Rritual Superfoods Inc (CSE:RSF/FSE:0RW) is entering into an important sales and marketing partnership with Crossmark in the US to give its distribution a major boost in the North American market. Crossmark is a specialist in growing retail brands in the US and has been in the business for over a century.
Rritual is fast moving company in the rapidly evolving functional superfoods space, specialising in the development of plant-based elixirs that support immunity, focus and relaxation. It is a growing market in the West, where it is championed by early adopters in Hollywood and in professional sports.
Crossmark to accelerate development of Rritual brand
Crossmark has an established business helping new brands to penetrate the consumer market and has expertise in key segments like groceries, drugs and natural/speciality foods. It focuses on getting products onto shelves and selling as quickly as possible.
“Crossmark will accelerate Rritual’s development, contributing significantly to our overall strategy to work with national brand leaders, simply, Crossmark is best of class,” noted David Kerbel, Rritual CEO. “Their expertise and relationships will power the Rritual brand, allowing us to scale more expediently and efficiently on a national level with a streamlined internal team.”
The two companies will be executing the Rritual sales plan to leverage the strengths Crossmark brings to the partnership, including its huge knowledge of US retail products success. It should be noted that Rritual CEO Kerbel is an ex-Crossmark executive, so understandss how the company works and who a successful retail strategy can be implemented.
Crossmark is also considered one of the leaders in the development of ecommerce and omnichannel distribution, going well beyond traditional bricks and mortar strategies. Here at The Armchair Trader we have noticed how important an omnichannel approach is becoming for the successful sale of health and wellness products in the US and Canada.
Crossmark has recently launched what it calls its Accelerator platform, drawing on new insights and analytics, advanced modelling and artificial intelligence to build more effective growth plans for companies.
Why Rritual Superfoods is an interesting company to watch
Rritual is poised to become a dominant brand in the superfoods space thanks to the Crossmark alliance. It is going to play a very important part in the next stage of the company’s growth.
The functional foods market is rapidly turning into a very fast growth segment of the overall health and wellness space. Globally it is anticipated to reach $275m in terms of market size by 2025, according to a Grand View Research report put out in 2019. This is a CAGR of 7.9% during the period from 2019. We would argue that, if anything, the pandemic will have accelerated this growth, as it has focused many consumers on their personal health and well-being.
Asia Pacific has traditionally been the largest market for these products, as there is a long history of consuming mushroom-based superfoods in both China and India. What we think is more interesting is the development of a similar market in the US and Canada. Rritual Superfoods is extremely well positioned to capitalise on this and the alliance with Crossmark is going to go a long way to help it to achieve its ambitions in this respect.