Calgary, AB--High Tide Inc. announced in a press release that its subsidiary, Blessed CBD, has launched a CBD Subscribe-and-Save program in the United Kingdom called the Wellness Club.
[Image source: High Tide]
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.
The Wellness Club is expected to 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," said Raj Grover, President and Chief Executive Officer of High Tide, in the press release. "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 program.
"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."
Read more in the original press release.