Benzinga Miami Reveals More Cracks In Cannabis
Cannabis leaders shared tips on how to navigate the challenging market
Despite a struggling stock market, consumer demand for cannabis is higher than ever – and companies are focused on creating clear, enjoyable experiences to drive growth. That sentiment permeated the recent Benzinga Cannabis Capital Conference in Miami, where cannabis industry leaders gathered to discuss strategies and insights.
To succeed, companies need to understand their consumers and offer a diverse range of products and price points to capture a variety of consumers, according to Gary Santo, CEO of TILT Holdings. The past focus of “super-high end” and “ultra-premium” focus is no longer enough to meet customer needs.
Brett Novey, CEO of Pharmacann, echoed the sentiment of tailoring your products for different landscapes. “If you want to have a brand that’s going to last the market, you have to evolve with the market,” he said.
“If all we had was 10 milligrams (in a new market), and there are all these new customers who are so excited about legalization and are coming to try cannabis for the first time, and you’re like, ‘Sorry, all we have is 10 milligram gummies – cut it into fourths,’” he added. “That’s a horrible customer experience.”
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