Jupiter, FL, December 4, 2024 (GLOBE NEWSWIRE) — SRM Entertainment, Inc. (Nasdaq: SRM) (the “Company” or “SRM”), a leading provider of high-quality, creative licensed products to the media theme, today announced that its online sales on Amazon have jumped more than 417% since September. This exceptional growth is driven by strong customer demand for the company’s high-margin products. and should have a significant positive impact on its financial performance.
“Amazon gives us a tremendous platform to reach our customers online,” said Rich Miller, CEO of SRM. “We have strategically leveraged data analytics to effectively target our customer base and drive online sales growth. This success underscores our commitment to expanding our e-commerce presence and maximizing profitability.
Leverage Amazon tools and expertise
Miller highlighted the valuable support and resources provided by Amazon to facilitate SRM’s online growth. “Amazon has been an invaluable partner in our e-commerce success,” Miller said. “They provide us with powerful tools and insights that allow us to optimize our product listings, reach the right customers and effectively manage our online operations. Their expertise in logistics and e-commerce fulfillment has been crucial in ensuring a seamless experience for our customers. “.
Strong growth trajectory and new product launches
Miller expects continued strong sales growth on Amazon in 2025 and 2026. This growth will be driven by a strong product line of high-margin items appealing to young children and families.
Taft Flittner, President of SRM, highlighted the upcoming launch of new product lines that will further contribute to shareholder value. “We are excited to introduce creative products such as plush packs, 25-ounce stainless steel tumblers, themed stuffed animals and themed binoculars,” Flittner said. “These new offerings will expand our product portfolio and meet the growing demand for high-quality licensed products.”
Strategic Expansion: Prioritize online and direct-to-consumer channels while maintaining theme park momentum
SRM’s expansion into online marketplaces represents a key strategic initiative to diversify revenue streams, improve profitability and connect directly with consumers. “Our theme park business remains the cornerstone of our success,” Miller said. “However, expanding our online presence allows us to build on this strong foundation by reaching new customers and optimizing our margins. These complementary initiatives will help drive SRM’s overall growth and expansion.”
Direct-to-consumer channels, such as Amazon, offer several key benefits for SRM, including:
- Increased profit margins: By eliminating middlemen, SRM can retain a greater share of the revenue generated from online sales.
- Improved brand control: D2C channels allow SRM to maintain greater control over its brand messaging and customer experience.
- Valuable customer data: Direct interaction with customers provides valuable insights into consumer preferences and purchasing behavior, which can inform product development and marketing strategies.
Building on the surge in sales on Amazon since September, SRM is confident in its e-commerce strategy. With the holiday season underway, the company is well-positioned to introduce its expanding product lines to new customers and further strengthen its online presence on Amazon.
About SRM Entertainment, Inc.
SRM Entertainment designs, develops and manufactures custom products including toys and souvenirs for the world’s largest theme parks and other entertainment venues. Many of SRM’s creative products are based on award-winning, multi-billion dollar entertainment franchises and featured in popular films and books. SRM products are distributed worldwide at Walt Disney Parks and Resorts, Universal Parks and Destinations, United Parks and Resorts – SeaWorld, Six Flags and other attractions. SRM products are offered alongside popular rides and attractions at theme parks, zoos, aquariums and other entertainment venues. The SRM design team developed dolls, plush and specialty toys for one of New York City’s landmarks that features a popular holiday show. The SRM design team is recognized for creating popular products that have been successfully sold at specialty theme park events. Sip With Me mugs, patented exclusively by SRM, feature fun, child-friendly zoo, sea and animal-themed characters, as well as licensed characters from The Smurfs, ICEE and Zoonicorn.
Caution Regarding Forward-Looking Statements
Certain statements contained in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as “may”, “will”, “expect”, “anticipate”, “aim”, “estimate”, “intend”, “plans”, “believes”, “is/are likely to”, “potential”, “continues” or other similar expressions. These statements are subject to uncertainties and risks, including, but not limited to, the risk factors discussed in the Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations sections. Forms 10-K, 10-Q and other reports. filed with the SEC and available at www.sec.gov. Although the Company believes that the expectations expressed in such forward-looking statements are reasonable, it cannot assure you that such expectations will prove to be correct, and the Company cautions investors that actual results may differ materially from anticipated results and encourages investors to discuss other factors that may affect its future results in the company’s registration statement and other documents filed with the SEC. Additional factors are discussed in the Company’s SEC filings, which can be found at: www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations occurring after the date hereof, except as required by law.
Media and Investor Relations
Info@SRMentertainment.com
(407)-230-8100
website: SRMentertainment.com
