“If you're getting into cannabis now as a brand or a retailer, what are you here for? You're either here because you have an exit strategy and you want to become the biggest or the most respected with the best product line, or the best customer service or the best real estate locations, so that when big money comes in from mainstream CPG, you're the company they want to acquire and you get to walk away. The other piece is you're looking to be a product that they want to onboard into their portfolio, and you're looking to be that standout brand or that standout retailer that is craft, like we've seen with beer. You'll have your niche and your footprint in a specific state or region or with a specific type of consumer.”
-Wendy Campbell, VP of Sales, MJ Unpacked
The finer details of this episode:
●Potential for cannabis to become a consumer packaged goods (CPG) market
●Changing consumer behavior and preferences in the cannabis industry
●Importance of regulation, education, and destigmatization in the cannabis industry
●Role of technology and data in understanding consumer needs
●The future of cannabis marketing and sales
●Tips for successful engagement for those attending MJ Unpacked
Timestamps:
The welcome to the Cannabis Success Show (00:00:00)
Introduction to the podcast and its focus on cannabis business growth and industry insights.
Welcoming Wendy Campbell (00:00:25)
Introducing Wendy Campbell, Sales Director for MJ Unpacked, and expressing excitement about having her on the show.
Wendy's background and journey to the cannabis world (00:01:20)
Wendy Campbell shares her transition from the corporate world to the cannabis industry, including her experiences and initial hesitations.
Evolution of the cannabis market toward a CPG industry (00:03:55)
Wendy discusses the evolution of the cannabis market, the transition to consumer packaged goods (CPG), and her role in the industry.
Definition of CPG market and cannabis maturing (00:08:01)
Defining the consumer packaged goods (CPG) market and discussing the maturation of the cannabis industry toward a CPG model.
Consumer behavior and preferences in the cannabis industry (00:16:14)
Exploring potential shifts in consumer behavior, preferences, and the potential influx of new cannabis consumers in the future.
Personal journey and understanding cannabis as wellness (00:20:43)
Wendy Campbell shares her personal journey in understanding cannabis as a wellness product and the gradual realization of its medicinal benefits.
Impact of education and access on consumer experience (00:24:03)
Discussing the importance of education, access, and positive consumer experiences in shaping perceptions and usage of cannabis products.
Education and Consumer Awareness (00:25:24)
Discussion on the ongoing need for consumer education and awareness in the cannabis industry.
Brands Connecting with Consumers (00:26:21)
Exploring the challenges brands face in connecting with consumers and receiving feedback at the retail level.
MJ Unpacked's Unique Value Proposition (00:29:30)
Description of MJ Unpacked's unique conference and its focus on bringing together key players in the cannabis industry.
Maximizing Conference Participation (00:33:44)
Strategies for attendees to maximize their experience and connections at MJ Unpacked.
MJ Unpacked Event Details (00:39:06)
Details about the upcoming MJ Unpacked event, including registration information and qualification process.
Industry Outlook for 2024 (00:40:44)
Discussion on the potential developments and hopes for the cannabis industry's future in 2024.
Episode resources:
●Book a free consultation with Guillermo: https://anderscpa.com/virtual-cfo-cannabis/
●If you’d like to be a guest on the show: rraynor@anderscpa.com
