Business
High Tide Becomes North America's First Cannabis Discount Club Retailer With Over 245,000 Members
High Tide Becomes North America's First Cannabis Discount Club Retailer With Over 245,000...
About this update from High Tide, Inc.
[{"type":"text","content":"\n \n \n \n High Tide Becomes North America's First Cannabis Discount Club Retailer With Over 245,000 Members\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen1{\nBORDER-TOP:0pt; BORDER-RIGHT:0pt; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt; BORDER-LEFT:0pt\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n \n \n Starting today, all Canna Cabana retail cannabis stores will transition to a discount club concept with exclusive benefits targeted to Cabana Club members. This accelerates High Tide's previously-announced entry into the value segment, and positions the Company as the largest cannabis value retailer overnight.\n \n \n \n \n \n \n \n \n High Tide's mature ecosystem of in-house brands and products perfectly positions the Company to become an exclusive cannabis discount club retailer and to eventually grow its Cabana Club loyalty plan into a global, membership-based cannabis community.\n \n \n \n \n \n \n \n \n Approximately 40% of Canadian cannabis sales are still conducted through the illicit market.\n \n \n \n 1\n \n \n \n With over 70% of Canadian cannabis consumers being especially price-sensitive, this announcement positions High Tide to gain market share by converting legacy customers into Cabana Club members.\n \n \n \n 2\n \n \n \n \n \n \n \n \n \n \n \n Cabana Club members will gain exclusive access to everyday low prices, member deals, and high-quality proprietary consumption accessories and brands. As regulations evolve, the Company also plans to explore the potential to launch subscription boxes for Cabana Club members, featuring brands and products from High Tide's portfolio companies.\n \n \n \n \n \n \n \n \n Same-store sales and customer loyalty are projected to continue their upward trajectory in the coming weeks and months based on the results from two successful pilot projects which the Company undertook beginning in mid-April, that involved reduced margins on consumption...