Members will also be given the exclusive ability to purchase items from High Tide's catalogue of proprietary consumption accessories, which will only be available in Canada through High Tide's retail brands, with wholesale sales of proprietary consumption accessories being discontinued in Canada in order to focus on providing value and exclusive high-quality products to Cabana Club members.
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Starting today, all of High Tide's retail cannabis stores will begin to offer steep club discounts on cannabis products in addition to existing member-only discounts on consumption accessories, as well as other exclusive benefits for members of the Cabana Club, which will remain free to join over the short-term. Regulatory environment permitting, the Company may explore the potential to introduce a membership fee for the Cabana Club, and provide annual profit share/cashback or other perks to members.
Same-store sales and customer loyalty are projected to continue their upward trajectory in the coming weeks and months based on the results from two successful pilot projects which the Company undertook beginning in mid-April, that involved reduced margins on consumption accessories and THC products. As regulations evolve, the Company also plans to explore the potential to launch subscription boxes for Cabana Club members, featuring brands and products from High Tide's portfolio companies. 2Ĭabana Club members will gain exclusive access to everyday low prices, member deals, and high-quality proprietary consumption accessories and brands. 1 With over 70% of Canadian cannabis consumers being especially price-sensitive, this announcement positions High Tide to gain market share by converting legacy customers into Cabana Club members. High Tide's mature ecosystem of in-house brands and products perfectly positions the Company to become an exclusive cannabis discount club retailer and to eventually grow its Cabana Club loyalty plan into a global, membership-based cannabis community.Īpproximately 40% of Canadian cannabis sales are still conducted through the illicit market. This accelerates High Tide's previously-announced entry into the value segment, and positions the Company as the largest cannabis value retailer overnight. Starting today, all Canna Cabana retail cannabis stores will transition to a discount club concept with exclusive benefits targeted to Cabana Club members.