March 21 2022,

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THE BIG IDEA

Hi all,

Today in the newsletter there’s no product news section. That’s because we seem to be officially in the pre-4/20 launch lull. Instead we’ve got some tips on how to best manage the high holiday for your brand.

Plus, the New Jersey market could open very soon.

Enjoy,

Alex

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Is Your Cannabis Company Reaching its Potential?

Resources and insights for cannabis companies looking to accelerate growth, increase awareness, or secure investment.

Read More

HOW TO NAIL 4/20

4/20

AdWeek‘s T.L. Stanley talked to marketing tech firm Surfside about how to maximize 4/20 sales.

A few points of note:

  • Overall, the industry can expect to see sales of 130% over a typical April day, but the 4/20 consumer tends to skew older and male with consumers aged 35-49 splurging on top shelf product. 
  • “It’s [also] a good time to draw new bodies into the store,” Surfside co-founder Michael Blanche said. “Bring in those fringe customers and get more people thinking about 4/20 as a holiday they want to be involved in.”
  • Surfside also recommends skipping Easter promotions. It tends to be a bad sales day. And this year it falls just days before 4/20.

Read the whole story.

Also in AdWeek:

NEW JERSEY REC: READY OR NOT

Within weeks, New Jersey could open a major new east coast REC market, one expected to top $2B after a few years.  
MJBiz

  • The market, home to almost 9M people, could open with as few as five REC dispensaries, all of them existing MED operators.
  • “It’s almost naive to think we aren’t going to run into some issues,” said Rob DiPisa, co-chair of the cannabis law practice at Cole Schotz in New Jersey.

Like several other states, New Jersey also seeks to support equity entrepreneurs. There are questions about whether opening the market sooner will support that goal.
New Jersey Monitor

Meanwhile Gov. Phil Murphy could allow independent pharmacies to sell MED.
NJ.com

  • At present, the state has 23 open shops. 

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