High Tide, a Canadian-based retail-focused cannabis company with brick-and-mortar and global e-commerce assets, has monetized its membership-based loyalty program at its Canna Cabana retail locations, launching “Cabana Elite.”
High Tide operates in the Canadian cannabis retail market through its flagship retail brand, Canna Cabana, which has over 140 locations across five provinces. The company has become known for its discount club retail model, modeled after wholesaler Costco’s membership-based program.
Cannabis Business Times spoke with Raj Grover, founder, president and CEO of High Tide, in early November to discuss the company’s differentiated retail approach and how it has contributed to its success.
RELATED: How High Tide Became the ‘Costco of Cannabis’
The Cabana Club loyalty program launched last October and has over 860,000 members, who account for 90% of the daily transactions at Canna Cabana retail stores. Essentially, loyalty members have access to a member price, versus a market price, at Canna Cabana dispensary locations and online. The member and market prices typically vary within a $10 range.
Now, the company has taken its membership program further, launching Cabana Elite, a paid membership for consumers priced at $5 per month.
“I am delighted to finally announce the launch of ELITE, the next evolution in our innovative discount club model and a huge milestone for High Tide,” Grover said. “By leveraging the strengths of our diversified cannabis ecosystem, we are providing additional value to ELITE members by offering discounts on High Tide’s global online consumption accessories platforms.”
Similar to the non-paid Cabana Club loyalty program, Cabana Elite members will have access to member prices and several other incentives, including giveaways, limited edition branded accessories, flash sales, birthday bags, exclusive discounts and more, according to a press release.
“We see this as a big step towards building our loyalty program into a global cannabis community as we continue to convert price-conscious consumers from the illicit market into our legal cannabis ecosystem,” Grover said.
