Bubbles and a Buzz: The Business of Cannabis Beverages

Can you think of a time you went out on the town and didn’t have a drink in your hand? With the rise in popularity of non-alcoholic beverages and bars, cannabis drinks are poised to shake up the beverage landscape.

Cannabis bev companies have made leaps and bounds in the past few years using nano-emulsification technology to create more consistent dosing and better tasting, fast-acting products.

Non-combustible products will pave the way for newcomers and offer a more socially acceptable way to enjoy the benefits of our favorite plant. After all, it is the fastest growing product segment. (BDSA noted that cannabis beverages had 64% growth last year and 27% growth quarter over quarter.)

But with only 1% of consumers claiming cannabis drinks as their preferred method of consumption, there is no doubt this product segment has a long yet promising road ahead.

This week we are joined by Ave Miller, Co-Founder of Uncle Arnies, and Rodney Boast, Co-Owner and COO of Ray’s Lemonade, to give the lay of the beverage land and discuss the hurdles this product segment has yet to overcome, how retailers can better support brands, and how startups will hold their ground against big beverage giants. So join us and get an insider view of what it takes to build a cannabis beverage brand and the loyal customer base required to drive revenue.

During the webinar, you will learn about:

Low dose vs. high dose – what will be successful long term
Shifting buyer mindsets and consumer education programs
Why retailers should end the “gas station model” and shift to an authentic retail experience
Raising $ in the current economic climate

Gain more insight into the trajectory of the cannabis beverage market and save your free webinar spot!

Speakers

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Webinar Highlights

Overcoming The Storage and Inventory Challenges for Cannabis Beverages

10:10 - 13:09: Jake Litke, CEO of MediaJel, and Ave Miller, Co-Founder of Uncle Arnies, discuss the challenges that cannabis beverage companies face, particularly related to storage and distribution. They review the impact of consumers' buying habits and physical space limitations on cannabis product distribution. Ave Miller explains how, over the years, dispensaries have evolved to accommodate more space for products like beverages. Initially, distributors were reluctant to handle beverages due to their weight and storage requirements, but now that the market has matured, distributors are more interested in working with beverage companies. Ave also shares insights into sales trends, with consumers purchasing beverages regularly and dispensaries ordering larger quantities. He emphasizes the importance of finding the right distributor and maintaining adequate inventory to meet consumer demand.

The Significance of Building Trust Between Founders, Dispensaries, and Distributors

02:33 - 06:31: When entering new states, Ave Miller, Co-Founder of Uncle Arnies, and Rodney Boast, Co-Owner & CEO of Ray’s Lemonade, believe in the importance of establishing a physical presence and personal interaction with dispensaries. They aim to build trust with buyers and retailers through in-person meetings, quality products, and reliable service. They highlight the significance of identifying reliable distribution partners who have strong industry relationships and are committed to delivering a high standard of service. In the dynamic cannabis market, partnering with individuals and companies that share your vision for growth and success in new territories is crucial.

Marketing Strategies for Cannabis Beverages

34:02 - 36:35: Ave Miller focuses on marketing strategies for cannabis beverages. He explores the potential to position these beverages as substitutes for traditional alcoholic drinks using familiar social imagery. However, they face new challenges in educating existing cannabis consumers about this new category. He discusses tactics like text messages, partnerships with dispensaries, and social media campaigns that encourage consumers to try cannabis beverages.

Additionally, there's an emphasis on educating consumers about dosage and consumption methods, particularly low-dosing, through marketing channels like Instagram. In summary, the conversation revolves around dual marketing strategies: broad appeal as an alcohol alternative and educating existing cannabis consumers on the benefits and usage of cannabis beverages.