TAAT LIFESTYLE & WELLNESS LTD. (CSE: TAAT) is pleased to announce the successful completion of the first phase of initial retail market testing for Taat hemp cigarettes, which resulted in especially positive responses from users of the product. Beginning in early May 2020, “test” versions of Taat hemp cigarettes were offered for sale at more than 50 retail locations in Nevada and Southern California with an objective of soliciting feedback from users. Over the duration of this phase, users consistently gave testimonies about Taat hemp cigarettes that reflected their satisfaction with the product as an acceptable replacement for legacy tobacco products. This feedback was corroborated by a high rate of repeat purchases, which resulted in a reorder rate of more than 75% from participating retailers whose supply of Taat hemp cigarettes sold out during this first phase.
In its June 22, 2020 press release, the Company announced that its flagship brand Taat Herb Co. was preparing to launch Taat hemp cigarettes as a better-for-you alternative to traditional tobacco products. Taat hemp cigarettes are tobacco-free and nicotine-free, and are designed to emulate traditional cigarettes by replicating experiential elements to include the “stick” format, cigarette-style packaging, the taste and scent of tobacco from a proprietary flavouring blend, and an enhanced volume of smoke exhaled. To assist users in potentially attaining a seamless transition off of tobacco cigarettes, Taat hemp cigarettes contain at least 50mg of CBD per stick, which has been shown to mitigate tobacco withdrawal symptoms and reduce dependency. To also provide the product’s potential benefits to users who wish to quit menthol cigarettes, Taat hemp cigarettes are also offered in an “Menthol” flavour in addition to an “Original” tobacco flavour.
The purpose of the first phase of retail market testing of Taat hemp cigarettes was to collect responses from initial users of the product. Feedback was sought regarding users’ acceptance of Taat hemp cigarettes as an alternative to traditional tobacco, their “smokability” in comparison to traditional cigarettes or other alternatives, and the overall presentation of the product from the perspective of an early-stage user. Responses from users consistently supported that the experience of smoking Taat hemp cigarettes was comparable to traditional tobacco cigarettes. Moreover, users demonstrated a clear understanding of the potential benefits of Taat hemp cigarettes as an alternative to smoking tobacco.
Final results of research conducted in this first testing phase are expected to be made available by mid-July 2020. Subsequently, it is planned for the Company to begin a second phase of research in which an intensive series of focus groups will be held to gather more detailed responses, which can also be segmented by standard market research criteria to provide Taat Ltd potentially useful insights that can be used in the creation of positioning strategies for Taat hemp cigarettes.
Taat Ltd Founder Joe Deighan commented, “The first phase of testing is always the moment of truth with any new product. After years of research and development, the product’s reception by its target audience is the most informative indicator of the product’s quality, innovativeness, and relevance to the intended user base. We are ecstatic to have received such glowing responses regarding Taat hemp cigarettes as a better-for-you alternative to tobacco cigarettes, especially since such feedback was substantiated by additional purchases from the participating retailers that resulted in reorders from more than 75% of stores carrying the test product once they ran out. We believe that the results of this first phase can foreshadow similar results in the focus groups that we plan to conduct in the second phase. We look forward to holding those focus groups as early as this summer, which we hope will further contribute to our momentum leading up to our planned official launch in Q4 2020.”
On behalf of the Board of Directors of the Company,
TAAT LIFESTYLE & WELLNESS LTD.
Joel Dumaresq, CEO and Director
For further information, please contact:
+1 604 336 3193
About Taat Lifestyle & Wellness Ltd.
Taat Herb Co., the flagship brand of Taat Lifestyle & Wellness Ltd. is an early-stage life sciences company based in Las Vegas, Nevada innovating nicotine-free and tobacco-free alternatives to traditional cigarettes. With a unique proprietary blend of all-natural ingredients and meticulous engineering of the user experience, Taat hemp cigarettes are designed to emulate every aspect of legacy tobacco products with no significant difference to the user. Enhanced with CBD, a non-psychoactive derivative of hemp, Taat hemp cigarettes provide benefits that include mitigation of tobacco withdrawals, and reduction of tobacco dependency. With an expert-led go-to-market strategy, the Company’s objective is to position itself in the US $814 billion (2018)1 global tobacco industry to capitalize on the growing worldwide demand for better-for-you alternatives to traditional cigarettes.