Vaping Industry Shipping Disruption Recovers from New Federal Regulation
TORONTO, Dec. 22, 2021 /CNW/ - PUDO Inc. ("PUDO" or "the Company") (CSE: PDO) (OTCQB: PDPTF). Today Element Vape's customers can select to have their packages shipped to a PUDO counter near them, usually just minutes away in the nearest convenience store. There is a PUDO counter in 80% of all metropolitan areas.
Element Vape, one of the world's largest online Vape retailers, has partnered with PUDO Inc., the largest carrier-neutral parcel pick-up and drop-off counter network in North America. PUDO's custom built technology platform and network of stores gives Element Vape's customers easy pick up locations and allows for compliance with new government legislation.
This is the first workable solution for the vaping industry since the United States Postal Service (USPS) and other large national and regional carriers stopped shipping vape products. Many major carrier services were unable to meet the 'age and identity verification' and other requirements of the new legislation.
PUDOpoints, however, already perform face-to-face age and identity verification, which solves a major problem for vape retailers, regulators, customers, and the courier companies.
Due to the regulatory amendments made to the PACT Act that treats vapor products similar to tobacco, shipping options have been severely impacted. Element Vape has received approvals from USPS to ship to a variety of business locations throughout the U.S., offering another solution to deliver vaping products to its adult customers.
The E-Cigarette and Vaping Market is valued at $10.02 Billion USD (2020) and is projected to grow to $73.96 Billion USD. That's a 27.67% compounded annual growth rate from 2021 to 2028.*
"Most vape customers are fearing restricted supply, increased shipping costs and added complexity and inconvenience in getting their orders. This cooperative integration increases access for adult customers and addresses logistical challenges with convenient local pick-up solutions. More importantly, this allows us to continue serving the vaping community." says Tommy Sy, CEO of Element Vape.
About Element Vape
Established in 2013, Element Vape is a progressive retail establishment in the electronic cigarette industry based out of California. Its philosophy is to give consumers more than what they pay for.
www.ElementVape.com
About PUDO Inc.
PUDO Inc. is North America's only carrier-neutral parcel pick-up and drop-off counter Network, conceived to resolve the last-mile parcel-traffic-control gridlock that challenges North America's$827B retail e-commerce sector, and eliminate over $6B in door-dropped parcel theft.
PUDO's team of logistics and parcel traffic management experts have created a plug-and-play, pay-as-you-go platform and Network of parcel pick-up and drop-off storefront counters known as PUDOpoint Counters, strategically located very near to where people live, work and play.
The PUDO model reduces or eliminates crippling last-mile related expenses for online retailers, marketplaces and carrier/delivery partners, with fulfillment and distribution solutions that include parcel storage and consolidation for click-and-collect deliveries, online returns, and the nearly 35% of e-commerce parcels that are undeliverable on first attempt.
Membership in the PUDOpoint Counters Network program offers consumers 'parcel receipt certainty,' early/late/weekend pick-up and return convenience, 100% elimination of door-drop parcel theft, and a mobile home-away-from-home address Network that goes wherever they do.
The PUDOpoint Counters Network provides all carriers, retailers, and consumers with badly needed cost controls, choice, and convenience.
www.pudopoint.com
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*https://www.verifiedmarketresearch.com/product/e-cigarette-and-vaping-market/
Forward-Looking Statements
Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, such as statements regarding estimated revenues from new contracts, increased parcel volume, activation and implementation of PUDO's technology and possible future expansions of PUDO's operations. This information is based on current expectations and assumptions of management, including assumptions concerning PUDO's ability to integrate its new customers into its network and successfully execute on its new and existing contracts. The use of any of the words "anticipate", "believe", "expect", "plan", "intend", "can", "will", "should", and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company's public documents filed on SEDAR. This press release, in particular the information in respect of estimated revenues, may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law.
SOURCE PUDO Inc.
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