BIRMINGHAM, Mich., Dec. 6, 2012 /PRNewswire/ -- A rising star in the energy shot space, ON GO Energy, today announced the company is projecting double-digit growth for 2013 based on 2012 product sales and a continued market rollout of its expanded product line.
To exceed consumer demand, ON GO Energy has introduced energy shots available in regular and extra strength formulas, as well as fruity flavors such as Lemon Lime, Berry Blast, Mandarin Orange, Grape, Fruit Punch and Pomegranate Blueberry. In the past year, approximately 50 percent of ON GO's existing distributors, including select Walgreens stores, have expanded the number of flavors they offer to consumers. The numbers continue to grow.
"The initial novelty of the energy shot has worn off. Taste has become an increasingly important purchasing factor," said Derrick George, Founder and CEO of ON GO Energy. "It's not surprising. Consumers just aren't happy with one generic flavor. It has to taste good too."
Energy shots comprise an estimated $2 billion category in the U.S. and $5 billion category worldwide. Research conducted by Chicago-based Mintel International has predicted energy shot sales to increase by 98 percent between 2011-2016 as consumers become more familiar with the shot category itself, which is still considered a fairly new addition to the energy beverage category.
Energy shots, which are typically lower in sugar and calories than energy drinks, maintain the caffeine pick-me-up often found in a cup of premium coffee.
George also attributes ON GO Energy's success in part to a careful pricing strategy that helps retailers easily position the company's nutritional supplement as an add-on purchase. ON GO's regular formula retails for only 99 cents per two-ounce shot. The company's extra strength formula typically sells 3 bottles for $5.
"At home and at the office, people are working harder than ever. Busy adults should be able to get the quick energy boost they need without breaking their wallet," added George. "For ON GO, it's important that our product is financially within reach of the consumer."
The energy beverage category has been popular with Asians for years, consuming genki drinks as a way to maintain their health. It has only been since about 2004 that manufacturers have begun to experiment with shot-like beverages in the U.S. Due to its success here, George sees consumers gravitating to organic energy beverages in the future.
"Similar to the evolution of genki drinks, from preventing high cholesterol to hair growth, there soon will be an energy shot-style drink for everything," said George. "It's up to the manufacturers in the space to refrain from being lulled into a sense of complacency about their product, remain innovative and responsive, and anticipate consumer demand."
ABOUT ON GO ENERGY
Founded in 2006, Birmingham, Mich.-based ON GO Energy is the "better for you" energy shot. Safe, effective and affordable, the nutritional supplements are used by busy adults to deliver enhanced stamina, focus and endurance for hours. Six fruit flavors set them apart from the competition. ON GO Energy distributes locally, nationally, and has opened up international outlets in South America, with a focus on additional international markets. For more information, please visit OnGoEnergy.com.
SOURCE ON GO Energy