2B in just 15 months has launched a new venture looking to shake up the $4.5-trillion global wellness economy. It’s PlantX Life Inc (VEGA.CN) and it’s another specialty market … that plans to scoop up Amazon-style market share. What Chewy.com did for pet food, PlantX intends to do for plant-based everything from what we eat and what we put on our skin to what we wear and how we decorate our homes. This isn’t just a company - it’s an entire healthy lifestyle ecosystem. The global wellness economy was already valued at $4.5 trillion in 2018… it’s an industry that’s grown faster than the global economy itself, going from $3.7 trillion to $4.2 trillion between 2015 and 2017 …. And PlantX is ready to capture a huge segment of this booming market. PlantX has its own plant-based food products, house plants, cosmetics, decor, pet food, and even its own celebrity chef. You can shop online for just about everything you can imagine that is plant-based, shop in a smart store, order plant-based takeout or find the best places to dine vegan.
It’s making plant-based meals for restaurants that have an urgent need to come up with more non-meat options for its pandemic-panicked clientele. And it’s deliciously mainstream. Just as Chewy.com is eating up Amazon market share in its specialist segment, PlantX is coming in for the entire vegan market. It’s already covered Canada. Now, it’s pushing into the United States, and it’s bringing its entire ecosystem with it—and there’s fast-paced news flow to go along with it … Mother Nature Is Back—With A Multi-Trillion-Dollar Vengeance Meat might be a $950-billion industry, but it’s starting to crack at the seams. It was starting to crack even before the pandemic. Now, the food revolution has been kicked into overdrive. Overnight, it’s gone from a momentous vegan “hippie” trend to the beginning of a megatrend. Before the pandemic, meat was becoming increasingly associated with poor health, shorter life-spans and the spread of disease.
Now, it’s become synonymous with epidemic and pandemic. Think: swine flu, bird flu, salmonella and E. coli. The pandemic supply disruptions gave us all time to think. Once it became more difficult to obtain meat products, we started to question the quality of what was there. And the safety. We started to try new things. And we weren’t disappointed. Plant-based food has become surprisingly good. Good enough, in fact, to be featured on the most unlikely of menus, from Burger King and Kentucky Fried Chicken to Jack-in-the-Box and McDonalds. From the “Rebel Whopper” and “Beyond Fried Chicken” to the “P.L.T.”
Nothing says “mainstream” like Fast Food. And it’s infiltrating the most mainstream of grocery stores, too. A recent study by SupermarketPerimeter indicates that 77% of grocery shoppers in the United States have purchased plant-based meat alternatives in the past 6 months. Even more astonishingly, not just vegetarians and vegans are buying it: Some 40% of purchasers eat animal-based meat, too. Just look at U.S. retail sales growth of plant-based meat alone during the initial months of the pandemic:
And then the Canadian:
While the initial panic-buying sobered up from March to April, it’s holding on to major gains--enough so that the trend now appears solidified. In fact, plant-based products are a key driver of growth for food companies and retailers. Plant-based outpaces overall food growth by more than 5X. By March 2020, grocery sales of plant-based foods that directly replaced animal-based foods grown to $5 billion—over 29% in only two years. And that is at a time when the entire U.S. retail food sales grew by only 4%. Plant-based is outpacing the rest of the food market … And PlantX (VEGA.CN) —whose founder has created a billion-dollar company before—is positioned to play a major role in this outsized growth. Growth-Driving Deal Flow & Megatrend Profit Margin Potential The deal flow has been extremely fast-moving. In early September, PlantX closed a $30-million deal with San Diego-based Liv Marketplace to build and operate PlantX’s first brick-and-mortar retail location in California. That confirms a huge push into the United States, with a 4,515-square-foot store that will sell a line of over 5,000 plant-based products. And a lineup of other deals …
PlantX acquired UK-based Bloombox Clubin late September, and it’s now on target to hit $4 million in gross revenue.
That same month, PlantX cut a series of deals with specialty producers, grocers, and even LA-based celebrity chef Gregg Drusinsky.
It launched its own glacial water brand in September.
On October 8th, PlantX jumped into the$38.4-billion North American pet food industry by launching yet another vertical with Kirtana Inc. products.
Plant-based home meal delivery services started delivering in April and have already hit 10,000 meals.
They don’t hold inventory or maintain expensive warehouses. Ecommerce 2.0 is all about “curation”, not waste. In Canada, PlantX has teamed up with Vancouver-based UpMeals, which has a Grade A kitchen. UpMeals prepares the chef-designed meals from PlantX, making PlantX profitable right out of the gate.
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