While 2022 has been a challenging year for the cannabis industry, one company has grown exponentially despite market challenges.
Founded in 2009 and headquartered in Alberta, Canada, High Tide operates as a retail-focused cannabis company with brick-and-mortar and global e-commerce assets.
The company is a lead player in the Canadian cannabis retail market through its flagship retail brand, Canna Cabana—which has 141 locations across Ontario, Alberta, British Columbia, Manitoba and Saskatchewan. High Tide also serves the U.S. and Europe through consumption accessories and CBD-focused e-commerce platforms.
High Tide has become known for its discount club retail model at its Canna Cabana locations, modeled after Costco’s membership-based program. Some have even deemed the company the “Costco of Cannabis.”
High Tide’s differentiated retail approach has contributed to its success. In the third quarter of 2022, High Tide’s revenue increased to $95.4 million—up 98% compared to quarter three last year ($48.1 million).
So, how has the company continued to position itself as a leader in the Canadian cannabis retail space using its differentiated discount club approach?
Becoming the Costco of Cannabis
© Courtesy if High Tide
High Tide knew it had to differentiate itself to stand out and be successful in Canada’s cannabis market, says Raj Grover, founder, president, and