INSIGHTS:
While still in its early stages, the psychedelics industry is poised for rapid expansion. As public awareness of psychedelics’ therapeutic potential continues to expand, the demand for ethical and trustworthy brands within this burgeoning sector is intensifying.
Read MoreTouching on Harmony Craft Beverages’ recent article about the latest trends in beverage, we wanted to share some key insights and learnings from a marketing perspective.
Read MoreDue to the impact of COVID-19 and the restrictions on business operations, fewer consumers are “browsing” before purchase in a retail locations. Increased options for delivery and “direct-to-consumer” purchasing have also caused brands to quickly transition their business strategy to a digital first model.
Read MoreAs 2020 was getting started and brands were gearing up for a big 4/20 month, COVID-19 hit and crushed hopes of the industry for mid-year events such as Expo West and Hall of Flowers. However, as the COVID-19 crisis expands, the situation is showing signs that it could be a catalyst for growth in the cannabis market.
Read MoreRising sales of zero-alcohol adult beverages indicate adults who want to drink less still enjoy “getting together for drinks.” Infusing these same zero-alcohol products with THC opens an enticing new entry to cannabis for potential users seeking an alternative to alcohol that, unlike smoking or vaping, is familiar. This may have a positive effect on new customer retention, if the first-time THC consumer can simply purchase cannabis- infused versions of products they already enjoy.
Read MoreThe balance to strike is managing storytelling angles that cater to a new generation and a new culture. One that is not of excess, like the dotcom bubble, but one that focuses on clean-living, is passionate about social issues, and busts stereotypes. Marketing for cannabis should also have an eye toward differentiation. Many dotcom brands were in similar market spaces, and it was often difficult to tell which online pet or office supply site was better or worse than another.
Read MoreThe surge in private investment in cannabis this year already shows that professional investors expect the road to lead to total legality. In the meantime, as cannabis becomes an increasingly viable ingredient in applications ranging from pharmaceutical pain treatment to adult beverages, the investment path is evolving like many industries that came before – and more cautious investors are showing a willingness to enter the space.
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