Peekaboo Beans Reports 212% Growth in Revenue at Beginning of Q2
February 27, 2020 (Source) – Peekaboo Beans Inc. (CSE: BEAN) (OTCQB: PBBSF) (“Peekaboo Beans” or the “Company”) announces $178,000 of sales in January 2020 an increase of 212% from January 2019 which sales were $57,000
Other highlights in the quarter include:
- Total orders of 2,214 were up 167% over January 2019
- Web traffic in January 2020 was 45,594 – an increase of 231% over January 2019
- Average Order Value was $82.05, an increase of 14% over January 2019
“We are excited about the steady growth in sales, which we believe is driven, in part, by our recent investment in digital ad spend,” According to Traci Costa, CEO. We are seeing a return of 10:1 on our ad spend, which is far greater than the industry average of 4:1. After trying various sales models in the past, we believe we have finally found the optimal model to drive sales and take our unique children’s clothing brand to the next level.”
About Peekaboo Beans Inc.
Peekaboo Beans is a children’s apparel brand with a focus on environmentally responsible clothes that are intentionally designed to inspire play. Through an omni-channel approach, Peekaboo Beans engages sellers through social platforms, including Instagram and Facebook, as well as online retailers, to maximize revenue and build brand loyalty. The Company works to promote a playful lifestyle for children by designing comfortable clothes that are built to last.
To learn more about Peekaboo Beans, visit: www.peekaboobeans.com.
On behalf of the Board of Directors,
Peekaboo Beans Inc.
Ms. Traci Costa, President and CEO
This news release may include forward-looking information that is subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward-looking. Although the Company believes the expectations expressed in such forward-looking information are based on reasonable assumptions, such information is not a guarantee of future performance and actual results or developments may differ materially from those contained in forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking information include, but are not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.