The owner of a chain of cannabis stores across Canada is launching a new consumer-facing digital magazine.
High Tide, the owner of the Canna Cabana chain of retail stores, is launching Cabanalytics Consumer Insights, which they say will be an extension of their Cabanalytics “business data and insights platform”.
Canna Cabana currently has 156 locations across Canada, making High Tide the largest retailer in the country.
Beginning September 14, and continuing monthly, the company says in a press release that over 1.1 million ELITE and Cabana Club members will receive the free digital publication, covering topics such as the best-selling cannabis products and accessories and reports on consumer behaviour.
Over time, the company plans to expand their distribution into other markets like 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,” said Raj Grover, President and CEO of High Tide in a press release while acknowledging the program’s success is subject to provincial and federal regulations. “Today, I’m thrilled to announce the launch of Cabanalytics Consumer Insights, an extension of our highly successful Cabanalytics business data and insights platform.”
Grover adds that the company aims to monetize the platform by utilizing a captive audience of consumers, and he hopes to expand its coverage to include topics such as data on hydroponics, cannabis seeds, and growing equipment.
High Tide’s third-quarter results will be published on September 14. Cabanalytics data sales were $6.4 million in the second fiscal quarter of 2023, compared to $5.1 million for the same quarter last year and $6.6 million in the first fiscal quarter of 2023. Gross profits in Q2 2023 for High Tide were $31.6 million.