AXELUM Resources Corp. has launched an online coconut store, marking its entry into the country’s e-commerce sector.
The listed coconut manufacturer and exporter said in a regulatory filing on Monday that its store is now in online platforms Shopee and Lazada, offering products under its Fiesta brand.
Axelum said coconut products sold in the two e-commerce platforms include its coconut milk powder, coconut cream and milk, and coconut cooking oil.
Henry J. Raperoga, Axelum president and chief operating officer, said the company is confident that the success of its overseas e-commerce business can be repeated in the Philippines.
“Given the prevailing situation, we have identified existing opportunities to capitalize on increasing consumer preferences for home-based cooking and secured contactless retail transactions,” he said.
“Customers can be assured of world-class export quality coconut products which we have been globally known for since 1986 at affordable prices,” he added.
In 2018, Axelum launched a product line-up under its Fiesta Tropicale brand with global e-commerce platform Amazon.
Recently, the company said that it was aiming to increase its market share in the US e-commerce business after receiving positive customer reviews on its products.
Meanwhile, Axelum is looking at various digital advertising platforms and customer touch points to expand market awareness this year, adding that it expects its e-commerce unit to spur long-term growth.
The company plans to create a professional marketing team to lead different marketing initiatives.
“Overall, we are excited with the future growth prospects of our local e-commerce business, which will not only support Axelum’s growth but also encourage Filipinos to enjoy their favorite dishes and sweet cravings with a healthy coconut twist,” Mr. Raperoga said.
Last year, Axelum posted a 32.1% drop in its net income to P526.41 million due to effects of the coronavirus disease 2019 (COVID-19) pandemic to its operations.
On Monday, shares of Axelum at the stock exchange fell 2.14% or seven centavos to end at P3.20 apiece. — Revin Mikhael D. Ochave
