Navigating Global Expansion: Strategies for Taking Your Cannabis CPG Company International

02:01 - 02:55: Jake Litke, CEO of MediaJel, and Jamie Pearson, Founder of New Holland Group, offer insights into international cannabis brand expansion. When contemplating entering new countries, they focus on the indicators that a team may be successful in an expansion, particularly at the micro-level.

Jamie highlights the need for a team with international experience and meticulous planning in the supply chain. While many brands can grow great products, cross-board expansion requires 'working backward,' which considers market placement first and production needs last. Building a team that understands cross-border expansion is emphasized over a learn-as-you-go approach, especially when dealing with complexities like different currencies, languages, and cultures on the international stage.

17:14 - 18:32: In this segment, MediaJel and Jeremy Johnson revisit the significance of first-party data, particularly concerning self-hosted menus, as Jeremy highlights a critical distinction between self-hosted menus and third-party platforms like Weedmaps or Leafly. He underscores that using third-party platforms can limit retailers' access to data, while these providers gain valuable insights into customer spending habits and brand preferences. Jeremy emphasizes the industry-wide value of first-party data, highlighting its role in helping retailers understand customer behaviors and preferences. Taking ownership of and analyzing this data offers countless opportunities for improvement, underscoring the importance of retailers having control over their first-party data to harness its full potential.

22:04 - 26:28: Jake Litke and Jamie Pearson recognize the unique challenges and opportunities within the European cannabis market. In Europe's diverse markets, a one-size-fits-all approach will only be effective if the brand can achieve universal appeal. The brand matters far less in pharmaceutical markets like Germany because they must dispense cannabis products via pharmacies rather than retail.

Jamie explains that, at the pharmaceutical level, ingredient consistency and formula replication are the most critical factors for production. To enter the market, brands must attain EU GMP or Swiss pharmaceutical certifications for cannabinoid production. She adds that American brands entering the European market may gain a strategic advantage in the states once federal legalization passes. By obtaining fingerprinted protection on proprietary strains, US companies will have a leg up in the race to patent genetic footprints.