ROSEVILLE, Calif., Jan. 09, 2020 (GLOBE NEWSWIRE) -- via NetworkWire - InnerScope Hearing Technologies Inc. (OTCQB: INND) ("InnerScope"), a manufacturer and Direct-to-Consumer ("DTC") distributor/retailer of FDA-Registered Hearing Aids, Personal Sound Amplifiers Products, ("Hearing Products") Hearing Related Treatment Therapies, Doctor-Formulated Dietary Hearing Supplements and proprietary CBD Oil ("Hearing Health Products") (collectively "Hearing Product Portfolio"), announces its plans to distribute its new unattended fully automated shelf-top design of its Point of Sale Hearing Screening Retail Kiosks ("Retail Shelf-Top Hearing Kiosk") to major "Big Box" retailers and pharmacy chains (the "Retailers"). InnerScope specifically developed the Retail Shelf-Top Hearing Kiosk to be easily integrated alongside its Hearing Product Portfolio within any Retailer's product shelf space or used as an end cap retail shelf display. The Retail Shelf-Top Hearing Kiosk provides the public FREE, EASY & CONVENIENT access to a quick 2-minute self-administered hearing-screening test and also provides visual merchandising and information for purchasing InnerScope Hearing Products directly off the shelf.
The development of the Retail Shelf-Top Hearing Kiosk not only gives InnerScope the opportunity for increased market penetration in the current $5 billion U.S. hearing aid market (currently 98% of all hearing aids in the U.S. are sold and dispensed through hearing healthcare professionals), but also to grow the U.S. hearing aid market by offering its Hearing Products in thousands of major retail locations. InnerScope believes its Retail Shelf-Top Hearing Kiosk located on retail store shelves next to its affordable Hearing Product Portfolio will give convenient access to motivate the reported 42 million Americans who are currently at high risk and/or living with documented multiple health and cognitive consequences due to untreated hearing loss (the "Underserved Market") to purchase InnerScope's Hearing Products.
The Retail Shelf-Top Hearing Kiosk was designed after InnerScope has had many discussions with several major "Big Box" retailers and pharmacy chains that requested different options based on each Retailer's merchandising planogram and retail floor space. With the development of the Retail Shelf-Top Hearing Kiosk model, the Retailers now have the option to either locate InnerScope's original designed interactive fully automated (unattended) Point of Sale Hearing Screening Retail Kiosks and Untreated Hearing Loss information Center by the blood pressure kiosk for example, and/or to have the Retail Shelf-Top Hearing Kiosk model located on the shelf next to InnerScope's retail display of its Hearing Product Portfolio ("collectively Retail Hearing Kiosk").
InnerScope expects each Retail Kiosk to generate a minimum of ten thousand dollars ($10,000) of net gross sales per month of its Hearing Product Portfolio. Additionally, InnerScope believes each Retail Kiosk deployed will generate an exponential compounding asset of an additional ten thousand dollars ($10,000) per month from all of the "Big Data" collected from each Retail Hearing Kiosk.
InnerScope is currently reviewing several immediate opportunities to enter into distribution and/or joint venture agreements ("Upcoming Agreements") that can have a positive impact on revenue and profitability. With all the high level of interests from the major "Big Box" retailers and pharmacy chains for its Retail Hearing Kiosk and its Hearing Product Portfolio, InnerScope plans on delivering on its Upcoming Agreements as well as completing several hundred orders already in the pipeline of its Retail Hearing Kiosks under current Agreements to be deployed within the U.S. and Canada. InnerScope anticipates successfully deploying hundreds of Retail Hearing Kiosks and thereby selling millions of dollars of its Hearing Product Portfolio by years end of 2020.
"We are excited with the development of the Retail Shelf-Top Hearing Kiosk," said Matthew Moore, CEO of InnerScope Hearing Technologies. "The new smaller and portable Shelf-Top design was a direct result from numerous discussions with multiple 'Big Box' retailers and pharmacy chains that may have limited retail floor space and/or desired an in-shelf retail display model. Both Retail Hearing Kiosk designs allow the public FREE, EASY & CONVENIENT access to regularly and quickly check their hearing while shopping in the store. Given the Underserved Market of 42 million Americans that have been reported to need hearing help and the potential of additional tens of millions of people that just want to check their hearing, we believe, as well as the Retailers believe, InnerScope's Retail Hearing Kiosks will not only provide a value added service for the Retailers and their customers, but also will help create a hearing health and information destination center for the public, which in-turn will drive additional on-going traffic into the Retailers' locations."
About InnerScope Hearing Technologies (OTCQB: INND)
InnerScope Hearing Technologies (OTCQB: INND) is a rapidly expanding consolidator of the hearing aid industry. Management is applying decades of profitable industry experience and technology to an antiquated and disjointed industry, unlocking scale and efficiency, which will serve all of InnerScope's stakeholders. Its direct-to-consumer model is revolutionizing the industry with its Walmart.com, Sears.com and Kmart.com relationship representing a paramount shift in the consumption of hearing aids by the hearing impaired.
In addition, InnerScope plans to continue to open, acquire, and operate a physical chain of clinics aiding audiological and retail hearing. InnerScope's mission is to serve approximately 1.2 billion people around the globe that are suffering with 25db or greater hearing loss across the entire hearing impaired vertical from R&D and manufacturing through direct consumer sales and services. For more information, please visit: www.innd.com. For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @INNDstock Page. https://twitter.com/inndstock
Safe Harbor
This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are intended to be covered by the "safe harbor" created by those sections. Any statements that are not historical facts contained in this press release are also "forward-looking statements" as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA). Such statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing or maintain contractual relationships with vendors and customers, competition, general economic conditions and other factors that are detailed in our periodic reports filed with the Securities and Exchange Commission ("SEC"). We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA, Securities Act and Securities Exchange Act.
Contact
InnerScope Hearing Technologies, Inc.
Investor Relations
Info@innd.com
916-218-4100
www.innd.com
For the Most Up-to-Date information about InnerScope Hearing Technologies (OTCQB: INND), please visit and follow our Official Twitter account @INNDstock Page.
Point of Sale Hearing Screening Retail Kiosks
Corporate Wire Service:
NetworkWire (NW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkWire.com