EZZ has broken company records in China’s 11.11 Global Shopping Festival with demand for health products on the rise and its strategic marketing paying off.

Genomic-tech firm EZZ Life Science Holdings (ASX:EZZ)  has had its most successful 11.11 Global Shopping Festival yet with sales up eight times on last year over the same period.

The sales event set a new company record, with over 41,600 items being purchased on the company’s Tmall store and via its presence on Douyin, China’s version of TikTok.

It was the fourth year EZZ had participated in the 11.11 Global Shopping Festival, and saw the company serve 17,560 customers via its presence on China’s online retail marketplaces.

EZZ chair Glenn Cross said the record success is a result of growing consumer interest in health products and the company’s increased investment in strategic marketing over the shopping festival period.

“We are thrilled with the results of this year’s 11.11 event. The China market is a key area of growth for our company, and 11.11 presents a powerful opportunity to grow our presence in the country,” Cross said.

“It is exciting to see Chinese consumers increasingly turning towards high quality health and wellness products.

“Our strong sales results are evidence that the time is now for Australian brands to enter the China market and expand their business.”

 

Diverse range of products

This year’s event featured the most diverse range of products being offered by EZZ, with the company having eight SKUs available to consumers.

EZZ’s top selling products during this year’s Global 11.11 Shopping Festival included:

  • L-Lysine Growth Capsules
  • NMN 150000
  • Bone Growth Chews

One of EZZ’s key initiatives during 11.11 included the engagement of over 30 key opinion leaders (KOLs) who ran livestream programs to share the importance of health and wellness among consumers in China and raise awareness of EZZ Life Science’s range of healthcare products.

 

Endorsement of equity firm

Equity tech firm Lodge Partners has praised EZZ for navigating a difficult FY22 and has increased its target price on the company.

In its latest comprehensive report Lodge Partners said EZZ’s management team had successfully navigated a difficult period for the company due to both domestic and international covid-related challenges.

Lodge Partners has maintained a buy recommendation on EZZ, increasing its price target from 51 to 84 cents. The company’s share price is 33 cents and up 6.45% in the past month.

 

This article was developed in collaboration with EZZ Life Sciences, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.