Vinder

Vinder Update

follower @ Vinder

Published on Apr 3, 2019

Highlights:

Increase AOV from $16 to $36
Product Expansion
Direct Reinvestment Program
Social Sharing Feature

 Dear friends and spectators,

Over the last 3 months we have expanded our products from just fruits and vegetables to include cottage industry goods, as well. This includes: Jams, Breads, Eggs, Honey, Cookies, Cakes, Pickled Goods, and more. Each state has it’s own regulations on cottage goods but, when registering, a seller acknowledges that he/she understands and complies with local, state, and federal regulations.

 As an example, in the state of Texas, You can produce and sell up to $50,000 of cottage goods out of your home kitchen without a business license or health inspection oversight. A simple label stating the address where it was made, a list of allergens, and a state that reads “This was prepared in a home kitchen and has not been inspected by the local or federal health department. Most vendors at farmers’ markets fall under this category.

 By expanding the product categories, we have seen, as expected, a rise in average order value (AOV). During our beta test of just raw fruits and vegetables, the AOV was $16. With the expansion into cottage goods, the AOV has increased to $36. Below is a photo of products being sold in Lubbock, Texas. This also brings us closer to our mission of creating a neighbormade grocery store.

  

We have also launched an exclusive direct reinvestment program that allows our investors to immediately make a return on their investment -- instead of waiting the typical 5-7 years. We are committed to making our shareholders a return and driving economic growth in the communities we operate. If you have questions regarding this, please email me: [email protected]

We have also partnered with a 501(c)3 non-profit, Ogalalla Commons, who will be working to get us involved in 2,000 farmers markets across 5 states. Each market has between 10 and 20 farmers which equates to 20-40,000 farmers.

Last, we have implemented a new feature: Social Sharing. Now, sellers can directly share their Vinder store to their networks on Facebook and Instagram. This link will redirect anyone who clicks the link to the app store to download then directly to the Seller's store.

We found that sellers use 2 main mediums to advertise direct-to-consumer. Facebook and Instagram. This feature allows us to tap into their pre-existing network and customer base to increase virality of the app.

Note: This link will appear in their normal feed. No group or business account necessary.

As always, I’m available to answer questions. Thank you for such incredible support!

Sincerely,

Sam Lillie

Co-founder/CEO

#DoWhatsRipe

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