High Tide announced today the launch of Cabanalytics Consumer Insights, a consumer-facing magazine style digital publication which is an extension of the Cabanalytics business data and insights platform.
Starting today and continuing monthly, over 1.1 million ELITE and Cabana Club members will receive free insights into all things cannabis, from the flower, edibles, vapes and concentrates to consumption accessories and cannabinoid products hitting the market. In the coming year, the company plans to extend CCI to its global customer database exceeding 4.6 million, including 3 million customers in the U.S.
"Innovation is a key part of High Tide's DNA, which led to the launch of our unique discount club model two years ago and our paid membership tier ELITE almost a year ago. Today, I'm thrilled to announce the launch of Cabanalytics Consumer Insights, an extension of our highly successful Cabanalytics business data and insights platform. Subject to provincial and federal regulatory approvals, we expect over time to be able to generate high-margin ad revenue from brands and product manufacturers across the cannabis value chain for advertising opportunities to reach our captive, targeted and extremely relevant base of over 1.1 million members and growing. This launch also helps us further solidify the loyalty loop and relationships with our customers, product innovators, brand manufacturers and licensed producers. As the largest non-franchised retailer in Canada, High Tide is on the leading edge of consumer data. This extensive magazine-style report will provide robust data insights on consumer behaviour, the brands and products that are trending in our international ecosystem and showcase the latest and greatest portfolio of products across all cannabis and ancillary categories, including some educational and blog-style content for cannabis enthusiasts and the canna-curious alike," said Raj Grover, President and Chief Executive Officer of High Tide.
"With this launch, we continue to innovate and extract additional value from our existing cannabis ecosystem and infrastructure. CCI will be distributed at no charge to our ever-increasing membership base of over 1.1 million loyal ELITE and Cabana Club members here in Canada and eventually extended to our unmatched global customer database of 4.6 million, including 3 million US customers. Showcasing these comprehensive and extensive data-driven consumer insights to our rapidly expanding customer base gives cannabis growers, vapes, edibles and beverage manufacturers, as well as consumption accessory and cannabinoid companies, the opportunity to create further brand and product awareness that aligns with what our loyal club members and customers are purchasing every month. In the coming months, the CCI report will also include data on hydroponics, cannabis seeds, and growing equipment. I look forward to the success of CCI and am excited to share our fiscal third-quarter earnings with everyone later this afternoon," added Mr. Grover.