Brand loyalty is a major topic in any industry today and particularly in the cannabis industry. However, brand loyalty can be a tricky concept. What exactly does it mean? How is it achieved or measured? And what are the tangible effects of strong brand loyalty? I’d like to offer some insight into this last question because of how large the potential revenue is for brands with loyal followings.
My firm, Brightfield Group, researches the top brands in the cannabis industry and why consumers select them. What we found in our recent survey of medical cardholders was that brand loyalty is a significant driver in purchasing decisions.
Patrick Hayden, Brightfield Group
Using the edibles market as an example, we found that 73% of consumers have a favorite brand. Once they find it, they’re extremely loyal, with 60% of these consumers choosing that brand at least 75% of the time.
Read Patrick Hayden’s article: https://thecannabisindustry.org/guest-post-potential-brand-loyalty/
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