Vancouver, British Columbia--(Newsfile Corp. - September 30, 2020) - Peekaboo Beans Inc. (CSE: BEAN) (OTC Pink: PBBSF) ("PK Beans" or the "Company"), a responsible and innovative children's apparel brand, is pleased to report significant growth in its online presence this year. August 2020 reported a 21% increase in online users and a 247% increase in web conversions; from 249 conversions in August 2019 to 1292 in 2020. The Company saw a 292% increase in return on ad spend (ROAS) from 7x in August 2019 to 28x in August 2020. These resulted in a 373% increase in revenue from ad spend, up from $25,668 to $121,425 in August 2019 and August 2020 respectively.
These numbers indicate growth and momentum as PK Beans continues to grow with their omni-channel business strategy. The Company saw a 65% returning customer rate in August 2020, and an increase of 5% for first time customers.
"We are very excited about these numbers," says CEO, Traci Costa, "In an ever-changing retail environment, these metrics show us that we have a phenomenal product, understand our target market, our strategies are successful, and we continue to maintain strong customer loyalty. It also highlights our spectacular marketing and advertising team, as indicated by these above-industry standard ROAS metrics. This will help us strategize future campaigns as we continue to grow our brand, customer base and future ROAS potential."
About Peekaboo Beans Inc.
PK Beans is an innovative 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 PK Beans, visit: www.pkbeans.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.
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