Absolutely. As discussed previously, our ability to control the consumer purchasing experience through our vertical integration allows us to own the message and educate consumers across every touchpoint. As far as the actual in-store environment, the retail space is sophisticated yet approachable and allows consumers to feel like they’re browsing through a modern record shop. They’ll be greeted by well trained store staff who will offer guidance or allow them to browse on their own by looking through the stacks of “records” or on digital tablets. Specific regulations vary from province to province but for the most part, all product must be kept under lock and key so, we felt there was a need to provide consumers with a tactile experience by providing them with something they can pick up and have in their hands before buying and that is compliant with all regulations. This is where the record covers come into play. Each one contains information about the product. The front cover displays the primary and secondary details related to the product / strain and the back cover has the product’s effect, user experience, and other relevant information. When the consumer is ready to buy their product of choice, they simply take the record to the point of purchase and the staff will unlock their item for them. The store concept also includes a feature wall which has a “Top Hits” section which consists of new or popular products to try out. From every angle – the store offers engaging elements which will stimulate, educate and inspire cannabis users.
Now for an elephant in the room question. Because of other industries and an effective price cap on the retail price of cannabis (due in part to black market, government suasion, etc.), there is that stigma about retail. Your financials are not out as yet and regardless revenue from sales is only recent... so what do you say to your existing stakeholders of all stripes as well as potential shareholders who are skeptical about the success of the retail model in this space?
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