December 13, 2019
With a "sober-curious movement" underway, the availability of lower-dose beverages, and the innovations of new formats that may be more comfortable for new users, Acreage Holdings' Chief Product and Innovation Officer Heather Boyd is confident more new customers will turn to cannabis.
In an effort to get new customers to give its products a try, Boyd said the company is "innovating in spaces with fast-acting technologies; with formats that new consumers are comfortable with, in their everyday lives, like edibles, like tablets, and also medicinal formats."
Boyd said her company is building out its brands "not only to set up the market as it stands today but start to accelerate recruitment."
"We actually believe there's an incredible unlock ahead of us with beverages," Boyd told Cheddar from MJBizCon in Las Vegas.
However, she acknowledged that it will take a shift in behavior and additional infrastructure support by dispensaries to help them meet their goals.
She said the company wants to shift behavior by "unlock[ing] lower-dose beverages [to] make it a social occasion. Especially with (outside of cannabis) a lot of the 'sober curious' movement going on and switching to more healthy options, it's a really exciting place to be," she said.
American cannabis chain Acreage Holdings is expected to be acquired by Canadian producer Canopy Growth, a partnership Boyd said is "incredibly exciting." But the deal can't be finalized until the U.S. legalizes marijuana at a federal level — which, so far, is not on the table.
"Right now with the regulations across states and how you can present your brand, it creates a challenge to really drive the consistency and deliver on the product promises that are consistent across every market," she said.