We are Freshlocal Solutions Inc, a newly- public company listed on the TSX (ticker: “LOCL”). Freshlocal Solutions Inc. is our parent company, and it incorporates our core brands including SPUD.ca, FoodX Technologies, Blush Lane Organic Market and BeFresh Market/Café.Read MoreOur group of companies is operated by our incredible team members who truly live our mission: “using innovation and technology to reduce environmental impacts while creating a safe and sustainable food ecosystem for all”.
Starting with SPUD.ca, it is a company built on our ability to change with the needs of the customers we serve. We have been focused on providing a service built on Convenience (without causing harm to our planet), the provision of Local foods (that bolster our bodies and the communities we live in) and Sustainability (with a focus on dramatically reducing food waste and single-use plastics). For over 20 years these pillars have remained at the core of our purpose as a business. When this company started in Vancouver, none of these pillars were in vogue in mainstream grocery. Today the world is much changed, and retailers are required to focus on these pillars to be successful in the global grocery business.
FoodX Technologies (foodxtechnologies.com) is the software behind Sustainable Produce Urban Delivery’s (SPUD.ca). The market in which FoodX is offering its SaaS-based eGrocery Management Solution (“eGMS”) is experiencing rapid growth. Recent market research estimates that by the year 2025, global annual grocery sales of approximately $2.45 Trillion will switch from in-store to online. In the U.S. market alone, annual online grocery sales are forecasted to increase to $143 Billion by 2025, which is in line with an estimate published in Forbes that 25% of the U.S. grocery business will be conducted online by 2025.
To successfully capitalize on these shifts, retailers must make significant changes to their businesses, all while dealing with other macro trends that are impacting their operations, including:
- Prohibitive online fulfilment costs, which directly affect grocer profitability
- Consumers’ growing interest in food transparency and local food options
- The sustainability of our food supply – circular economy, food waste, and single-use plastics
The fact that our company has been proactively addressing these challenges for over 20 years provides us with a valuable offering on a global stage. We believe that any real solution must be built on practical experience tailored to the unique business operations and technology that adapts to the customer’s current systems and needs. Our FoodX eGMS was developed in line with these beliefs. Our solution delivers on all key areas required for a profitable end-to-end solution while continuing to address the growing need for food transparency and the sustainability of our food supply.
SPUD.ca, Blush Lane and Be Fresh are our retail businesses which service the $19 billion grocery market in Western Canada. We service these markets while reducing the environmental impacts of selling groceries and creating a safe and sustainable food ecosystem for everyone. Online grocery adoption in our core market is still in its early days but is expected to grow rapidly – by 2025, $3 Billion of new online grocery market potential is anticipated in Western Canada alone. Our strong brands and growing physical capabilities in these markets mean we are very well-positioned to play an increasing role in meeting this new demand for online grocery.
Our goal is to make Freshlocal Solutions a global leader in eGrocery. We are committed to investing in our people, building value-added corporate partnerships, and delivering long term measurable results to our shareholders. We will always do the right thing for all stakeholders and for our planet, while ensuring we continue to care about each other.
I am particularly grateful to all of our team members – they have dealt with immense challenges and worked tirelessly, and they have given so much to be part of the solution.
As we move toward our next goal, we have not lost the ability to smile, to be kind, and fight what for is right.
Thank you all so much, be safe.
Peter van Stolk