Tech: Candy Club rolls out online store for Aussie sweet tooths
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Confectionary company Candy Club (ASX: CLB) told the market this morning that its online store is now up and running.
CLB said the rollout to will provide another channel to engage with its existing subscriber-base, as well as bring in new customers.
Shares in the company were unchanged this morning at 9.1 cents:
It’s hasn’t been smooth sailing for Candy Club since it listed in February, with shares declining steadily from initial levels above 20 cents.
CEO Keith Cohn said the online store gives the company an opportunity to re-engage with customers who previously purchased products using a subscription-based arrangement.
It also provides more choice for customers who want to make direct product selections or only buy for special occasions.
“The e-commerce site has cost the company very little to create, and what is most exciting is that our customer acquisition costs on sales of products through the e-commerce store will be minimal,” Cohn said.
Due to its subscription-based operating model, the company already has a database of 250,000 customers.
Candy Club said it plans to target a small percentage of those customers with direct electronic mail to build awareness.
It will also look to leverage its social media following — which numbers more than 1 million people — to monetise the website offering.
Security tech company Spectur (ASX: SP3) announced it has agreed to a $1m debt facility with Westpac. Spectur — which achieved record monthly revenue in May — said the deal will provide resource flexibility to capitalise on large-scale orders when they arrive. Total interest payable on the loan is 7.2 per cent per annum. Shares in Spectur were up 6.7 per cent to 16 cents.
And Luxembourg-based satellite manufacturer Kleos (ASX:KSS) has also been on the funding trail, receiving an additional commitment of 1 million euros (non-equity) from the Luxembourg Space Agency. Kleos said the funding will be applied towards further developing data products, enhancing capability and increasing revenues”. Shares in Kleos were unchanged at 29 cents, up from 10 cents at the start of the year.