The classic product distribution process for a company is to develop a product and a brand, start promoting it locally, and gradually expand awareness across the country.
Rritual Superfoods (CANADA: RSF) (U.S.: RRSFF) (EUROPE: 0RW) isn’t having any of that.
Going straight to the America’s 4th largest drugstore chain, Rritual has inked an agreement that will put them in over 40% of Rite Aid stores in the U.S.
Rite Aid was founded in Pennsylvania in 1962 and has grown to become one of the top pharmacies in the country.
Pulling in over US$20,000,000,000 in revenue in 2019, Rite Aid is the 150th largest corporation by total revenue in the Fortune 500.
So what does Rritual x Rite Aid equate to?
- Rite Aid is the Fortune 500’s 150th biggest corporation in the U.S. by total revenue.
- In 2017, Walgreens purchased 1932 stores from Rite Aid for the hefty sum of US$4,380,000,000.
- Rite Aid Is the 4th largest drugstore chain in the U.S.
- Rite Aid’s pharmacists are distinctively empowered to improve customer’s health outcomes by engaging with them in establishing the best health practices and product recommendations.
“This first national retail rollout is a major achievement for the Rritual brand. It validates both supply and demand for the category, specifically, our product quality and the rapidly growing interest of consumers in functional superfoods,” said Mr. David Kerbel, Rritual Superfoods CEO. “We are striving to not only lead this emerging category, but to define it. A significant part of achieving that goal is accomplished through gaining the trust and support of consumers through top tier retailers such as Rite Aid.“
As Rritual takes a hold of Rite Aid’s eCommerce distribution platform, they’re also taking a huge bite out of Rite Aid’s 2700-store empire.
In the very first rollout, 1000 of the pharmacy’s stores will carry Rritual’s products, in addition to online sales.
Tackling the big national retailers of the pharmacy world is not only a bold move on Rritual’s behalf, but a disruptive one.
This top-down approach displays the adequate leadership initiatives of Rritual in rapidly gaining market share in what is nearly a US$200,000,000,000 functional foods market.
Disclaimer: Rritual Superfoods Inc. is an Edge Communications Client, and we own shares in the company.