- Published on 02 April 2019
Market watchers are being encouraged to think that the Walmart-partnered manufacturer and distributor-retailer, InnerScope Hearing Technologies, is tearing up the fast lane in the US market.
The suggestion that rubber is indeed burning comes from the latest of many recent press releases from the California-based outfit, announcing a 551% sales increase from February 2018 ($22,753 revenue) to the corresponding month this year ($125,374). InnerScope claims month-on-month (MoM) growth too, with February 2019 up 143% in receipts on the previous month, January.
InnerScope's continued record-setting growth is a result of successfully building a solid deep-rooted platform of hearing products with multiple sales channels through a strong foundation of various strategic and distribution partners, like Walmart.com," claims CEO Matthew Moore.
Sharp economic analysts and circumspect investors will look, of course, at actual sums and acceleration rates to see if InnerScope's exponential climb can be maintained by its growth engine factors. But It makes for interesting reading to see a combination of product lines that runs from an own-production hearing aid to the development and use of proprietary formulas for CBD (cannabidiol) oil for treating tinnitus.
InnerScope's NEXUS device is of the self-fitting kind that the firm says is "a 50% to 75% lower cost without the costly time and money of purchasing through a hearing healthcare professional." It is sold through Walmart, other big-box retailers, eCommerce websites, and member associations.
Similar distribution lines for the CDB and other InnerScope dietary hearing supplements are added to by sales in national vitamins retail chains. The company also has a portfolio of FDA-approved hearing aids for Direct-to-Consumer sales. Meanwhile, the firm's expansion plan envisages 25 new retail outlets open by end of 2019. The target is 25 new retail locations per year to reach 100 new outlets generating more than $100 million in annual revenue by 2022.