AROYA Office Hours Episode Ten (2/10): Four Insights About Our Changing Canna Landscape
Discover your potential to grow and scale when you can utilize and understand the right data. We don't make it any secret around here. Data is powerful.
It's at our roots, and what helps us make our biggest decisions as a business. So to say that the team was excited to have CEO and Co-founder of Headset.io Cy Scott (he also co-founded Leafly!) as our Special Guest on our latest session of Office Hours LIVE is a massive understatement.
His wisdom about the trends happening in the cannabis industry, across the United States and Canada, was eye-opening. And every point was backed up by years of historical industry data. We love to see it!
Read on for some of the highlights and the full video from AROYA Office Hours Episode Ten. And to deep-dive into Cy's data, download the presentation here.
1. Understand your market, and grow to market to them.
“It's really important to be mindful of who you want to attract—this audience—as a brand and as an organization. If you can find the products and the strains or whatever you're producing that resonates with that audience, you're going to create a lot of sales.” – Cy Scott of Headset
2. Utilizing years of industry data is critical.
“We like to think about ourselves as providing this roadmap to ultimately succeed in a complex vertical. It's changing so fast. There's so many dynamics happening. There's new brands coming to market, new legislative changes, new strains that are trending, pricing challenges that happen and just to kind of really understand what's going on. Ultimately, it’s critical to out-compete in this space.” – Cy Scott
3. See where you stand in terms of pricing and competition.
“It is good to know if you are producing and selling at retail—what are you up against? Who are you competing against and how does pricing play into that? I think prices are a big part of the conversation … ” – Cy Scott
4. Get the full picture then guide your operations toward the right opportunities.
“These are big numbers and these are good; it's good to just kind of understand the total market opportunity that you have if you capture the whole market, and some markets are certainly growing faster than others.” – Cy Scott