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Looking forward to tomorrow! Data analysts estimate that the legal cannabis market in California will overtake the illicit one this year, with sales reaching 7.2 billion U.S. dollars in the legal market, and 6.4 billion U.S. dollars in the illegal market. There is so much opportunity for legal retailers to win the California consumer through smart segmentation and strategy. Don’t miss this stacked panel for some real talk on driving cannabis profits at Benzinga Cannabis.

Cannabis businesses tend to rely heavily on discounts to drive their sales. While this tactic is effective in the short term, it may ultimately harm the company in the long run. The reason? It only appeals to value shoppers who are just looking for the next best deal. To build a stronger customer base, you must appeal to all shoppers, not just discount hunters. Dispensaries should focus on segmenting their messaging to target different customer groups based on shopping preferences. This way, they can sell their products to a broader range of customers, not just those looking for bargains. Listen to Jake Litke, CEO of MediaJel, and Matt Taverna, Principal of Statara Solutions, as they share valuable insights on using first-party data to develop segmented marketing strategies. Watch the full video here> https://bit.ly/3tAmzmR #MediaJel #webinar #cannabisbusiness #dispensaries #cannabismarketing #datasegmentation #firstpartydata

📊The Cannabis Retail Landscape is Shifting in H1 2024! Curaleaf and Cookies maintain strong leadership in brand awareness, but we're noticing a few changes in H1 2024: Curaleaf continues to dominate, while Cookies has gained ground. Meanwhile, STIIIZY and Rise are seeing substantial growth, reflecting their increasing presence in key markets. Curious about the "why" behind consumer behavior and market dynamics in cannabis retail? Our 𝗨𝗦 𝗖𝗮𝗻𝗻𝗮𝗯𝗶𝘀 𝗥𝗲𝘁𝗮𝗶𝗹 & 𝗣𝗿𝗼𝗱𝘂𝗰𝘁 𝗕𝗿𝗮𝗻𝗱 𝗛𝗲𝗮𝗹𝘁𝗵 dashboards provide comprehensive visibility into brand awareness, usage, and consumer perceptions across the cannabis industry. 📈 Stay ahead of the competition with data that tells the full story. Book a demo today to see how our insights can drive your strategy 👉https://hubs.la/Q02SRdKt0 #CannabisIndustry #CosumerInsights #MarketIntelligence #MarketResearch #BrightfieldGroup

If you've ever heard Lara Fordis talk market research, you will know that she is a legitimate rock star in the space. No matter your industry, (e.g. cannabis, consumer goods, grocery stores, beverages, campers, swimming pools) she will come up with some unique and compelling strategies. She's boutique, so less pricey than a big market research firm, but she's getting really busy; my advice, if you have a market research project in mind, engage now!

Big things are happening here at 240L! Check out our recent cannabis consumer pulse survey, and be a part of shaping our upcoming industry guide 💥 #Cannabis #CannabisCommunity

Did you hear about that NECANN presentation from the market research lady with the potty mouth? Yeah, that was me… But beyond the colorful language was a message crucial for every cannabis industry stakeholder. We unveiled the concept of “Invisible Shoppers” and presented hard data challenging current market perceptions. Findings from our 2021 and 2024 Invisible Shopper™ Research are not just about correcting course; they're about recognizing the diversity and complexity of consumer behavior that POS data alone can't capture.    For example, in our 2021 data, only 43% of shoppers were shopping for themselves in Massachusetts, whereas 56% were shopping for themselves in 2024. Brands can ask some questions here, such as:   1)   Why was the ratio of Invisible-to-Visible shoppers different in 2024 compared to 2021? 2)   What types of products did the Invisible Shoppers consume before they ever entered a dispensary to shop for themselves? 3)   Most important, what proportion of converted Invisible-to-Visible Shoppers entered dispensaries to shop for *my* product(s)? If you're ready to dive into the nitty-gritty and truly understand your market, reach out. Let's explore the real cannabis consumer landscape together. #CannabisIndustry #ConsumerBehavior #RealTalk

Who’s Leading the Hemp-Derived THC Market? 🔎 Brightfield Group's data on Hemp-Derived THC Consumers preferences reveals the top brands capturing consumer attention in Q1 2024. These brands are setting the pace in the market, driving consumer interest and shaping the future of hemp-derived THC. Is your brand in the top tier? Download our report to discover what THC consumers are looking for: https://hubs.la/Q02NZlRK0 #HempTHC #ConsumerInsights #CannabisIndustry #BrightfieldGroup

Excited to share that I'll be speaking at the Benzinga Cannabis Capital Conference to delve into the dynamic world of the customer retail experience within the cannabis industry! Join me as we explore innovative strategies, consumer trends, and the evolving landscape of cannabis retail. If you plan on attending please reach out and see you there! 🚀 #BenzingaCannabisConference #CannabisRetail #IndustryInsights

Fun fact! The potential impact of 4/20, also known as cannabis day, on CPM in other niches 🤡 As a result of the drop, you may advertise to an irrelevant audience. Relevant to 4/20 advertisers significantly increase budgets to get the most out of the traffic. Other similar periods include times associated with holiday discounts and special events, such as Black Friday and Cyber Monday. According to Akerna report, in 2022 sales of adult-use and medicinal marijuana increased by nearly 40% compared to the previous year, setting a new record of $154.4 million on April 20th alone. If we add up sales from the pre-holiday season, the amount will near $500 million. And this amount increases year by year. This can also impact ad delivery in other niches, as increased competition for audience attention affects the cost and availability of advertising space.

A fascinating study by Fulmer and Reich in the Journal of Consumer Psychology highlights that chance-based promotions can be a game-changer for hedonic products like cannabis. By adding a hint of surprise, dispensaries can make promotions feel fresh and engaging, increasing both click-through rates and in-store purchases. Why It Matters: This approach not only elevates the shopping experience but also boosts brand perception. Consumers tend to see brands that use chance-based promotions as more fun and approachable—perfect for standing out in a competitive market. Takeaway: With HighRewards, dispensaries can easily integrate chance-based promotions to attract more foot traffic and create memorable experiences. Looking to add some excitement to your dispensary's promos? HighRewards can help you bring the thrill to your customers! #consumerbehavior #cannabispromotions #highrewards #retailinnovation #funfactor #dispensarymarketing