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Cronos Group

Innovating the cannabis category to capture a $50B market

  • Brand Foundations
  • |
  • Brand Futures

The challenge

With legalization sweeping U.S. states – and with it the rise of ‘cannabis-curious’ consumers – the recreational cannabis market was set for explosive growth.

 

Global cannabinoid leader Cronos Group tapped TRIPTK to develop a comprehensive market entry strategy to position Cronos as the leading player in this ‘green field’ U.S. market.

 

Our opportunity: develop a ground-up, consumer-driven business strategy in a burgeoning market with no benchmarks or boundaries.

Decode

Our analysis of the market opportunity revealed numerous cliched, one-size-fits-all products – and few brands – that tapped into the new culture of cannabis. To find out where the opportunity lay, we took our client partners on a discovery journey – visiting living rooms and dispensaries across the U.S., and surveying thousands of target consumers to understand the diverse needs, drivers and values of partakers.  We then built a first-of-its kind psychographically driven segmentation that prioritized and sized the key consumer groups that would define cannabis use in the U.S. for the years to come.   

We applied our audience-first strategy to Cronos’ portfolio and product-brand strategy, identifying offering gaps and opportunities to serve the most valuable consumer need states.  We then developed a new innovation pipeline tailored to opportunities emerging from the rapidly expanding U.S market.  

Recode

Putting our innovation strategy into practice, we created and validated a series of new-to-world cannabis brands and product lineups to deliver on unmet needs in the cannabis consumer experience.

Our cannabis innovations include Feelz, a brand that translates complex rare cannabinoids science into a more user-friendly, mood-based experience.

Feelz was introduced to the world with sensory-led social and influencer strategy developed in partnership with TRIPTK sister agency Annex88. 

Transform

Launched first in Canada, Feelz led to a stock price rally for Cronos Group and has become the top-selling edible brand in the country. 

Partnership Impact:
Position in Canadian cannabis market #1
Position in Cannabis Stocks to Watch #2
Market share captured 15.8%
Eric Klein
Fmr. CMO
Cronos Group
I would recommend TRIPTK to any brand leader looking for innovation to bring about bold change and meaningful growth.
Their team has helped us navigate one of the fastest-moving consumer landscapes in history and their work has had a profound business impact on our portfolio strategy and innovation pipeline. ”