Fintech
Nightfood Sleep-Friendly Snacks Enter Hospitality Industry, Helping Hotels Deliver Better Sleep for Guests
Sleep-friendly snacking finding a natural ally in hotels
Takeaways
- Nightfood (OTCQB: NGTF), which solves the $50 billion problem of unhealthy nighttime snacking, successfully concluded a retail pilot test in lobby shops of a global hotel chain
- That chain will be rolling Nightfood into their grab-and-go freezers in coming months
- The brand has engaged iDEAL Hospitality Partners to secure additional hotel distribution partnerships
- Nightfood believes hotel distribution will greatly advance supermarket sales in the short and long term
- The hotel news has not yet moved Nightfood’s OTC stock
New York, New York–(Newsfile Corp. – September 21, 2021) – PCG Digital — Nightfood Holdings’ (OTCQB: NGTF) pilot sales test in hotel lobby shops, announced six months ago, has reached a successful conclusion, according to the company.
In a recent call with investors, Nightfood CEO Sean Folkson invited attendees to “appreciate the impact hotel distribution is expected to have, not just on sales and profits, but on the category itself … which can elevate us from a middle-of-the-road player into a top seller.”
The category Folkson is referring to is that of night snacks, specially formulated to support better sleep.
While the forward-thinking snack company, based in Tarrytown, N.Y., is not revealing which international hotel chain initiated the pilot program, this won’t stay secret for long. Nightfood has engaged iDEAL Hospitality Partners to accelerate the national rollout, targeting the 20,000+ hotels with snacks in their lobby shops.
While the testing chain is finalizing their rollout timelines, expected to be Q4 or the first quarter of 2022, the brand expects its snacks to be launched into additional chains in coming months, with an interim target of 7,500 hotel points of distribution by mid-2022.
“When a partner has an innovative product like Nightfood, we want to secure a partnership at the hotel brand level and establish a standard that can be adopted and implemented from the top down,” says iDEAL CEO, Jill Dean Rigsbee. “Once the first chain puts the Nightfood in, we believe it will set the standard in the industry. It’s our job to make sure all the other chains fall in line and help Nightfood manage that growth.”
Changing channels
Nightfood, however, is not focused exclusively on the hospitality market. Folkson’s team sees it more as a force multiplier, with the majority of long-term brand growth coming from the more conventional vector of supermarkets.
“There’s been tremendous enthusiasm surrounding the hotel test and its potential impact on the company,” according to Folkson. “Supermarket category managers are excited about having Nightfood at retail with potentially thousands of hotels supporting that distribution.”
There’s only so much room in the supermarket freezer aisle, so this channel is highly competitive. Nightfood, like any other mid-tier frozen food purveyor, is going to have its hits and misses. While it’s gotten rotated out of a couple chains since initial launch in 2019, Nightfood’s same-store unit sales and same-store dollar sales its major accounts continue to grow.
“While the category as a whole is down significantly, compared to the 2020 Covid spike, our [six-month] growth – which seems modest at 6% — has us outperforming a category which is down over 12%, by almost 20%,” Folkson says.
Take before bed
If you’ve never heard of the nighttime snack segment, that’s because it didn’t exist before Nightfood created it. Folkson’s team was responding to a major consumer market blind spot which looks obvious in retrospect.
Market data suggests that 85% of Americans snack most nights. That means they spend about $1 billion each week to eat 700 million nighttime snacks. And to be honest, most of it is unhealthy. Human beings crave sweets and fats at night, which explains why the most reached-for treats before bed are cookies, chips and ice cream. The empty calories are bad; the potential for disrupting sleep cycles compounds the problem.
Nightfood embraced the challenge, gaining significant market interest with ice cream. Consulting with sleep and nutrition experts, the company formulated a treat with fewer sleep disruption triggers, more relaxation and sleep-supporting ingredients, and higher overall nutritional value. The brand won the 2019 Product of the Year award in the ice cream category in a Kantar survey of over 40,000 consumers and was also named Best New Ice Cream in the 2019 World Dairy Innovation Awards. The American Pregnancy Association recommends Nightfood ice cream for pregnancy cravings.
Sleeping beauty?
It’s not only revenues that Nightfood is chasing with its move into hotel sales; it’s also operational efficiency. “Launching, operating, and scaling in hotels, project to be much less expensive and much more cash efficient than supermarkets,” Folkson told shareholders. “There’s no slotting fees, there’s no ad spend and there’s no need to run price discounts.”
Perhaps it was inevitable, but Nightfood appears to be catching investors napping. Even with this new earnings driver coming on the heels of their biggest quarter ever, year-over-year revenue growth of 37% in unit terms and 25% in dollar terms and a debt-free balance sheet, NGTF has languished in over-the-counter trading. While NGTF is well off its all-time lows, it has been trading sideways around $0.25 per share since late 2019.
While Nightfood ice cream is in supermarket freezers across the country, it has apparently not caught on in Greenwich, CT. When that finally happens – or when some clever portfolio manager on a business trip has a late-night hotel snack attack – that could change. Overnight.
Disclaimer
This communication was produced by PCG Digital Holdings, LLC, an affiliate of PCG Advisory Inc., (together “PCG”). PCG is not a registered or licensed broker-dealer nor investment adviser. No information contained in this communication constitutes an offer to sell, a solicitation of an offer to buy, or a recommendation of any security. PCG may be compensated by respective clients for publicizing information relating to its client’s securities. See www.pcgadvisory.com/disclosures.
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As we close out 2024, the fintech industry continues to deliver headlines that underscore its dynamism and innovation. From IPO aspirations to groundbreaking regulatory milestones, today’s updates highlight the transformative power of fintech partnerships, regulatory evolution, and disruptive technologies. Here’s what you need to know.
Chime’s Quiet Step Toward Public Markets
Chime, the U.S.-based financial technology startup best known for its digital banking services, has taken a significant step by filing confidential paperwork for an initial public offering (IPO). As one of the most valuable private fintechs in the U.S., Chime’s move could potentially signal a renewed appetite for fintech IPOs in a market that has been cautious following fluctuating valuations across the tech sector.
With a valuation that reportedly exceeded $25 billion in its last funding round, Chime’s IPO could set a new benchmark for the industry. Observers note that its strong customer base and revenue growth may make it an appealing choice for investors seeking to capitalize on the digital banking boom. However, the timing and success of the IPO will depend on broader market conditions and the regulatory landscape.
Source: Bloomberg
ZBD’s Pioneering Achievement: EU MiCA License Approval
ZBD, a fintech company specializing in Bitcoin Lightning network solutions, has made history by becoming the first to secure an EU MiCA (Markets in Crypto-Assets Regulation) license. This landmark approval by the Dutch regulator positions ZBD at the forefront of compliant crypto-fintech operations in Europe.
MiCA, which aims to harmonize the regulatory framework for crypto-assets across the EU, has been a focal point for industry players aiming to establish legitimacy and expand their offerings. ZBD’s achievement not only validates its operational rigor but also sets a precedent for other fintech firms navigating the evolving regulatory landscape.
Industry insiders view this as a strategic advantage for ZBD as it broadens its footprint in Europe. By leveraging its regulatory approval, the company can accelerate its product deployment and establish trust with institutional and retail users alike.
Source: Coindesk, PR Newswire
The Fintech-Credit Union Synergy: A Blueprint for Innovation
The convergence of fintechs and credit unions continues to reshape the financial services ecosystem. Collaborative initiatives, such as the one highlighted in the recent partnership between fintech innovators and credit unions, are proving to be a potent force in delivering tailored financial solutions.
This “dream team” approach allows credit unions to leverage fintech’s technological expertise while maintaining their community-focused ethos. Key areas of collaboration include digital payments, personalized financial management tools, and enhanced loan processing capabilities. These partnerships not only enhance member engagement but also enable credit unions to remain competitive in an increasingly digital-first financial environment.
Industry analysts emphasize that such collaborations underscore a broader trend of traditional financial institutions embracing fintech-driven solutions to bridge service gaps and foster innovation.
Source: PYMNTS
Tackling Student Loan Debt: A Fintech’s Mission
Student loan debt remains a pressing issue for millions of Americans, and a Rochester-based fintech aims to offer relief through its cloud-based platform. This innovative solution is designed to simplify loan management and provide borrowers with actionable insights to reduce their debt burden.
The platform’s features include repayment optimization tools, personalized financial education, and seamless integration with loan servicers. By addressing the complexities of student loan management, this fintech is empowering borrowers to make informed decisions and achieve financial stability.
As the student loan crisis continues to evolve, solutions like this highlight the critical role fintech can play in addressing systemic financial challenges while fostering financial literacy and inclusion.
Source: RBJ
Industry Implications and Takeaways
Today’s updates underscore several key themes shaping the fintech landscape:
- Regulatory Milestones: ZBD’s MiCA license approval exemplifies the importance of regulatory compliance in unlocking growth opportunities.
- Strategic Partnerships: The collaboration between fintechs and credit unions demonstrates the value of combining technological innovation with traditional financial models to drive customer-centric solutions.
- Market Opportunities: Chime’s IPO move reflects a potential revival in fintech public offerings, signaling confidence in the sector’s long-term prospects.
- Social Impact: Fintech’s ability to tackle systemic issues, such as student loan debt, showcases its role as a force for positive change.
The post Fintech Pulse: Your Daily Industry Brief (Chime, ZBD, MiCA) appeared first on News, Events, Advertising Options.
Leading global payments platform SPAYZ.io has confirmed it will be attending iFX EXPO Dubai 2025 on 14 to 16 January. Exhibiting at Stand 64 at Trade Centre Dubai, SPAYZ.io’s team of professionals will be on hand providing live demonstrations of its renowned payment services for payment providers. Attendees will also receive exclusive insight into SPAYZ.io’s plans for 2025 alongside early early access to its upcoming plans for the new year.
SPAYZ.io delivers a host of payment solutions that leverage the latest technological innovations and open access to the fastest growing emerging markets across Africa, Europe and Asia. Over the past year, there has been huge demand for its Open Banking and local payment method services, alongside bank transfers, mass payouts, online banking and e-wallets.
Yana Thakurta, Head of Business Development at SPAYZ.io commented: “We look forward to once again participating at iFX Dubai to expand our network of partners and clients. It’s a fantastic way to kick off the year, connecting with thousands of industry leaders from FOREX platforms to trading companies, and everything in between.
“Our key goal for iFX Dubai EXPO 2025 is to expand our portfolio of solutions and geographies. We’re using this as an opportunity to partner with like-minded entities who share our ambition to provide payment solutions that are truly global.”
Come meet SPAYZ.io’s team at the Trade Centre Dubai at Stand 64. You can also book a meeting slot with a member of a team.
The post SPAYZ.io prepares for iFX EXPO Dubai 2025 appeared first on News, Events, Advertising Options.
Airtm, the most connected digital dollar account in the world, is proud to announce the addition of two distinguished industry leaders to its Board of Directors: Rafael de la Vega, Global SVP of Partnerships at Auctane, and Shivani Siroya, CEO & Founder of Tala. These appointments reflect Airtm’s commitment to innovation and financial inclusion as the company enters its next phase of growth.
“We are thrilled to welcome Rafael and Shivani to Airtm’s Board of Directors,” said Ruben Galindo Steckel, Co-founder and CEO of Airtm. “Their unique perspectives and proven track records will be invaluable as we continue scaling our platform to empower individuals and businesses in emerging markets. Together, we’ll push the boundaries of financial inclusion and innovation to create a more connected and equitable global economy. Rafael and Shivani bring a wealth of experience and strategic insight that will strengthen Airtm’s mission to connect emerging economies with the global market.”
Rafael de la Vega, a seasoned leader in fintech global partnerships and technology innovation, is currently the Global SVP of Partnerships at Auctane. With a proven track record of delivering scalable, impactful solutions at the intersection of fintech, innovation, and commerce, Rafael’s expertise will be pivotal as Airtm continues to grow. “Airtm has built a platform that breaks down barriers and opens up opportunities for people in emerging economies to connect to global markets. I am excited to contribute to its growth and help further its mission of fostering financial inclusion on a global scale,” said Rafael.
Shivani Siroya, CEO and Founder of Tala, is a pioneer in financial technology, renowned for empowering underserved communities through access to credit and essential financial tools. Her leadership in leveraging data-driven innovation aligns seamlessly with Airtm’s vision of creating more equitable financial opportunities. “Empowering underserved communities has always been at the core of my work, and Airtm’s mission resonates deeply with me. I’m thrilled to join the Board and work alongside such a dynamic team to expand access to financial tools that truly make a difference in people’s lives,” said Shivani.
The post Airtm Enhances Its Board of Directors with Two Strategic Appointments appeared first on News, Events, Advertising Options.
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