LucidMood™ Leverages Science to Create 5 Targeted Cannabis Products: Luminous, Loving, Lively, Luscious, and Lullaby
Ryan Allway
April 21st, 2020
App, Exclusive, News, Top News
The cannabis industry has experienced record sales throughout the COVID-19 outbreak, making it one of the few attractive corners of the market. While there are many different cannabis companies and products, LucidMood™ has become one of the most popular brands in the space with its mood-based product selection.
Let’s take a look at how LucidMood™ sees the market, what sets its products apart from competitors, and why it has seen early traction in Colorado and Arizona.
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Top 5 Cannabis Users
LucidMood™ recognized a market opportunity for mood-based, rather than a strain-based, cannabis brand back in 2016. After launching the first mood-branded vape that incorporated CBD in 2017, the company achieved $1 million in wholesale revenue.
In 2019, the company hired Dr. Tristan Watkins, Ph.D., a neuroscientist that has published six papers focused on cannabinoids and terpenes. Dr. Watkins began formulating the company’s next generation of products that incorporated cannabinoid and terpene science.
Click below to hear Dr. Tristan Watkins explain the company’s target market:
Click here to receive an investor presentation and corporate updates
LucidMood™ researchers identified five distinct types of cannabis users from an extensive survey of cannabis users throughout its target markets:
- “I want to be high, but not too high.”
- “I want to feel buzzed, but still social.”
- “I’d like to have a sativa that doesn’t make me anxious.”
- “I want the euphoria without the crash.”
- “I want to relax without falling asleep.”
After identifying these demographics, the company reviewed existing research on cannabinoids and terpenes and developed formulas for each use case and validated the products with target consumers to ensure they were successful.
The result has been five unique products:
- Luminous (1:2 THC:CBD plus a geraniol and phytol dominant terpene blend)
- Loving (1:1 THC:CBD plus CBG and a nerol dominant terpene blend)
- Lively (2:1 THC:CBD plus a limonene and valencene dominant terpene blend)
- Lucious (4:1 THC:CBD plus a caryophyllene and linalool dominant terpene blend)
- Lullaby (8:1 THC:CBD plus a terpinolene and humulene dominant terpene blend)
These products are designed to bridge the gap between consumers that hate THC and only want CBD products and consumers that are simply looking for the highest percentage of THC in a product — two demographics that most other cannabis-focused companies target.
Click the image below to hear about the inspiration behind the product formulations:
Market Traction
LucidMood™ launched in Colorado in October 2019 and has already become the best-selling CBD-enhanced THC vape pen. Despite the uncertainty being caused by COVID-19, LucidMood continues to expand its sales distribution and win new dispensaries.
Top 10 Brands by Dollars Sold Dec ‘19 through Feb ‘20. Source: BDS Analytics
In March, the company launched in Arizona by leveraging iAnthus’ vertically-integrated supply chain. iAnthus owns four full-service dispensaries, two modern and fully-equipped production labs for producing cannabis derivative products and two large-scale indoor cultivation facilities.
LucidMood’s unique focus on the nuances of the cannabis experience has translated to extremely high brand loyalty. In fact, the company’s internal research found that 7-in-10 budtenders like LucidMood™ so much that they add at least one SKU to their repertoire. LucidMood™ is pioneering a new category and dispensaries want exposure.
These dynamics are important because as much as 92% of consumer buying behavior is driven by budtender recommendations. As a result, the company has a program in place to identify cannabinoid/terpene geeks and setup one-to-one calls with its cannabis neuroscientist to discuss the ins and outs of the new product category and brand.
Despite the setbacks from COVID-19, the company believes that it can triple sales by October 2020 and then triple them again by November 2021 with the launch of LucidMood in Nevada (via iAnthus). The company’s lean management team is well-positioned to execute on these goals.
Click here to receive an investor presentation and corporate updates
Raising Growth Capital
LucidMood™ is already expanding into Arizona and has plans to expand into Nevada through its unique partnership with iAnthus. These developments could help drive revenue and ultimately unlock value for early investors. Despite the uncertainty being caused by COVID-19, LucidMood continues to expand its sales distribution and win new dispensaries. In addition, the company is developing a fast-acting sublingual version of LucidMood™ and other exciting new products.
LucidMood™ is currently raising $1 million in growth capital at a $2 million pre-money valuation with a $100,000 minimum investment for new investors. If you’re an accredited investor, sign up to download the company’s investor presentation and offering details today.
LucidMood™ Contact:
Charles Jones – CEO
CFN Media Contact:
Frank Lane – President
flane@cannabisfn.com
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.
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