PlantX Life Inc (VEGA)

[Homie50]

The grocery and food retail industry in Canada is experiencing dynamic changes with the rise of e-commerce in recent years, as well as the pandemic-driven surge in online grocery shopping, which spearheaded a spike of 177% in Canadian online sales. Overall retail sales of food and beverages amounted to almost $130 billion in 2019 in Canada, and the market value of the Canadian food retail industry is projected to reach $154.3 billions by 2021. Market research also suggests that almost 37% of all Canadians are now shopping online for groceries, marking a 57% increase in overall digitization of grocery sales. Walmart was named the most popular store in Canada for purchasing food and beverages in 2019, with approximately half of Canadians claiming that they are regular Walmart customers. Notably, Walmart Canada's e-commerce sales increased by a staggering 229% during the pandemic, marking unprecedented growth for the retail giant. PlantX's new partnership with Walmart Canada will allow the Company to maximize its e-commerce impact by capitalizing on the general upwards trends in e-commerce sales combined with Walmart's ongoing online growth.