Stran & Company Launches Loyalty Redemption Program for Online Sports & Entertainment Client
September 07 2023 - 8:00AM
Stran & Company, Inc. (“Stran” or the “Company”)
(NASDAQ: SWAG) (NASDAQ: SWAGW), a leading outsourced marketing
solutions provider that leverages its promotional products and
loyalty incentive expertise, today announced that it has launched a
new loyalty program for a client that has received more than 22,000
orders in the first week of the redemption period, generating more
than $2 million in sales.
Stran’s client, an online sports and
entertainment company, invests in both customer acquisition and
retention initiatives that Stran supports through a combination of
physical and experiential rewards designed to drive behavior. The
loyalty program rewards are offered to the client’s consumers in
the form of products that can be redeemed online. The program is an
example of one of several such programs based on Stran’s e-commerce
loyalty program platform, which supports all aspects of client and
consumer engagement from product ideation, production, technology,
logistics, inventory management, fulfillment, and reporting to
ensure a seamless experience for both the client and their
consumers.
The maximum number of orders from this program
will be approximately 45,000, for total maximum sales of
approximately $4 million.
“We are thrilled to see the volume of
redemptions that took place in the initial week of our engagement,
as it speaks to the effectiveness of both the overarching loyalty
strategy as well as the specific offering to the client’s consumer
base,” stated Andy Shape, CEO of Stran. “Our creative,
merchandising, sourcing, production, and logistics capabilities are
helping our client to retain their customers. This is an example of
one of several loyalty and incentive-based initiatives that we
offer to assist our clients with the goal of driving customer
retention. Moreover, given the results so far from this
program, we look forward to rolling out similar programs with this
client in the future as we continue to expand our
relationship.”
About Stran
Over the past 27 years, Stran has grown to
become a leader in the promotional products industry, specializing
in complex marketing programs to help recognize the value of
promotional products, branded merchandise, and loyalty incentive
programs as a tool to drive awareness, build brands and impact
sales. Stran is the chosen promotional programs manager of many
Fortune 500 companies, across a variety of industries, to execute
their promotional marketing, loyalty and incentive, sponsorship
activation, recruitment, retention, and wellness campaigns. Stran
provides world-class customer service and utilizes cutting-edge
technology, including efficient ordering and logistics technology
to provide order processing, warehousing and fulfillment functions.
The Company’s mission is to develop long-term relationships with
its clients, enabling them to connect with both their customers and
employees in order to build lasting brand loyalty. Additional
information about the Company is available at: www.stran.com.
Forward Looking Statements
This press release contains “forward-looking
statements” that are subject to substantial risks and
uncertainties. All statements, other than statements of historical
fact, contained in this press release are forward-looking
statements. Forward-looking statements contained in this press
release may be identified by the use of words such as “anticipate,”
“believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,”
“seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,”
“target,” “aim,” “should,” "will” “would,” or the negative of these
words or other similar expressions, although not all
forward-looking statements contain these words. Forward-looking
statements are based on the Company’s current expectations and are
subject to inherent uncertainties, risks and assumptions that are
difficult to predict. Further, certain forward-looking statements
are based on assumptions as to future events that may not prove to
be accurate. These and other risks and uncertainties are described
more fully in the section titled “Risk Factors” in the Company’s
periodic reports which are filed with the Securities and Exchange
Commission. Forward-looking statements contained in this
announcement are made as of this date, and the Company undertakes
no duty to update such information except as required under
applicable law.
Contacts:
Investor Relations ContactCrescendo Communications,
LLCTel: (212) 671-1021SWAG@crescendo-ir.com
Press ContactHowie Turkenkopf press@stran.com
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