We appreciate Ben Larson and AnnaRae Grabstein for having our CEO Rick Bashkoff on the High Spirits Podcast for a deep dive into East Coast cannabis markets, examining how data is reshaping operations in New York, New Jersey, and beyond as these emerging marketplaces evolve.

The best takeaway from the episode? Rick’s advice for cannabis operators:

“F*** the noise.” One of Rick’s mentors taught him this phrase when he was working for him at Warner Music early in his career. It means only focus on the things that are important. Everything else is just noise. For cannabis operators, it means focusing on the fundamentals of YOUR business and YOUR business only. Everything else is just noise.

Some of the discussions covered in this episode include:

1. Data accuracy in cannabis typically ranges from 70-90% with most platforms using similar methodology to predict market trends
2. New York’s cannabis retail scene faces challenges with rampant illicit stores that mimic legal dispensaries and confuse customers
3. Top-performing stores in Maryland and New Jersey generate over $1 million monthly, while New York averages $600,000-$700,000 in its top quartile
4. Store density significantly impacts performance, with
5. Long Island’s limited competition allowing dispensaries to reach multi-million dollar monthly revenues
6. New York-born brands dominate their local market while New Jersey shows more receptiveness to established national brands
7. Regional preferences exist across form factors, with urban areas favoring vapes and edibles while rural regions prefer traditional flower
8. Product movement tracking through alerts and notifications helps brands identify when retailers are running low on inventory
9. Challenges with indoor growing capacity in New York creates quality limitations compared to West Coast markets
10. Successful brands from other states like Miss Grass, Fernway, and Clade9 have rapidly gained market share when entering New Jersey
11. Focus on operational fundamentals and customer needs rather than industry noise is essential for sustainable success

For more on this episode:

Listen on Spotify
Listen on Apple Podcasts
Watch on YouTube

Visit the High Spirits website www.highspirits.media and listen to all of their past shows.

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