MJBizMag November-December 2020 - 82

THRIVE
SURVIVE
CannaCraft partnered with
Lagunitas Brewing to create
California THC beverage sales
leader Hi-Fi Hops. Courtesy Photo
CRAFT STRATEGIES
D
espite leading California's
marijuana market in the vape and
beverage categories-and being
among the top 10 sellers of topicals,
according to Headset-CannaCraft is
reluctant to paint too rosy of a picture.
" It's certainly not been a hockey stick
or a huge increase in growth. We are
seeing good, steady growth as we go
forward, " CEO Jim Hourigan said of the
company, which was founded in 2014.
" We feel confident about our business,
but not over our skis. "
The caution isn't surprising, given that
CannaCraft laid off roughly 15% of its
workforce in late 2019 and more staff
in March. The company also has had to
compete with counterfeiters usurping its
name and stealing sales.
So how did CannaCraft bounce back
to become a market leader?
* Data-driven consumer and
market analyses.
* Bundling products to give greater
value to consumers while not overly
compromising on margins.
82 Marijuana Business Magazine | November-December 2020
Sales forecasting and offering items in bulk help cannabis manufacturer
stay on top of inventory By Omar Sacirbey
* A willingness to continue investing
in major initiatives.
Forecasting Can
Fine-Tune Your Sales
and Marketing Strategies
Sales forecasting represents a key strategy
for CannaCraft.
" Every month, we're re-forecasting
our business, trying to best understand
where the markets are going to be.
We can then plan our production and
distribution accordingly, " Hourigan said.
COMPANY: CannaCraft | LOCATION: Santa Rosa, California | SECTOR: Manufacturing and cultivation
AND

MJBizMag November-December 2020

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