NEW YORK, NY, April 28, 2021 (GLOBE NEWSWIRE) — SPYR Technologies (OTC Pink: SPYR) and its wholly owned subsidiary, Applied MagiX, have spent the last 3 weeks adding one new distribution channel after another. And the results are great news for the company and its shareholders. The expansion of the company’s distribution network has netted SPYR and Applied MagiX access to more than 500-million active monthly users with its presence on the top 3 most-visited online retailers in the world, Amazon, Walmart, and eBay.
Amazon Storefront (300-million active mo. users) http://bit.ly/AppliedMagix-StoreFront
Walmart Marketplace (120-million active mo. users) http://bit.ly/AppliedMagix-Walmart
eBay Marketplace (107-million active mo. users) http://bit.ly/AppliedMagix-eBay
According to Statista, a leading provider of market and consumer data, in 2020, about 65% of the entire US population visited one of Amazon’s websites at least once per month. This stunning statistic proves Amazon’s e-commerce dominance in the US. The data firm forecasts that during 2021, about 2.14 billion people worldwide are expected to buy goods and services online, up from 1.66 billion global digital buyers in 2016. A study from the U.S. Postal Service and comScore found that 97% of online customers first browse products on an online marketplace before making a purchase.
So, given the difficulty of growing an audience from scratch, online marketplaces are a godsend for e-commerce businesses like Applied MagiX, a registered Apple developer operating in the multi-billion-dollar smart home market. As e-commerce continues to explode exponentially worldwide, SPYR and Applied MagiX have wisely chosen the 3 most popular online retailers to assist the company in driving sales, which should eventually lead to profit growth.
SPYR’s California-based Internet of Things (IoT) subsidiary recently launched a host of Apple HomeKit smart home products, including a secure video camera and 3 different smart home sensors that Applied MagiX sourced from its technology partner, Onvis. Since announcing the first products in its lineup, the company has been focused on reaching more shoppers, and to that end, both SPYR and Applied MagiX wasted no time increasing the number of online shoppers who can view their products by creating a distribution network of household names.
Each of these retail marketplaces will offer Applied MagiX the opportunity to showcase and sell sourced smart home products and accessories, as well as Apple CarPlay and Apple Watch products and accessories from trusted partners while developing relationships with customers and building an audience for its own brand and signature line of smart home products and accessories. There is no smarter plan for a company starting from scratch than building its business and brand by placing the company’s products on online marketplaces that have enormous built-in audiences of consumers who regularly shop these sites. Partnering with these large retailers also offers sellers access to some of the most innovative e-commerce solutions — advanced listing quality tools, advertising options, and expedited shipping programs that can organically boost conversion.
Amazon is overwhelmingly the world’s largest online retailer with 300-million active monthly users to its platforms, while also being the most popular shopping app in the United States with over 150-million mobile users. A staggering 63% of online shoppers go to Amazon to begin their search for products, and it’s an ideal online marketplace for Applied MagiX to have a storefront with “electronics” being the most popular product category for Amazon shoppers.
Additionally, Amazon website statistics show that 86% of Amazon’s third-party sellers were profitable in 2020. According to Jungle Scout, Amazon sellers rake in between $26,000 – $810,000 per year in profits, and Amazon seller statistics from Jungle Scout showed that 92% of Amazon sellers continued to use the platform in 2020.
Meanwhile, Walmart’s online Marketplace with its 120-million active monthly users has been growing its e-commerce business year over year since its launch in 2009, culminating in a 79% increase in e-commerce growth in 2020. Walmart has a monthly mobile app audience of over 86-million users.
Finally, the eBay Marketplace, which registers 107-million active monthly users, is currently the second-largest online marketplace in the total number of active buyers. In 2020, eBay added 11 million new buyers to bring its total to just over 185-million active buyers around the world.
The eBay app is used by 34.9% of all US mobile users, the third most popular shopping app among US shoppers behind Amazon (80%) and Walmart (43.8%). And like Amazon, eBay’s top-selling product category is “electronics & accessories.”
Applied MagiX also offers its current sourced products on its own e-commerce website. The company will be adding additional sourced products and its own brand as well, with a signature line of products currently in development.
Read SPYR Technologies’ press releases at https://www.nasdaq.com/market-activity/stocks/spyr/press-releases
About SPYR Technologies
SPYR Technologies is a technology company that, through its subsidiary, Applied MagiX Inc., develops and resells Apple® ecosystem compatible products with an emphasis on the growing multi-billion-dollar smart home market. SPYR continues to identify and target acquisitions that will grow its footprint in the industry and expand the products it offers consumers, including companies developing artificial intelligence and smart-technology products.
About Applied MagiX, Inc.
Applied MagiX is an Internet of Things (IoT) company headquartered in Manhattan Beach, California, with an office in Hong Kong. The company is a registered Apple® developer that develops and resells Apple ecosystem compatible products with an emphasis on the growing multi-billion-dollar smart home market.
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