SHERPA CHAI ANNOUNCES TRIPLE DIGITAL SALES GROWTH AS REPORTED BY THE LATEST SPINS REPORT
FINACIAL CONTENT: SHERPA CHAI ANNOUNCES TRIPLE DIGITAL SALES GROWTH AS REPORTED BY THE LATEST SPINS REPORT
Sherpa Chai of Boulder, Colorado, the maker of specialty chai concentrates, today reported unprecedented sales growth across the grocery channel. Famous with chai/tea lovers across the United States, Sherpa Chai experienced triple-digit dollar sales growth (+122.8%) in the latest quarterly reporting of data through Q3, propelling the popular brand into a top growth spot within the shelf-stable tea concentrates category nationally outperforming brands like TAZO, Arizona, and Lipton by leaps and bounds.
According to SPINS 12 week moving category data, a leading provider of natural/organic food industry marketplace consumer sales intelligence, the total grocery channel sales of shelf-stable concentrated teas (including chai) in the U.S. increased by +26.1%, as compared to the same period a year ago. Leading the charge has been Sherpa Chai, a regional brand until recently only available in Colorado. Growth is largely due in part to expanding retail distribution to the Pacific Northwest beginning this past September. This expansion has now propelled the company to the #5 ranked brand nationally, where national brand names typically dominate.
“As one of the newest chai products in the shelf-stable concentrate segment, Sherpa Chai is constantly looking for opportunities to exceed consumer expectations, build brand loyalty, and expand product distribution,” states Sherpa Chai CEO, Dave McKean.
With an increased national market share of +73% year-over-year, Sherpa Chai remains focused on standing out from the crowd not only by expanding retail placement but also now offering exciting new consumer trade offerings, which are focused on both rewarding existing loyal customers and promoting trial among new consumers. The specialty beverage company continues to push forward in acquiring distribution in established retail giants such as King Soopers, Natural Grocers Vitamin Cottage, and Sprouts in the Rocky Mountain region, with recent distribution expansion in Fred Meyer stores across the Pacific Northwest.
“Growth within the retail sector has been tremendous for Sherpa Chai, and we’ve been fortunate to create synergistic relationships with retailers and buyers that share our values as a brand,” continues McKean. “Even during this international health pandemic, which eliminated significant revenue streams among our local foodservice channel, Sherpa Chai has significantly exceeded all sales and profit goals established for 2020 due to our growing retail distribution.”
Sherpa Chai offers a variety of flavors, including Traditional, Spicy, Unsweetened Traditional, Honey Vanilla, Decaf, and their newest flavor, Turmeric Ginger. For more information about Sherpa Chai products or the story behind the company, visit us online at www.sherpachai.com.