Empowering the Cannabis Industry
Empowering the cannabis industry means addressing the inherent challenges in bringing cannabis products to market. They include:
promoting operational efficiencies such that cannabis companies can reduce costs in order to increase margin and profitability of the products they sell,
providing solutions that align to regulatory requirements in an efficient manner,
allowing brands to communicate with their customers and target audience in a highly restricted communication environment, and
giving consumers confidence in the products they purchase in a trustworthy and transparent manner.
Lucid Green is committed to empowering the cannabis industry and optimizing cannabis experiences for all. You can click through the link to learn how Lucid Green optimizes cannabis experiences for brands, distributors, retailers, and consumers. In this article, let’s focus on what it means to empower the cannabis industry.Let's highlight some of the challenges for cannabis brands and the industry as a whole.
Manual Purchasing and Inventory Processing
In a number of growing cannabis companies, purchasing and inventory are still done on an ad-hoc basis. Many cannabis businesses conduct inventory management and procurement using fax, emails, and spreadsheets. This means there are significant opportunities for operational efficiencies and cost savings.LucidIDs (shown below) and LucidSource (the data asset management platform for LucidIDs) automate purchasing, distribution tracking, inventory management, and retailer POS (point of sale) integration.If you want to learn exactly how Lucid Green enables your business to accomplish this, please see “The Future of Cannabis Supply Chain and Inventory Management.”Empowering the cannabis industry means driving cost savings such that businesses see greater margins and profitability.
Advertising Restrictions
“According to [a recent] ... report, 91% of executives said advertising restrictions placed on cannabis and cannabis-related brands is a problem ...” (Source) Lucid Green solves this problem by giving brands the ability to communicate directly with their existing or potential customers via mobile notification or at dispensaries. (Teaser - we are about to announce LucidConnect - a new set of marketing services that delivers an always-on audience development platform for cannabis brands. LucidConnect provides brands with consumer data to continuously grow and activate their audiences through omni-channel media that drives awareness, engagement, and loyalty.)Empowering the cannabis industry means giving brands a platform and service that allows them to market to their target audiences.
Consumer Education and Budtender Product Knowledge about Cannabis
“A lack of consumer education about cannabis is a problem that is likely to continue to grow as more states loosen cannabis laws and new consumers enter the marketplace. Today, 93% of executives believe a lack of education among consumers is a … problem.” (Source) “Just as consumers lack education, so do the budtenders who often take the lead in referring consumers to cannabis products.” (Source) Having LucidIDs on cannabis packaging gives consumers and budtenders all the information they need regarding each product. Simply scanning a LucidID allows a person to see vital information which includes an independent lab study documenting the ingredients and safety of the product, dosage recommendations, reviews, and much more.See the Lucid Green App for more information. Google PlayApple App StoreEmpowering the cannabis industry means education such that budtenders have the tools to help their customers, and customers have information at their fingertips that provide an optimal cannabis experience as well as trust and transparency in the products they purchase.These are just a few ways that Lucid Green is committed to empowering the cannabis industry. We remain committed to optimizing cannabis experiences for all and the vehicle to accomplish this is the adoption of LucidIDs as the standardized UPC in the cannabis industry.
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