Business
PSIQ Executes Agreement to Distribute Its Cutting-Edge CBD Hemp Extracts to the Projected $ 12 Billion Mall Cart & Kiosk Industry in the United States
PSIQ Executes Agreement to Distribute Its Cutting-Edge CBD Hemp Extracts to the Projected $ 12 Billion Mall Cart & Kiosk Industry in the United States.
About this update from Profile Solutions Inc
[{"type":"text","content":"\nSUNRISE, Fla., Feb. 20, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Pink: PSIQ) through its subsidiary Elite Products International, Inc. (“Elite”) announces it has granted distribution rights to Hemp Premier, Inc. (“HPI”) to sell its products which contain cutting-edge CBD Hemp extracts in the form of edibles, topicals and cosmetics at Mall Carts and Kiosks in Florida and New York.\n PSIQ is launching this new program to raise mainstream consumer awareness on the potential health benefits of CBD Products, while significantly enhancing its distribution footprint through a new and diverse segment of the rapidly growing market. For purposes of the agreement, Mall Carts and Kiosks shall be considered a store operating out of an enclosed booth of varying size and shape with the Distributor located in the center and customers having the ability to approach the Distributor across a counter. Mall Carts and Kiosks maximize the benefits of selling in a high traffic area to targeted customers, with low cost market entry and lease term flexibility, all in a small footprint. Kiosks range in size from the traditional 3‘x 6’ cart on wheels to very involved, specially fabricated larger units with lighting and decor that complement the mall and design features that draw in consumers.  There are thousands of kiosks in malls, airports, rail stations, and sports venues selling everything imaginable, from sunglasses to ice cream. According to IBIS World, over the past five years, the Mall Carts & Kiosks industry has grown by 2.7% to reach revenue of $12bn in 2018. In the same timeframe, the number of businesses has grown by 3.0% and the number of employees has grown by 3.8%. The Mall Carts & Kiosks industry consists of Apparel and fashion accessories, small personal electronics and accessories, personal care products and services, other products and services and toys, games and entertainment. The majority of products supplied by Mall Carts and Kiosks is discretionary items. Therefore, a rise in household disposable income increases the propensity for consumers to purchase these goods, leading to growth in demand. Per capita disposable income is expected to increase in 2018, creating a potential opportunity for the industry. For more information, please see https://www.ibisworld.com/indust...