Hangover Joe's Holding Corporation. (OTCQB: HJOE) The maker of "The Hangover" Recovery Shot and developers of an innovative state of the art proprietary Git-R-Done-Energy Shot with Git-R-Done Productions, Inc. and Larry the Cable Guy, commented yesterday about changes it is making to its marketing plan based on initial product launch data.
Matthew Veal, CEO of Hangover Joe's Inc., stated, "We have had 30+ marketing initiatives in the last few months. We have found our most success in the convenience store area, at least for now. We believe that may change in the future as more sales data becomes available to larger potential customers. We have found so far most convenience stores to report selling an average of one bottle daily of Git-R-Done Energy per every 150 to 200 customers on a small sample basis, although this number may vary based on numerous factors, including advertising, placement, increases in exposure, and the like. This is very exciting news to us especially in light of the latest NACS/Nielsen Convenience Industry Store Count which reported that as of December 31, 2013 there were 151,282 convenience stores in America. The report went on to say that of the stores that meet NACS’s definition of a convenience store, 126,658 of those stores sell fuel and average around 1,100 customers per day. Further according to NACS, an average convenience store selling fuel has more than 400,000 customers per year and thus cumulatively, the U.S. convenience store industry alone serves nearly 160 million customers per day and 58 billion customers every year. Even without any consideration of the additional thousands of bodega type convenience stores there are in the U.S., this should make the huge growth potential our company has, very easy to see for anyone looking at our company. We have a number of test markets underway and have seen very good success in getting into stores in 30 different states. So far, we’ve had the most success at trade shows, but we do have a group of reps and brokers that are presenting us with several exciting opportunities. We will be continuing to do shows around the country and will be attending the Indian & Asian trade show in Miami, Florida, on September 08-10, 2014.
Shawn Adamson, Vice President of Marketing added “there is no way to quantify what we are finding with any degree of precision, but we are encouraged about how the market is reacting to our Git-R-Done Energy shots. I personally like the sell through rates we are beginning to see on the counters around the country. This is very promising to what I believe will transpire with the brand in the market place as it is exposed to more counters and consumers. We are also finding new outlets for Hangover Joe's Hangover Recovery Shots along the way. We will continue to build the brand and re-establish it as the market’s leader in the Hangover Recovery category. It is our intention to increase our advertising efforts and trade show presences in the coming twelve months to increase sales. It's all about counters and turns and if we continue to do our job and land on more counters and create more turns then we are going to do very well with this company and grow revenue and stock price”.
Mike Jaynes, Chairman in his comments, reminded “it is premature to make an assessment with any degree of thoroughness, but we are very optimistic based on what we have seen so far in a short period of time with many of our programs. We have made some modifications to our priorities based on information from reps, buyers, end users, and other stakeholders in our company and I feel strongly that the company is moving in the right direction and we are posed to Git-R-Done for HJOE.”
About Hangover Joe’s Holding Corporation
Hangover Joe’s is the exclusive producer of “The Hangover” Recovery Shot, and one of the nation’s top selling anti-hangover recover drink & hangover recovery shot. Git-R-Done-Energy is an officially licensed product of Git-R-Done Productions, Inc and Larry the Cable Guy and is a healthy energy drink. Visit our website at www.GitRDoneEnergy.com and www.hangoverjoes.com https://www.facebook.com/GitRDoneEnergy https://www.facebook.com/hangoverrecovery and on twitter @GitRDoneEnergy. @TheHangoverShot
On July 25, 2012, Hangover Joe’s became a publicly traded company and is trading on the OTCBB as HJOE. For more information, visit www.hangoverjoes.com, or check us out on Facebook and YouTube.
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SOURCE: Hangover Joe's Holding Corporation.