$NGTF CEO Sean Folkson details sales and distribution, growth and the company's secret weapon: hotel distribution
New York, New York--(Newsfile Corp. - November 2, 2021) - PCG Digital -- Nightfood (OTCQB: NGTF) is pioneering a new snack category and the biggest companies in the world-including Pepsi, Unilever and Nestle-are already paying attention. Why? The next 12 to 18 months are expected to propel the multi-billion-dollar category opportunity that exists at the intersection of nutrition and sleep.
Recently, Nightfood CEO Sean Folkson presented at LD Micro to provide more insight into the company's latest developments and upcoming catalysts.
More than 100 million snacks are consumed every night, totaling over 36 billion nighttime snacks a year. Unfortunately for most people, according to industry data, consumers make less-than-healthy choices when it comes to nighttime snacking. Interestingly, cravings for foods with extra calories, extra fat and extra sugar late in the day are part of our pre-wired human survival programming, according to the latest research.
Folkson explained, "Over 80 percent of us snack regularly at night, resulting in over a billion dollars spent every week on snacks just consumed between dinner and bed. The most popular night snacks are cookies, chips, candy and, of course, ice cream, and these are not only unhealthy but they can disrupt and impair sleep quality. That's not a trend. That's not a fad. It's our human hardwired biological programming, and we know these cravings for calorie-dense foods and our appetite are both peaking at the same time while willpower is at its lowest."
With $50 billion spent annually in the night snack category, Nightfood aims to become the category king. Folkson knows there will eventually be competition in the space, and welcomes it.
"Many investors ask what makes us think that one of the big guys won't step up and crush us, and that's just not the way it works in consumer goods. The big guys don't rush into categories. Dannon wasn't able to crush Chobani. Red Bull, Monster, Coke and everybody else weren't able to crush 5-hour Energy," he said. "Big CPG has moved into an acquisition model rather than a competition model. That's why Kellogg's spent $600 million to acquire RX Bar even though they already owned Special K, Nutri Grain and Kashi brands. It's why Hormel paid $300 million for Justin's Nut Butter even though they had just acquired Skippy a couple of years earlier. And it's why Unilever attempted to acquire Halo Top for a reported $2 billion even though Unilever already owned Ben & Jerry's, Breyers, Talenti and more, and why Wells, the second largest ice cream manufacturer in the United States that already owned Blue Bunny, actually did go through with the Halo Top acquisition."
New York, New York--(Newsfile Corp. - November 2, 2021) - PCG Digital -- Nightfood (OTCQB: NGTF) is pioneering a new snack category and the biggest companies in the world-including Pepsi, Unilever and Nestle-are already paying attention. Why? The next 12 to 18 months are expected to propel the multi-billion-dollar category opportunity that exists at the intersection of nutrition and sleep.
Recently, Nightfood CEO Sean Folkson presented at LD Micro to provide more insight into the company's latest developments and upcoming catalysts.
More than 100 million snacks are consumed every night, totaling over 36 billion nighttime snacks a year. Unfortunately for most people, according to industry data, consumers make less-than-healthy choices when it comes to nighttime snacking. Interestingly, cravings for foods with extra calories, extra fat and extra sugar late in the day are part of our pre-wired human survival programming, according to the latest research.
Folkson explained, "Over 80 percent of us snack regularly at night, resulting in over a billion dollars spent every week on snacks just consumed between dinner and bed. The most popular night snacks are cookies, chips, candy and, of course, ice cream, and these are not only unhealthy but they can disrupt and impair sleep quality. That's not a trend. That's not a fad. It's our human hardwired biological programming, and we know these cravings for calorie-dense foods and our appetite are both peaking at the same time while willpower is at its lowest."
With $50 billion spent annually in the night snack category, Nightfood aims to become the category king. Folkson knows there will eventually be competition in the space, and welcomes it.
"Many investors ask what makes us think that one of the big guys won't step up and crush us, and that's just not the way it works in consumer goods. The big guys don't rush into categories. Dannon wasn't able to crush Chobani. Red Bull, Monster, Coke and everybody else weren't able to crush 5-hour Energy," he said. "Big CPG has moved into an acquisition model rather than a competition model. That's why Kellogg's spent $600 million to acquire RX Bar even though they already owned Special K, Nutri Grain and Kashi brands. It's why Hormel paid $300 million for Justin's Nut Butter even though they had just acquired Skippy a couple of years earlier. And it's why Unilever attempted to acquire Halo Top for a reported $2 billion even though Unilever already owned Ben & Jerry's, Breyers, Talenti and more, and why Wells, the second largest ice cream manufacturer in the United States that already owned Blue Bunny, actually did go through with the Halo Top acquisition."
