LVVV - Consumers Are Demanding More From Cannabis Companies — Here’s What Some Are Looking For
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The cannabis industryhas undergone drastic changes in recent years, and as marijuanabecomes more mainstream, consumers are demanding more from cannabiscompanies. No longer are the days when consumers will settle for aplastic zip lock bag of questionable quality and purity undergroundweed — they want choices that reflect their lifestyle and values.
Many consumers report that they wanta high-quality lifestyle brand and one of the things they are lookingfor is an organic, hand-cut, pesticide-free, and easy-to-consumecannabis product. Companies that embody these values will be betterpositioned to become the go-to products for more consumers.
Why Do Consumers Want Lifestyle Brands?
A growing percentage ofconsumers care more about the quality and sustainability of the brandsthey engage with. In a recent survey by Stifeland Morning Consult , more than half of the survey’srespondents shared they had bought from a new brand specifically forits transparent, environmentally responsive, and sustainable practice.
When it comes tothe cannabis industry, there is a preference for hand-trimmed andhand-grown cannabis. Colloquially known as craftcannabis , companies willing to prioritize hand-trimmedcannabis grown without pesticides and machines will have an easiertask of creating high-end products that consumers flock to.
Cannabis companies wouldbe wise to look to the lifestyle brand journey of other consumerpackaged goods (CPG). Researcherssee lots of comparisons between the growth of lifestyle brandsin high-end coffee companies and the cannabis industry. Similarly tohow high-end coffee consumers are more loyal to brands that boostsustainable heritage, product origins, ethical sourcing, and roasts, agrowing number of cannabis consumers are following suit. California isin the process of implementing a product origin program similar to theCalifornia wine industry for cannabis.
Companies that can leverage a consumer-centric approach to thecannabis industry might find success in the coming years as luxurycannabis becomes more available and accessible to the public.
What Companies Are Doing It Right?
LiveWire ErgogenicsInc. (OTCMKTS: LVVV) (“LiveWire”) is a company that focuses onacquiring and managing special-purpose real estate properties thatqualify for the discovery and development of high-end organic cannabisproducts. Because of this focus on selecting compliant real estate,LiveWire can hone in on projects that allow for high-end cultivationand set the Company apart from the competition, especially from massproducers of low-quality products.
In order to operate economically, LiveWire hasdeveloped its Estrella Ranch as the central hub for all LiveWire andsubsidiary operations. The Estrella Ranch’s location is ideal forcultivating a high-end organic-style product in a micro-climate thatcan allow for all-year-round production. Its tractor-less operation isfocused on producing high-quality, hand-crafted outdoor products.
Additionally, the property’sultimate goal is to be the world’s first Estate Grown Weedery, anultimate cannabis destination. This goal aligns well with theCompany’s health and wellness lifestyle value. Consumers want anexperience from their lifestyle brand of choice, and LiveWire seems tobe an example of a company positioning itself well todeliver.
The Company focuses on acquiring, managing, andlicensing well-qualified cannabis real estate locations to establishfully compliant and permitted facilities to produce cannabis-basedproducts and establish relationships for the statewide distribution ofthese products in California. This includes developing and licensinghigh-quality organic cannabinoid-based products and services andcreating the high-quality "Estrella Grown Weedery™" brandvia its subsidiary/affiliate companies Estrella Ranch Partners,Estrella River Farms, Makana Ola, and CaliCruz Farms. LiveWireErgogenics does not produce, sell, or distribute products that violatethe United States Controlled Substances Act.
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