Canada’s retail-focused cannabis company High Tide Inc. (TSXV:HITI) (NASDAQ:HITI) (FSE: 2LYA) confirmed Wednesday that it is transitioning all of its cannabis retail stores to an innovative cannabis discount club concept that will offer benefits and lower prices for its Cabana Club loyalty members.
Starting Wednesday, all of High Tide’s retail cannabis stores will begin offering steep club discounts on cannabis products in addition to existing member-only discounts on consumption accessories, as well as other exclusive benefits for 245,000+ Cabana Club members.
Members will also be given the exclusive ability to purchase items from High Tide’s catalog of proprietary consumption accessories, only available in Canada.
“I am thrilled that with today’s announcement, High Tide becomes the first of its kind, and the largest, cannabis discount club retailer in North America,” Raj Grover, president and CEO of High Tide stated. “While other retailers have made moves to service the value segment, our strategy sets us apart as the only retailer in Canada which will have a discount club loyalty plan. Today’s news represents an acceleration of our value-focused strategy, which was initially planned to be rolled out under the Cannabis Chop Club brand in select locations only.”
High Tide plans to initially roll out this retail concept across Canadian provinces where it currently operates retail cannabis shops, as well as in British Columbia, where it anticipates launching its first store in the near future.
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High Tide’s shares were trading 0.16% higher