- Cabanalytics Consumer Insights (CCI) Creates a
High-Margin Revenue Opportunity for the Company Through Ad Revenue
Generation, Subject to Federal and Provincial
Regulations
- CCI Will Further Solidify the Loyalty Loop With Our Club
Members, Product Innovators, Brand Manufacturers and Licensed
Producers
- The Company Plans to Extend and Expand CCI Distribution
to its Global Customer Database of 4.6 Million in the Coming
Months
CALGARY,
AB, Sept. 14, 2023 /CNW/ - High Tide Inc.
("High Tide" or the "Company") (Nasdaq: HITI) (TSXV:
HITI) (FSE: 2LYA), the high-impact, retail-forward enterprise built
to deliver real-world value across every component of cannabis,
announced today the launch of Cabanalytics Consumer Insights
("CCI"), a consumer-facing magazine style digital
publication which is an extension of the highly successful
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 best-selling flower, edibles, vapes and concentrates to the
most cutting-edge 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 US.
"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.
ABOUT HIGH TIDE
High Tide, Inc. is the leading community-grown, retail-forward
cannabis enterprise engineered to unleash the full value of the
world's most powerful plant. High Tide (HITI) is uniquely-built
around the cannabis consumer, with wholly-diversified and
fully-integrated operations across all components of cannabis,
including:
Bricks & Mortar Retail: Canna Cabana™ is the largest
non-franchised cannabis retail chain in Canada, with 156 current locations
spanning British Columbia,
Alberta, Saskatchewan, Manitoba and Ontario and growing. In 2021, Canna Cabana
became the first cannabis discount club retailer in Canada.
Retail Innovation: Fastendr™ is a unique and fully
automated technology that integrates retail kiosks and smart
lockers to facilitate a better buying experience through browsing,
ordering and pickup.
E-commerce Platforms: High Tide operates a suite of
leading accessory sites across the world, including Grasscity.com,
Smokecartel.com, Dailyhighclub.com, and Dankstop.com.
CBD: High Tide continues to cultivate the possibilities
of consumer CBD through Nuleafnaturals.com, FABCBD.com,
blessedcbd.de and blessedcbd.co.uk.
Wholesale Distribution: High Tide keeps that cannabis
category stocked with wholesale solutions via Valiant™.
Licensing: High Tide continues to push cannabis culture
forward through fresh partnerships and license agreements under the
Famous Brand™ name.
High Tide consistently moves ahead of the currents, having been
named one of Canada's Top Growing
Companies in both 2021 and 2022 by the Globe and Mail's Report on
Business Magazine and was ranked number one in the retail category
on the Financial Times list of Americas' Fastest Growing Companies
for 2023. To discover the full impact of High Tide, visit
www.hightideinc.com. For investment performance, don't miss the
High Tide profile pages on SEDAR+ and EDGAR.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this
release.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS
This press release may contain "forward-looking information"
and "forward-looking statements within the meaning of applicable
securities legislation. The use of any of the words "could",
"intend", "expect", "believe", "will", "projected", "estimated" and
similar expressions and statements relating to matters that are not
historical facts are intended to identify forward-looking
information and are based on the Company's current belief or
assumptions as to the outcome and timing of such future events. The
forward-looking statements herein include, but are not limited to,
statements regarding: the expansion plans for CCI and the timing
thereof, the receipt of all regulatory approvals and the ability of
the Company to generate high-margin ad revenue from advertising
opportunities, and the inclusion of future types of data in the CCI
report. Readers are cautioned to not place undue reliance on
forward-looking information. Actual results and developments may
differ materially from those contemplated by these statements.
Although the Company believes that the expectations reflected in
these statements are reasonable, such statements are based on
expectations, factors, and assumptions concerning future events
which may prove to be inaccurate and are subject to numerous risks
and uncertainties, certain of which are beyond the Company's
control, including but not limited to the risk factors discussed
under the heading "Non-Exhaustive List of Risk Factors" in Schedule
A to our current annual information form, and elsewhere in this
press release, as such factors may be further updated from time to
time in our periodic filings, available at www.sedarplus.ca and
www.sec.gov, which factors are incorporated herein by reference.
Forward-looking statements contained in this press release are
expressly qualified by this cautionary statement and reflect the
Company's expectations as of the date hereof and are subject to
change thereafter. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, estimates or opinions, future events or results,
or otherwise or to explain any material difference between
subsequent actual events and such forward-looking information,
except as required by applicable law.
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SOURCE High Tide Inc.