SRM Entertainment's Amazon Sales Surge Over 400% in Three Months, Fueling Strong Financial Performance
04 Dezember 2024 - 1:30PM
SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company,” or “SRM”, a
leading provider of creative and high-quality licensed media-themed
merchandise, today announced that its online sales on Amazon have
surged by over 417% since September. This exceptional growth is
driven by strong customer demand for the company's high-margin
products and is expected to have a significant positive impact on
its financial performance.
"Amazon offers a tremendous platform for us to
reach our online customers," said Rich Miller, CEO of SRM. "We have
strategically leveraged data analytics to effectively target our
customer base and drive online sales growth. This success
underscores our commitment to expanding our e-commerce presence and
maximizing profitability."
Leveraging Amazon's Tools and
Expertise
Miller highlighted the valuable support and
resources provided by Amazon in facilitating SRM's online growth.
"Amazon has been an invaluable partner in our e-commerce success,"
said Miller. "They provide us with powerful tools and insights that
enable us to optimize our product listings, reach the right
customers, and efficiently manage our online operations. Their
expertise in e-commerce logistics and fulfillment has been crucial
in ensuring a seamless experience for our customers."
Strong Growth Trajectory and New Product
Launches
Miller anticipates continued strong growth in
Amazon sales in both 2025 and 2026. This growth will be driven by a
robust product line of high-margin items appealing to young
children and families.
Taft Flittner, President of SRM, highlighted the
upcoming launch of new product lines that will further contribute
to shareholder value. "We are excited to introduce creative
products such as Plush Packs, 25oz stainless steel drinkware,
themed Plush Animals, and themed binoculars," said Flittner. "These
new offerings will expand our product portfolio and cater to the
growing demand for high-quality, licensed merchandise."
Strategic Expansion: Prioritizing Online
and Direct-to-Consumer Channels While Maintaining Theme Park
Momentum
SRM’s expansion into online markets represents a
key strategic initiative to diversify revenue streams, enhance
profitability, and connect directly with consumers. "Our theme park
business remains a cornerstone of our success," said Miller.
"However, expanding our online presence allows us to build on this
strong foundation by reaching new customers and optimizing margins.
These complementary initiatives will help drive SRM's overall
growth and expansion."
Direct-to-consumer channels, such as
Amazon, offer several key advantages for SRM,
including:
- Increased
Profit Margins: By eliminating intermediaries, SRM can retain a
greater share of the revenue generated from online sales.
- Enhanced Brand
Control: D2C channels allow SRM to maintain greater control over
its brand messaging and customer experience.
- Valuable
Customer Data: Direct interaction with customers provides valuable
insights into consumer preferences and purchasing behavior, which
can inform product development and marketing strategies.
Building on the momentum of a surge in Amazon
sales since September, SRM is confident in its e-commerce strategy.
With the holiday season underway, the company is well-positioned to
introduce its expanding product lines to new customers and further
strengthen its online presence on Amazon.
About SRM Entertainment,
Inc.
SRM Entertainment designs, develops, and
manufactures custom merchandise which includes toys and souvenirs
for the world's largest theme parks and other entertainment venues.
Many of SRM’s creative products are based on award winning
multi-billion-dollar entertainment franchises that are featured in
popular movies and books. SRM products are distributed worldwide at
Walt Disney Parks and Resorts, Universal Parks and Destinations,
United Parks and Resorts – SeaWorld, Six Flags and other
attractions. SRM’s products are offered alongside popular rides and
attractions in theme parks, zoos, aquariums, and other
entertainment venues. SRM’s design team developed specialty dolls,
plush and toys for one of New York City’s landmarks that features a
popular holiday show. SRM’s design team is credited with creating
popular products which have been successfully sold at specialty
theme park events. SRM’s exclusive-patented Sip With Me cups
feature fun, kid friendly Zoo, Sea and animal themed characters as
well as licensed characters from Smurfs, ICEE and Zoonicorn.
Caution Regarding Forward-Looking
Statements
Certain statements in this announcement are
forward-looking statements. Investors can identify these
forward-looking statements by words or phrases such as “may,”
“will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,”
“plan,” “believe,” “is/are likely to,” “potential,” “continue” or
other similar expressions. These statements are subject to
uncertainties and risks including, but not limited to, the risk
factors discussed in the Risk Factors and in Management’s
Discussion and Analysis of Financial Condition and Results of
Operations sections of our Forms 10-K, 10-Q and other reports filed
with the SEC and available at www.sec.gov. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and the Company
cautions investors that actual results may differ materially from
the anticipated results and encourages investors to review other
factors that may affect its future results in the Company's
registration statement and other filings with the SEC. Additional
factors are discussed in the Company's filings with the SEC, which
are available for review at www.sec.gov. The Company undertakes no
obligation to update or revise publicly any forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations that arise after the date hereof,
except as may be required by law.
Media and Investor
RelationsInfo@SRMentertainment.com(407)-230-8100website:
SRMentertainment.com
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