CHEYENNE, WY / ACCESSWIRE / September 14, 2021 / CADUCEUS SOFTWARE SYSTEMS, CORP. (OTC PINK:CSOC) ("Caduceus" or the "Company"), a consumer goods focused holding company and owner of McLovin's Pet Food, Inc. is pleased to announce that it will be increasing its eCommerce & Online sales initiatives.
McLovin's products are currently available online on the eCommerce platforms of Amazon, Kroger's and Walmart. Following a quarterly review of the McLovin's online sales on current ecommerce platforms, the Company feels strongly about the actual growth of online sales and is undertaking an expansion initiative to increase the size of the eCommerce team as well as the marketing efforts towards online sales.
"Data from our online sales reports has shown tremendous results. Initially the Company was aiming for late 2022 as the launch date for our expanded eCommerce efforts. However, based on the latest results, the Company feels we are well positioned to take advantage of this increasing demand for our products" said David Ji, CEO of McLovin's Pet.
Tom Elliott, managing director of investment firm Capstone Headwaters, said, "One of the driving factors behind the trend was the growth of millennial pet owners that were preconditioned to online shopping. The pandemic has taken this storyline and put it on steroids."
In a new report from Capstone, "Pet Humanization Accelerates Through COVID-19," Elliott added that it's not just millennials shopping more online now; the shutting down of retailers has also pushed boomers to purchase more online. Even with pet retailers being deemed essential businesses fairly early in the crisis, many people have still preferred to stay home and shop online rather than risk being around others.
Huge e-commerce surge, pet food along for the ride
According to data from IBISWorld cited in the Capstone report, e-commerce sales overall reached a whopping US$211.5 billion in the U.S. in the second quarter of 2020, or 16.1% of total U.S. retail sales. Those amounts represent a 44.5% increase from the same quarter in 2019 and a 31.8% rise from the first quarter of 2020.
Pet food and other pet products have contributed about 10% of e-commerce sales, at around US$10 billion; IBISWorld projects that amount to hit US$15.5 billion by 2025, growing at a compound annual growth rate (CAGR) of 6.9% between now and then.
Projecting to 2024, Packaged Facts expects e-commerce to account for 34% of the U.S. pet market, or about US$24 billion. (Projected sales for pet food in 2024 are US$48.07 billion and US$22.74 for other pet products, a total of US$70.81 billion.)
About Caduceus Software Systems, Corp.
Caduceus Software Systems Corp is a Wyoming-based holding company with is wholly owned subsidiary McLovin's, a Pet Food and Pet Care company. The Pet Food and Pet Care market size was USD 207 Billion in 2020 with a stellar growth of 28.11%. The industry is expected to grow to USD 325 Billion in 2028 at a CAGR of 5.6%. The Pet Food and Pet Care products include food, hygiene, toys, and other accessories. The Company is traded on the OTC Markets under the trading symbol" CSOC".
For more information:
OTC Markets: (OTC Pink: CSOC)
About McLovin's Pet Food, Inc
McLovin's, Inc. is a California company specialized on the manufacturing and distribution of quality pet foods. We believe in real food. What you'll find in McLovin's is similar to what you'll find in your own grocery cart. In the case of our premium treats, it starts (and ends) with real beef, chicken and salmon. Our products are developed using responsible sourcing and quality is a key part of every single part of our manufacturing process.
Corporate Website: https://mclovinspetfood.com/
Safe Harbour Statement - In addition to historical information, this press release may contain statements that constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements contained in this press release include the intent, belief, or expectations of the Company and members of its management team with respect to the Company's future business operations and the assumptions upon which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those contemplated by such forward-looking statements. Factors that could cause these differences include, but are not limited to, failure to complete anticipated sales under negotiations, lack of revenue growth, client discontinuances, failure to realize improvements in performance, efficiency and profitability, and adverse developments with respect to litigation or increased litigation costs, the operation or performance of the Company's business units or the market price of its common stock. Additional factors that could cause actual results to differ materially from those contemplated within this press release can also be found on the Company's website. The Company disclaims any responsibility to update any forward-looking statements.
SOURCE: Caduceus Software Systems, Corp.
View source version on accesswire.com: