Friday, September 02, 2022 10:37:09 AM
They are marketing.... and spending quite a bit, here is an excerpt from the most recent 10-q:
"The increase in selling, general, and administrative expenses was primarily due to an increase in advertising and digital marketing costs of $438,216, which includes an expense of $86,866 in digital marketing fees associated with a settlement of digital marketing fees to a service provider"
That's an increase of $432k for 13 weeks on $3M in ecom sales.
Sam also pointed out in the latest press release that their marketing is performing worse, most likely due to the ios update:
"Second quarter and year-to-date sales also reflect the strength of our platforms as record foodservice revenue successfully offset normalizing eCommerce trends and industry wide changes impacting the effectiveness of digital marketing."
"They need to grow the ecomm sales for sure but they aren't marketing and ecomm sales haven't grown in the last 4-5 quarters. So my guess is that's not their strategy."
Ecom sales haven't grown in the past 4-5 quarters, but it isn't due to a lack of marketing, it's due to the influence of COVID in past periods.
And to be clear... ecom is not part of their strategy... it is their strategy.
OUR MISSION
LEVERAGE OUR TRANSFORMATIVE
FOOD-FOCUSED ECOMMERCE PLATFORM TO BUILD, AGGREGATE & GROW ONLINE RETAILERS & DTC BRANDS.
https://www.ivfh.com/mission
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