Navigating Global Expansion: Strategies for Taking Your Cannabis CPG Company International
International Strategic Management Consultant/ New Holland Group
Are You Ready for Cannabis CPG International Expansion?
The worldwide cannabis market achieved a valuation of USD 28.06 billion in 2021 and is forecasted to reach an impressive market size of USD 197.75 billion by 2028. Are you prepared to take your cannabis consumer packaged good (CPG) company to the international stage?
Join Us for an Insightful Webinar on Cannabis Global Expansion
We invite you to a 60-minute webinar with Jamie Pearson, International Strategic Management Consultant at the New Holland Group, where we’ll delve into the essential international expansion strategies for successfully growing your cannabis CPG business in different countries. From market research and localization to distribution and marketing, we’ll guide you through the key considerations that will empower you to conquer new markets with confidence.
Who Should Attend?
Whether you’re a seasoned entrepreneur or just beginning to explore international cannabis business expansion opportunities, this webinar will provide you with actionable insights to drive your global expansion forward.
During the webinar, you will:
- Develop a Comprehensive Business Plan: Learn how to set clear goals and milestones for international expansion.
- Tailor Your Products: Understand how to adapt your cannabis products to meet local preferences, cultural idiosyncrasies, and local regulations.
- Navigate Cannabis Regulations: Get insights into local cannabis and CBD regulations, import/export requirements, and compliance.
- Build a Global Team: Discover how to assemble and manage a team that can execute your international expansion strategies effectively.
Your journey to international success starts here.
Consider This When Planning A Global Expansion
00:02:01 – 00:02:55: Jake Litke, CEO of MediaJel, and Jamie Pearson, Founder of New Holland Group, offer insights into international cannabis brand expansion. When contemplating entering new countries, they focus on the indicators that a team may be successful in an expansion, particularly at the micro-level.
Jamie highlights the need for a team with international experience and meticulous planning in the supply chain. While many brands can grow great products, cross-board expansion requires ‘working backward,’ which considers market placement first and production needs last. Building a team that understands cross-border expansion is emphasized over a learn-as-you-go approach, especially when dealing with complexities like different currencies, languages, and cultures on the international stage.
Identify Where Your Cannabis Brand Should Start Expanding
00:17:14 – 00:18:32: In this segment, MediaJel and Jeremy Johnson revisit the significance of first-party data, particularly concerning self-hosted menus, as Jeremy highlights a critical distinction between self-hosted menus and third-party platforms like Weedmaps or Leafly. He underscores that using third-party platforms can limit retailers’ access to data, while these providers gain valuable insights into customer spending habits and brand preferences. Jeremy emphasizes the industry-wide value of first-party data, highlighting its role in helping retailers understand customer behaviors and preferences. Taking ownership of and analyzing this data offers countless opportunities for improvement, underscoring the importance of retailers having control over their first-party data to harness its full potential.
The Pros and Cons for American Brands Expanding into Europe
00:22:04 – 00:26:28: Jake Litke and Jamie Pearson recognize the unique challenges and opportunities within the European cannabis market. In Europe’s diverse markets, a one-size-fits-all approach will only be effective if the brand can achieve universal appeal. The brand matters far less in pharmaceutical markets like Germany because they must dispense cannabis products via pharmacies rather than retail.
Jamie explains that, at the pharmaceutical level, ingredient consistency and formula replication are the most critical factors for production. To enter the market, brands must attain EU GMP or Swiss pharmaceutical certifications for cannabinoid production. She adds that American brands entering the European market may gain a strategic advantage in the states once federal legalization passes. By obtaining fingerprinted protection on proprietary strains, US companies will have a leg up in the race to patent genetic footprints.