Nancy Duitch

As the cannabis industry matures, we are starting to get reliable data. This can help make decisions based on real sales figures and not predictions. 10 years ago, there was only one state with adult use sales (#colorado) and a handful of states with medical seals. Now there is 24 sates with adult use sales and an additional 15 states with medical seals. At the moment #california leads with total seals but #michigan leads with per capita seals. #florida leads in medical seals. #missouri with a relatively small population and only 17 months since they launched their adult-use market, is already in fifth place. Thank you Debra Borchardt from Green Market Report for the financial update. #cannabisindustry #cannabiscommunity #cannabisnews #cannabiseducation #cannabispolicy #cannbislaw https://lnkd.in/gc96gcCh

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'Flavored' disposable nicotine vape products are controversial. I must admit I was not happy when they "exploded" on the market. But my opinion changed. Why? I looked at the evidence. 63% of US adults who vape nicotine to avoid deadly cigarettes use them. If we believe what Altria is telling their investors in this Earnings Report, then we must consider the possibility that 11.7 million US adults now use 'flavored' disposable nicotine vapes. I have checked with lawyers: They ARE legally required to tell investors the truth in an Earnings Report. Strange Bedfellows: FDA, big tobacco, the Campaign for Tobacco Free Kids, and Parents against Vaping E-cigarettes (PAVE) all seek to remove these products from the shelves. This is standard Baptists and Bootleggers behavior (see economist Bruce Yandle). If they succeed and "only" 10% of adults who currently use these things shift or relapse to smoking deadly cigarettes (which kill half of all users), then FDA regulatory action will cause 585,000 premature deaths. I am not a professional bioethicist. But I have taught Healthcare Ethics to med students at Howard University Medical School. So I'm pretty sure that would be a profound violation of fundamental moral principles in Healthcare Ethics (e.g., do no harm). The driving force behind current efforts to prohibit these products, which the FDA has unilaterally decided are not "Appropriate for the Protection of Public Health," is a strange conjunction of (a) moral panic over teen use and (b) conventional "amoral" corporate kill-your-competitors strategy. The problem? Teen use of any nicotine vape has dropped 70% over the past five years, to a 10-year low, during the exact 4-5 year time period during which 'flavored' disposables "flooded the market." US teen use of disposables is dropping, not rising (ref. CDC NYTS). So that justification for prohibiting products that 11.7 million US adults now use just got a lot weaker... IMHO: Those who can't or won't change their minds when new evidence merits doing so, are clearly biased.

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Why are value brands and high end brands dominating the cannabis space? It’s the natural progression of a commodity CPG product: Phase 1: Price Shopping The market is new. Supply has not met demand. Goods are overpriced and most shoppers buy the most THC they can, for the least amount of money. Novelty goods move well becuase there is still novelty in dispensary shopping, but there isn’t a ton of differentiation in SKUs. In general, consumers are not smoking as much as they would like. They come into a dispensary with $100, get a half oz or less, and wish they left with more. Phase 2: Value Shopping The market is somewhat mature. Supply has met demand but not necessarily outpaced it. Shoppers are searching for the best intersection of price and quality (aka value). Overpriced novelty goods start to die out, and good brands begin to differentiate themselves. In general, customers are smoking close to their fill every day, but they don’t have a ton of extra cash to try new things. They come into a dispensary with $100, get a cheap oz from a brand they trust or a half oz of nicer product, plus an infused preroll or two, and feel pretty damn good about their purchase. Phase 3: True CPG Shopping The market has matured. Supply has exceeded demand and prices are near the long term ‘true cost’. Shoppers repeatedly buy from brands they trust becuase they provide consistent value. They have ‘daily smoke.’ High end goods that demonstrate consistent value begin to take up a larger portion of baskets. Why…? Becuase customers can finally get as much product as they want for the $100 they walk in with, PLUS a lot more than a couple infused prerolls. They come into a dispensary, spend $60-70 on an oz or a premium half, and still have $30-40 to spend! What are they spending it on? PREMIUM PRODUCTS. They toss in a jar of Jeeter, a 710 Pod, or a Cookies 1/8th… Lastly, becuase dispensaries (and the brands they carry) have diversified and build their menus strategically, when a customer has $3.50 left, out of the $100 they walked on with, the store can capture that as well. Retailers need to make sure their budtender sales process integrates with this type of behavior. Are they letting customers know what their ‘running total’ is before they get tot the close of the transaction, so the customer can max out their spend? Do you have a variety of $10 or less items to fill in those gaps? Do you have a solid offering of premium products in the $20-40 range that your budtenders are incentivized to sell as add ons? Likewise, brands in developing markets need to do their part to ‘arm’ retailers with a line of products that serves the shift in behavior we’ve seen in developed ones. Start thinking more about MSRP and use that to justify your cost targets and wholesale pricing. Position your brand as a daily solution or a premium treat, or be lost in the muddle of the middle. More than anything, PROVIDE CONSISTENT VALUE. The rest will follow.

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Hiring a sr leader in cannabis? Industry experience is a MUST! if you’re looking to gin things up, this is a “can’t fail”. In reality, it depends. It depends on the role (maybe not necessary for the CEO, more likely so for the Director of Ops). It depends on the scale and stage of the company (probably not super important for the COO of one of the largest MSOs, probably more important for the <$20M operator). It depends on the complementary skill set of the supporting staff. It really depends on if flower products (bulk or packaged flower, prerolls) are included in the mix. Understanding why some flower does or does not sell is not always straightforward. Edibles and beverages, and even vape, are less nuanced.

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🌟 Exciting News from Sluggers 🌟 We’re thrilled to announce that we are actively seeking licensed manufacturers across the country to partner with us and bring the hottest brand in California to your state! Visit hitsluggers.com to learn more about our collectible cannabis products that are taking the market by storm. As we approach becoming the top brand in CA, our full lineup includes premium pre-rolls, vapes, rosin, and more. When you partner with Hit Sluggers, you’re not just getting an incredible product; you’re collaborating with one of California’s largest manufacturers and cultivators Natura (Natura Life Science) Why Partner with Us? 🔹 Proven Success: We understand both sides of the business and know how to ensure profitability. 🔹 Dynamic Brand: We are set to launch the most dynamic, sports-related cannabis brand nationwide. 🔹 Comprehensive Support: Benefit from our expertise in packaging, products, marketing, sales, and operations. 🔹 Quality and Control: We’re looking for partners with a robust supply chain to maintain high standards and increase profit margins and volume. We’ve received tremendous interest and are eager to find the right partners to expand our reach. If you’re ready to elevate your offerings with a top-tier cannabis brand, let’s connect! #HitSluggers #CannabisIndustry #PartnershipOpportunities #NaturalLifeScience #CannabisBrand #Manufacturing #LicensingOpportunity #CannabisCommunity Tag the license operator you want to see bring Hit Sluggers to your state! Let’s make history together! 🚀

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The cost of "flavored air"  According to the CDC 2.1 million young people currently vape in the US alone. Both vapes and cigarettes contain nicotine, which is highly addictive and it can be as strong as some hard drugs! E-cigarettes might even deliver a higher dose because of stronger cartridges and adjustable settings. Vaping also raises some red flags for lung health. Studies are finding potential links to chronic lung problems, asthma, and even heart issues. This is concerning because the chemicals used in vapes are relatively new, and their long-term effects are a big question mark. Another thing to consider is that vaping isn't actually approved  as a way to quit smoking (at least not in the US). Some people who tried using them to quit ended up using both cigarettes and vapes, especially young people. So, where does this leave us? For young people, vapes pose a serious risk. Disposable vapes are particularly popular among teens, making them more likely to experiment with nicotine than ever before. I've been reading studies in other countries where vapes are used as a treatment for people who want to quit smoking, which is interesting but my main concern is the use of these devices among people who have never smoked before. If you’re an adult looking to quit smoking: there are proven and safe alternatives available! Talk to your doctor about the best course of action for you. If you’re a parent or caregiver make sure to talk with your children about the risks of vaping and how this can lead to smoking addiction. Testimonial video taken from TikTok. #VapingAwareness #NotForKids #PublicHealth #healthylungs #pulmonologist #medicalExpert

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🚀 Exciting Times for Cannabis! 🚀 Coming from a background in CPG and alcohol, it's incredible to witness the rapid growth of the cannabis industry in both the US and Canada. Recent financial data from Beacon Securities Limited reveals that cannabis is set to outpace major players like Coca-Cola, Marlboro, and Budweiser in market growth. This presents a remarkable opportunity for investors as the sector remains undervalued compared to alcohol, tobacco, and other CPG giants. Here's a quick snapshot: 🔹 EV/Sales ratios for 2024-2025: Cannabis shows significantly lower ratios compared to alcohol and tobacco, suggesting it might be undervalued. 🔹 EBITDA CAGR for 2023-2025: Canadian Licensed Producers at 65% and U.S. Operators at 42%, far outpacing alcohol and tobacco. This indicates not only the robust growth potential but also an exciting investment opportunity as cannabis continues to expand. Thanks to Benzinga Cannabis for highlighting this information. Looking forward to seeing what is next. Jeni Cohen Cassie Tomaselli Elana Cohen Lori DeCarlo Lori Ferrara Elliot Lane Patrick Lane Emily Lehmann Kaitlin Domangue #CannabisIndustry #GrowthOpportunity #Investment #CPG #Alcohol #Tobacco #CannabisGrowth #MarketTrends #BusinessDevelopment #LKPImpactConsulting https://lnkd.in/g6kNXRiq

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Though I live in California and our office is here, I regret to say we can't definitively include the state in our 2025 roadmap. Let me explain why: I started working in California's medical cannabis industry in 2016. Back then, I learned one fundamental truth: consumers want three things: affordable, accessible, and safe cannabis. Since Prop 64, perceptions have shifted. Many consumers now view the unlicensed market as the superior supplier. In fact, this unlicensed market now delivers more cannabis than the licensed adult-use and AB-45 compliant hemp industries combined. A post I wrote 10 months ago proved prescient. Every ingestible brand has either pivoted to or added hemp-derived versions of their products. California's ban on hemp-derived THC has forced these brands, while still based here, to use out-of-state manufacturers, depriving our state of tax revenue. A question for California citizens: How does this serve our interests? If hemp falls under the DCC's jurisdiction, what changes? My prediction: nothing. The unlicensed market will continue to dominate. Overregulation has inflated costs and limited access, and no amount of safety-focused PR for DCC-licensed products will change this reality. Call me idealistic, but I believe government policy should prioritize consumers over private business interests. I empathize with my friends that invested into DCC licenses, however when you give consumers what they want, they reward you with loyalty and tax revenue. As a 23-year Californian, it's frustrating to watch our state obstruct its own progress. That's why we're turning our focus to states where we can offer safe, affordable cannabis beverages that truly compete with other beverages. I've always maintained these are beverages containing cannabis, not cannabis products in liquid form. Consumers treat them like beverages, so they should be regulated as such. The DCC was created with flower, edibles, and concentrates in mind. Low-dose beverages were merely an afterthought when Prop 64 passed, and the regulations and infrastructure reflect this: - Stores lack loading docks. - Distribution companies use cargo vans (how many pallets of drinks can those hold?) - Licensed THC beverage manufacturers can't produce other types of beverages. At Lolli Soda, we're focused on creating a fun, low-dose beverage experience that delivers what consumers want: affordability, accessibility, and product safety. California can and should lead in creating an inclusive, competitive cannabis beverage market. I'd love to see policymakers embrace this vision. Selfishly, I'd like nothing more than to spend 2025 serving people in my own backyard. Cannabis beverages can transform how people unwind and celebrate. I hope we can work together to make California a leader in this revolution, not just a passive bystander. #drinkcannabis #incalifornia

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These charts show the breakdown of California cannabis sales up to the end of 2023. The interesting part is the sales by Item, showing Flower remains dominant. However, sales of Vapes, Edibles and Extracts are far higher than they are in the medical market. For instance, in UK & Australia it's generally accepted Flower makes up to 80% of volume. But compare that to the 'open' market found in California. Given a free choice, 43% of consumers choose non-flower products. In fact, nearly a quarter choose vaping, presumably using 5/10 carts. Prescriptions of these alternative formats are still very low in Europe & Australia. Some forms, such as pre-rolls and extracts, are still not available to patients, although it's generally accepted pre-rolls will never be considered 'medical' (despite the fact most people will still combust Flower). This means there is still a considerable way to go for medical suppliers and plenty of opportunity for new cannabis formats.

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Expectations expectations it’s all about expectations The longer section about expectations and backstage behavior Make no assumptions about prior understanding. Lay it out, stick to it, keep working towards priorities #camnabisindustry #expert 🌱🌱🌱strive to thrive🌱🌱🌱

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Underrated perk of having an educated audience (as a c@nnabis dispensary): No one talks about this… The more informed your customers are about c@nna products, the less time they’ll spend selecting a product in your store. Most of the time, your customers take long to check out because they don’t know what they’re looking for. I’ve done it myself… When I first got my med card, I’d go up to the budtender, describe what effect I was after, and they’d come back with 4 or 5 options to choose from. Then they’d have to take the time to explain the differences between each one. Even 5 minutes spent with each customer trying to pinpoint what strain meets their needs adds up over the course of a day. The quicker you can get your customers in and out, the better. That’s why customer-focused, value-driven email strategies will continue to prevail. Here’s a quick how-to: 1️⃣ Segment customers based on preferences and usage intent 2️⃣ Create content around relevant products/topics of interest for each segment 3️⃣ Recommend relevant products You’ll speed up the in-store selection process making time for more transactions. And the best part is you’re not rushing your customers or making them feel like they’re being pushed out the door. You’re providing them with the knowledge to make informed purchasing decisions so they already know what they want when they get to your store. There's a direct correlation between well-informed customers, and satisfied customers who will be returning. P.S. The High On Marketing Evergreen Templates is a collection of 50 pre-written emails tailored for c@nnabis dispensaries to easily start incorporating more educational value into their content strategy. ➡ Fill-in-the-blank style allows for easy brand customization ➡ Content topics cover a wide range of c@nna FAQ's/pain points ➡ Designated, color-coded spots for entering links to product pages, blogs, or social media Subscribe to my free newsletter in my bio and featured section and I’ll send you a 50% off subscriber discount code (just $25 for all 50 emails). P.P.S. Happy 7/10! I hope you all got a good night's rest in preparation for today 🙌 #cannabis #emailmarketing

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🌿 Dialed Moods: New Wave Of Functional Bevvies 🌿 Excited to share our feature in Stuff Stoners Like, highlighting Dialed Moods, the latest innovation in plant-powered wellness. We’re redefining functional beverages and supplements with Kratom-infused products designed to fuel your day naturally. ✨ What’s Dialed Moods All About? Dialed Black Energy Drink: A powerful blend of White, Green, and Red Kratom with caffeine, Lion’s Mane, and cordyceps for energy, focus, and clarity. Maeng Da Strains: From uplifting Green to relaxing Red, there’s a Kratom strain for every vibe. Dialed Silver Gummies: A tasty, portable way to balance energy, focus, and calm. We’re committed to transparency, quality, and tapping into nature’s potential to help you perform at your best. As I shared in the feature, “Kratom helps people focus, be more ambitious, and push the boundaries of what is possible.” 🌱 Available Now: Dialed Moods is online and expanding into stores nationwide. Whether you need to energize, focus, or relax, we’ve got you covered. 📖 Read the full feature to learn more about how we’re redefining wellness: https://lnkd.in/g4GHgSzV #DialedMoods #FunctionalBeverages #Wellness #Kratom #StuffStonersLike #NaturalLiving

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🌿 Beantown Greentown: Turning the Tide on Opioids through Affordable Access to Cannabis 🌿 At Beantown Greentown, we’re on a mission to help individuals transition from opioids to cannabinoids safely and affordably. The Affordable Access Initiative is our first step in this journey, designed to provide affordable cannabis to veterans and low-income individuals across Massachusetts. Through this program, participants can access discounted products simply by mentioning Beantown Greentown at participating retailers. This initiative complies with the Massachusetts Cannabis Control Commission (CCC) guidelines under 935 CMR 500.000—ensuring all products are safe, legal, and responsibly marketed. 🛒 Calling All Retailers! Join our Affordable Access Initiative to increase foot traffic, support the community, and offer exclusive promotions. Every retailer that joins helps make a difference in local lives, offering a sustainable alternative to opioids and building a stronger, healthier Massachusetts. But we’re not stopping there. The next step in our mission is to collaborate with local hospitals, labs, recovery specialists, and schools to conduct science-backed studies. Through double-blind studies, we aim to demonstrate the effectiveness of cannabinoids in supporting individuals transitioning away from opioids. Dr. Sanjay Gupta’s pivotal discussions on CBD have helped shift public perception, and at Beantown Greentown & Erva Inc., we believe Boston is the ideal place to prove the benefits of cannabis as a part of the solution for communities affected by the opioid crisis. Let’s work together to help clean up Methadone Mile, one step at a time. 🌍 Join Us for a Neighborhood Cleanup! This Saturday, Nov 16th, from 10 AM to 2 PM, we’re hosting a community cleanup to help revitalize our neighborhood. All supplies will be provided, and every volunteer receives custom swag and lunch on us. Let’s come together and make a difference—no signup required, just bring your energy and passion for change! Together, let’s pave the way for a healthier, cleaner, and safer Boston. 💚 #BeantownGreentown #AffordableAccessInitiative #CannabisForChange #OpioidCrisis #BostonCommunity

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Helping us grow since the start. We are honored to welcome back BioTrack as a conference sponsor. Special mention to long time friend and CLAB educator Moe Afaneh. Their mission is to propel the cannabis industry forward through reliable technology solutions that promote transparency and accountability, and that empower governments, businesses, and consumers to make informed data-driven decisions. Established in 2010, BioTrack aims to bring cannabis out of prohibition through transparency, accountability, and scalable growth. As pioneers of seed-to-sale tracking for both business management and government oversight software, the BioTrack team has the professional experience necessary to navigate regulations and enforce compliance across any regulated landscape. BioTrack is a leading seed-to-sale inventory management and dispensary point-of-sale (POS) software designed specifically for the cannabis industry. We offer a comprehensive suite of business tools that give you everything you need to run and control your Cannabis business operation. BioTrack was the first ever cannabis point-of-sale system to integrate every vertical of the cannabis business model into one, universal traceability tool; becoming the first true seed-to-sale cannabis POS software ever made available to the industry. Track your product from growers, to processors, to dispensaries, right into your customer’s hands; all the way from seed-to-sale. BioTrack currently holds 12 government traceability contracts and is actively operating in 38 states, Puerto Rico, Jamaica, Canada, Colombia, Australia, New Zealand, Netherlands and South Africa. https://biotrack.com Help us Legalize Florida! Updated Agenda, Speakers, Sponsors and Room Rates. 7th Annual Conference - Shaping the Future of Cannabis: October 14-15, Hollywood, Florida Let us know if we can tell you more or if there is someone else who should be getting involved www.clabconference.com

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Newness launch Day at Credo Beauty 🚀 Our new Better Roots Growth Support Shampoo, Conditioner and industry-first Growth Support Styling Foam went live today at Credo. We couldn't ask for better launch partners for these products and thank you to our spectacular merchant Gabriella Ramirez and all of our other amazing friends and partners at Credo. These 3 new products bring our Better Roots range to 6 incredible breakthrough products, making Better Roots one of the most comprehensive product ranges for Scalp Care and Hair Growth Support in all of haircare and in the opinion of many, by far the most innovative. I will go as far as to say that we are helping to pioneer an entirely new category, as we prefer to describe Better Rooots as Products for Hair Longevity - at the core hair longevity is what Better Roots is really all about for us - helping people to enjoy beautiful, healthy hair throughout their entire lifetime and experience all of the joy and life enhancing benefits of having beautiful, healthy hair gives us. It's not enough to offer solutions for hair loss, we want to help prevent it in the first place - or at the very least, greatly reduce it. And this applies to graying as well. Across the 6 Better Roots products we are incorporating more than 20 of the most advanced clinically proven actives for the scalp, hair follicles and the strands they create and support. This 360 degree approach to problem solving formulation from every angle makes these products a true n of 1. Each Better Rooots formula is developed in-house and every raw material is sourced directly by us giving us true 100% visibility and control over our supply chain. In terms of Clean Beauty + Science, Better Roots is the gold standard. Nothing is left out or left to chance. From the level of naturality through end of life biodegradability, and an unrivaled level of ingredient safety across every measure. Lastly but perhaps most importantly, Better Roots incorporates the most cutting edge, clinically supported, science backed active ingredients plus a sensorial experience to match, with divine textures and 100% natural light yet gorgeous scents that elevate these products to a new dimension of product experience, efficacy and connection. If you've read this far, you must be curious to try them by now. And of course, you should. ;) Very special thanks to our amazing technology partners, without whom we could not create this incredible collection. You all truly bring the magic. Mibelle Group Evonik Actera Provital Lucas Meyer Cosmetics - by Clariant Ashland Sino Lion USA SOZIO Inolex Dow P2 Science, Inc. Colonial Chemical, Inc. Givaudan Eden Botanicals BIOLANDES Innovacos Corp. Chemyunion evident ingredients GmbH

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