Medterra’s Post

The #cannabis #industry is undergoing a remarkable #transformation. Gone are the days when success was measured solely by the size of the buds. Today, #innovative companies are redefining success by offering a diverse range of products, from mood-boosting gummies to #pain-relieving lotions. Science is also at the forefront, ensuring safe and #consistent experiences through rigorous research. Not to mention, dispensaries are evolving into welcoming spaces staffed with knowledgeable professionals, enhancing #customer experience. Customers are no longer restricted to smoking #traditional cigarettes; instead, they may choose from a range of products that provide discretion and convenience. Edibles that offer a safe and enjoyable method to #consume #cannabis, like baked products, chocolates, and gummies #infused with #CBD, have created new market niches. Drinks, which include coffee, tea, and even other party beverages, satisfy the needs of individuals seeking a refreshing and social substitute. North America has been at the forefront of #legalizing #cannabis, but now Europe, Latin America, and Asia-Pacific are also showing strong interest in its #medical and #recreational uses. These areas are changing their rules, and more people are accepting cannabis use.

From our CEO and Co-Founder David Kooi: Shopping for cannabis is hard. What makes it hard? 1. Cannabis is a complex plant that produces of variety effects 2. People use it for a variety of purposes. 3. Existing frameworks for product selection are insufficient Until we make cannabis easier and more approachable, there exists an artificial limit on the size of the industry. And a corresponding limit on society's collective wellbeing. What are your favorite ideas for making shopping for cannabis easier? It's my view that we should help people shop for cannabis based on the reasons why they want to consume - and help them find products that will deliver the kind of experience they're after. And we should use data to do it. In this article, I advocate for a data-driven, goal-based approach to cannabis shopping. And I contrast that approach to shopping based on: Potency Price Strain Strain Type Branding / Packaging Celebrity Endorsements Anecdotal Personal Experience Consumer Product Reviews Expert Product Reviews Cannabinoids Terpenes Effects Flavor / Aroma Margins Read it here: https://lnkd.in/ed2qd6te #cannabis #cannabisretail #cannabisindustry #purposefulconsumption

Unveiling the Cannabis Product Powerhouse of 2024: Beyond the Bud The cannabis market continues its rapid evolution, and staying ahead of customer preferences is crucial for dispensary success. While flower remains a dominant player, exciting new categories are surging in popularity. In our latest blog post, we explore the top cannabis product trends for 2024: ✅ The Enduring Appeal of Flower: Flower retains its market share, but understanding profit margins and customer preferences is key. ✅ Diversification Takes Root: Discover the growing demand for edibles, pre-rolls, beverages, and sublingual products. ✅ Catering to Your Clientele: Learn how to tailor your inventory based on medical vs. recreational use and regional trends. Click the link below to access the full report and unlock valuable insights for optimizing your store's success in 2024 🔗 https://lnkd.in/g-Qc76Fi #cannabis #cannabisindustry #dispensary #cannabisproducts #trends #marketresearch #TechPOS #profitability

In a landmark decision, the FDA has approved Altria's NJOY flavored e-cigarettes for sale in the United States. This approval marks a pivotal moment in regulatory approaches to e-cigarettes and their market impact. Professionals in the tobacco and healthcare industries, read more about the implications here: #HealthcareIndustry #RegulatoryNews

A game changer for inventory management… Metrc's new Retail ID solution introduces serialized QR codes to the cannabis industry, allowing real-time access to detailed product information such as origin, potency, and lab results. This system standardizes product identification from seed to sale, improving supply chain transparency and regulatory compliance. Check it out below

Tilray Q4 Earnings: Revenue, EPS Beat As Cannabis, Beverages, Wellness Converge On A Global Scale, Driving 'Remarkable Growth', read more on the latest from Benzinga by Adam Eckert. Features Tilray Brands, Inc., Irwin D. Simon. #Cannabis #CannabisNews #Revenue #EarningsReport #Market #Industry #BZCannabis.

Have you thought about bundle packages for your cannabis dispensary or delivery? If you haven't, it could be a good way to increase AOV and basket size. Our partner and former Director of Marketing Jeff Dillon at Smoakland implemented during his time there and saw a 33% increase in AOV. We all know margins are razor-thin in our industry, and when we can increase that basket size, it helps balance out those margins via total cost per individual purchase. It’s the same strategy used by McDonalds' to sell value meals at irresistible prices. (Well at least they used too....) Think about offering a specific strain of cannabis, along with complementary items such as a concentrate, a pre-roll, edibles, or the new odd form factor you just brought in. This encourages customers to try products they might not have purchased independently. And of course, it's also helpful for managing your inventory more effectively. Are you offering bundles at your dispensary? If yes, have you noticed any interesting patterns?

Hemp-derived THC might be the darling of LinkedIn right now (go team hemp beverages!), but I’m still a believer of the regulated marijuana industry—just not necessarily as the CPG model we thought it would be by now. With California’s SB 57 allowing Dutch-style cannabis cafes by 2025, the future of marijuana continues to point toward an experience-based industry. This may seem at odds with the rise of mainstream low-dose beverages (which now make up 23% of edible sales according to Headset), but it’s not. As we wait for federal legalization, retailer-first businesses are driving the cannabis industry forward by creating what I typically call the “coffee shop” strategy—welcoming, community-focused spaces that offer more than just a product. Whether through lounges, in-store experiences, online ordering or drive-thru dispensaries, these environments build real connections with their customers. It’s these experiences that will help shape how cannabis is embraced in the long run. So while we collectively work out this whole “hemp vs marijuana” argument, support your local dispensary…they’re still a big part of our cannabis world!

"Are you ready for the heat that will define Southern California in 2024? The High Times Cannabis Cup SoCal: People’s Choice Edition is back in town, and the offerings of cannabis flower and products are set to redefine the selection. It’s an adult-use competition celebrating some of the best #cannabis products in the region—one of the largest cannabis markets of its kind on the planet. Product submissions will be accepted from cannabis retailers and businesses beginning April 1-3. Judge Kits go on-sale beginning on April 8. Judges will have nearly two months to let the Once that takes place, Judges will be expected to narrow down the winners by June 2. Judges fill out scorecards, indicating how each submission measured up. Judges assess how each strain looks, tastes, smells, effects, and burnability on a scale of one to 10. An email is automatically sent to confirm each time a strain or product review is submitted. The emails also serve as a placement point to know which strains have already been completed. These scorecards ultimately determine who wins. Finally, the winners of this highly-anticipated event will be announced via a livestream on June 16. The original HIGH TIMES #CannabisCup #SoCal was first introduced as an in-person event that was held between 2015-2019. The pandemic changed things up, shifting a move into People’s Choice events which put the power in the hands of the people, in this case, the fine people of Southern California. This #HighTimes Cannabis Cup #event offers consumers the unique opportunity to experience the finest cannabis available to consumers—relative to the specific market of Southern California. For retailers, this is more than just a competition—it’s a chance to elevate products on a For cannabis brands that wish to submit products for this year’s competition, please refer to the following rules to bring your product to a global stage and compete for the esteemed #HighTimesCannabisCup." - HIGH TIMES