Nicole Hanratty, Vice President of Marketing at MWG Holdings, is set to deliver a keynote speech at the Vibe Conference on March 5, focusing on the pivotal role of consumer data in the burgeoning market for hemp-derived THC beverages in hospitality venues. Her presentation, titled 'How Consumer Data is Unlocking Cannabis Beverages for On-Premise,' will delve into how dispensary retail sales data can guide on-premise purchasing decisions and highlight the alignment between consumer preferences for these beverages and mid to premium cocktail trends.
Hanratty's insights come at a time when the crossover between alcohol and hemp-derived THC consumers is becoming increasingly evident. A Q4 2024 study by Brightfield Group reveals that 52% of hemp-derived THC consumers also drink alcohol, suggesting a complementary relationship between the two markets. This data underscores the opportunity for on-premise operators to cater to the evolving preferences of Millennials and Gen Z, who are increasingly favoring alternative effect-based social beverages.
MWG Holdings, under Hanratty's marketing leadership, has witnessed firsthand the growth of the cannabis beverage segment, with products like 5G Pop and 5G Tea gaining traction in California dispensaries. Despite a general compression in the edibles category, cannabis beverage sales have shown resilience, with notable spikes during summer months and holidays. Hanratty's session aims to equip hospitality operators with actionable strategies to leverage this trend, potentially boosting average ticket values through innovative menu offerings.
Joining Hanratty in this discussion will be Angelica Sanchez, Sr. Director of Government Affairs & Compliance at MWG Holdings, who has been instrumental in navigating the regulatory landscape for cannabis businesses. Together, they will share their expertise on how the hospitality industry can adapt to and capitalize on the shifting dynamics of consumer preferences towards hemp-derived THC beverages.
