High Tide Inc. (“High Tide” or the “Company”) (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that its subsidiary, Blessed CBD, has launched a CBD Subscribe-and-Save program in the United Kingdom called the Wellness Club. Under the Wellness Club program, members will be able to customize their orders each month with items from across Blessed CBD’s product lines, including oils, gummies, capsules, and topicals. Members will also be able to customize their own delivery schedules within a range of every two weeks to every twelve weeks, allowing delivery frequencies to optimally match each member’s needs. In addition, by joining the Wellness Club, members will receive a 20% discount on their first purchase and a 25% discount thereafter for life on all Blessed CBD products, meaning that members will be able to access the steepest discounts that Blessed CBD has ever offered. Members will further be eligible to participate in exclusive monthly raffles where the winners will receive free CBD products.
In addition to improving convenience and savings for members, the launch of the Wellness Club will further solidify customer loyalty and brand equity for Blessed in the U.K. Because Wellness Club members will be enrolled in a service that auto-renews their orders, Blessed CBD expects to boost its lifetime value per customer beyond current levels. The Wellness Club will also allow Blessed CBD to grow a recurring revenue stream that will be much more predictable than the current system of customers being required to manually place their orders. Although the Wellness Club will initially only be available in the United Kingdom, Blessed CBD intends to expand the program into Germany in the future.
“The launch of Blessed CBD’s Wellness Club, as well as NuLeaf Naturals’ revamped Subscribe-and-Save program, are further examples of the cross-platform synergies that High Tide has been able to develop as a result of our forward-thinking acquisition strategy. Over the past year, we have acquired businesses that are well-positioned to cultivate recurring and predictable revenue streams through the innovative use of value-based loyalty and subscription programs,” said Raj Grover, President and Chief Executive Officer of High Tide. “As we continue to build upon our diversified cannabis ecosystem, I expect that we will be able to drive further revenue growth with minimal capital cost by leveraging our organic innovations and applying them across our various platforms. Today’s announcement also further demonstrates our commitment to expanding our presence, customer bases, and revenues through legal activities in markets such as the U.K. and the U.S., where full cannabis legalization has not yet come to pass. We look forward to launching additional organic innovations across our portfolio,” added Mr. Grover.
NULEAF NATURALS LAUNCHES REVAMPED SUBSCRIBE-AND-SAVE PROGRAM
The Company also announced today that its United States-based subsidiary, NuLeaf Naturals, has launched a revamped Subscribe-and-Save program, based on the success of the similarly-named and designed subscription program launched by fellow U.S. Subsidiary, FAB CBD, in March of 2022. Under this program, customers will be able to customize their orders each month to suit their specific needs, with items from across all NuLeaf Naturals product lines including oils, softgels, topicals, and pet treats. Customers will also have the ability to customize their delivery frequency for each individual product in their order, allowing delivery frequencies to optimally match each customer’s needs for every product. In addition, by opting-in to the Subscribe-and-Save discount program, customers will receive a 20% discount for life on all NuLeaf Naturals products that they purchase, similar to what is offered by FAB CBD in the U.S. market currently.
