02:56:12 EDT Thu 25 Apr 2024
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or Name
USA
CA



Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 113,251,146
Close 2020-07-14 C$ 16.08
Market Cap C$ 1,821,078,428
Recent Sedar Documents

FP/CP say Canopy, rivals find brand awareness elusive

2020-07-14 09:41 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Tuesday, July 14, edition that Canadian cannabis brands are having a tough time getting consumers to notice them. A Bloomberg dispatch to the Post reports that no brand in Canada has more than 41-per-cent recognition among current cannabis users, with most languishing between 1 per cent and 15 per cent, according to a survey of 3,000 consumers conducted by pot data firm Brightfield Group. Even those that attract the most attention are not converting that awareness into purchases. While Canopy Growth's Tweed and Aurora Cannabis's Drift have the widest brand awareness at 41 per cent and 34 per cent, less than half of consumers familiar with those brands actually go out and buy them, according to Brightfield's report. "Industry players have primarily focused on raising capital, but this has not inherently translated into strong customer relationships. As the market becomes more consumer-centric, brands must focus on developing a deep understanding of the competitive landscape and consumer behaviour to stay relevant and ensure they don't risk being seen as a commodity." What does this mean for Canadian cannabis companies? Brightfield says, "For now, it's anyone s game."

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