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We dive deep into East Coast cannabis markets with Rick Bashkoff, CEO of Lit Alerts, examining how data is reshaping operations in New York, New Jersey, and beyond as these emerging marketplaces evolve.

• Data accuracy in cannabis typically ranges from 70-90% with most platforms using similar methodology to predict market trends
• New York's cannabis retail scene faces challenges with rampant illicit stores that mimic legal dispensaries and confuse customers
• Top-performing stores in Maryland and New Jersey generate over $1 million monthly, while New York averages $600,000-$700,000 in its top quartile
• Store density significantly impacts performance, with Long Island's limited competition allowing dispensaries to reach multi-million dollar monthly revenues
• New York-born brands dominate their local market while New Jersey shows more receptiveness to established national brands
• Regional preferences exist across form factors, with urban areas favoring vapes and edibles while rural regions prefer traditional flower
• Product movement tracking through alerts and notifications helps brands identify when retailers are running low on inventory
• Challenges with indoor growing capacity in New York creates quality limitations compared to West Coast markets
• Successful brands from other states like Miss Grass, Fernway, and Clay Nine have rapidly gained market share when entering New Jersey
• Focus on operational fundamentals and customer needs rather than industry noise is essential for sustainable success

Visit litalerts.com for a 30-day free trial to explore their data tools, or connect with Rick on LinkedIn for more insights on cannabis market dynamics.

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High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.

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Amy O'Gorman Jenkins, one of California's most influential cannabis lobbyists and director of the California Cannabis Operators Association (CaCOA), breaks down the critical fight to reform cannabis taxes and save the state's struggling legal market. The industry faces a dire situation with legal cannabis sales dropping 30% since 2021 and a recent automatic tax increase from 15% to 19% that represents a 25% hike for consumers.

• Legal cannabis sales in California have dropped 30% since Q2 of 2021
• The cannabis excise tax just increased from 15% to 19% on July 1st, creating a combined tax burden of approximately 38%
• AB 564 would revert the tax back to 15% for five years but faces opposition in the Senate after passing the Assembly 76-0
• Budget negotiations to freeze the tax increase failed despite Governor Newsom's public support
• Tax revenue beneficiaries oppose reform, incorrectly arguing higher taxes will generate more revenue
• California's legislature includes 120 members (80 Assembly, 40 Senate) with 70% of Assembly members having less than four years' experience
• Industry associations are fragmented and under-resourced, limiting political influence
• AB 8 aims to regulate intoxicating hemp products under the cannabis framework
• Future cannabis reform may require a constitutional amendment returning to voters

Call your state senator today to express support for AB 564 and join industry associations to strengthen advocacy efforts in Sacramento.

https://www.cacoa.org/

--
High Spirits is brought to you by Vertosa and Wolf Meyer.

Your hosts are Ben Larson and AnnaRae Grabstein.

Follow High Spirits on LinkedIn.

We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover?

Visit our website www.highspirits.media and listen to all of our past shows.

THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations.

Remember to always stay curious, stay informed, and most importantly, keep your spirits high.