In the last two years, there has been a surge in disruptive businesses in almost every industry. Changes in the food industry are becoming more evident with rising concerns about how food choices affect health and lifestyle. People were previously reluctant to change their food habits, but since the Covid-19 outbreak, it appears that they are ready to make some positive changes for the planet and their health. The food industry has seen a significant increase in the number of plant-based and vegan startups in the last few years as consumers have demonstrated a heightened interest in consuming plant-based products that are both healthy and eco-conscious.
A Growing Plant-Based Trend
Sustainability and environmental friendliness have long been on the corporate agenda and have been two of the most important aspects of corporate governance, but companies have never been more serious than they are today about reducing their negative environmental impacts. Efforts are also being made in response to changing consumer behavior, which is being driven primarily by the young generation, as well as government initiatives toward carbon-neutrality. These changes can now be seen not only in the food and beverage industries but also in the fashion and accessories markets. While it is too early to predict whether veganism will rule the food and beverage market in the future, it will undoubtedly make some significant changes, and companies that understand the changing market today will be long-term winners. PlantX appears to be one of them.
Meet PlantX: The Digital Face of the Plant-Based Community
To bring the benefits of plant-based products to its customers, PlantX is combining retail and e-commerce. In addition to PlantX’s top tier e-commerce platforms, the company’s products are available on major e-commerce platforms including thebay.com, amazon.com, Walmart.com, and Walmart.ca. PlantX has taken many cost-effective strategic steps that are yielding positive results, as evidenced by its recent financial results. The company is quickly emerging as the digital face of the plant-based community, offering over 10,000 plant-based products to customers across North America. The company is also expanding in the United Kingdom and Israel. Since collaborating with a UK-based distributor, PlantX.uk has added 8,000 new products recently, and PlantX Israel collaborated with Wolt Delivery, a delivery platform, and has seen significant revenue growth since its launch in May 2022. In addition to meal and indoor plant delivery, the company is currently working on expanding its product lines to include cosmetics, clothing, and its own water brand.
An Expanding Market and Ecosystem
PlantX recently announced that it has been granted permission to sell and distribute alcoholic beverages in its Chicago, Illinois, and Venice Beach, California retail locations. With the alcohol license, the company is now preparing to enter the $284 billion alcoholic beverages market allowing PlantX to deliver alcoholic beverages across the United States to fulfill orders placed on its U.S. e-commerce platform, as well as enable same-day deliveries through partnerships with UberEats and Instacart.
The company is expanding its service ecosystem through partnerships and acquisitions. PlantX’s UK-based e-commerce company, Bloomboxclub Limited, which was acquired in 2020 sells and distributes indoor plants in the United Kingdom and Germany. In addition to a huge selection of plant-based goods and indoor plant selection, Bloomboxclub offers a variety of educational tools, such as blogs and recipes. PlantX continues to collaborate with celebrity chefs and brand ambassadors including Matthew Kenney, Justin Fields, and Venus Williams to improve its brand awareness as well. The company also entered into a strategic partnership with BESTIES Vegan Paradise (“BESTIES”), a leading plant-based brand that has won “Best Grocery Store” for the previous two years in the VegNews Veggie Awards.
Looking to the Future
PlantX has demonstrated its potential in the rapidly growing plant-based industry. The company’s online platform is a primary driver of its massive revenue growth and lies at the heart of the operation. The ease and convenience of online purchasing are quickly becoming a key market strategy for all brands, and PlantX has strategically integrated e-commerce into its business and continues to invest in expanding and improving its e-commerce capabilities. Moreover, the love PlantX customers seem to have for the brand, alongside the constantly expanding ecosystem of services, from meal delivery to beverages and fitness, seems to be quite promising as they look to the future.