Oasis Cannabis Successfully Launches VIP Loyalty Program, Driving Improved Cash Flow and Customer Satisfaction
LAS VEGAS, NV / ACCESSWIRE / July 19, 2023 / CLS Holdings USA, Inc. (OTCQB:CLSH)(CSE:CLSH), (the ''Company'' or ''CLS''), a diversified cannabis company operating as Cannabis Life Sciences, is pleased to announce the successful launch of its new VIP loyalty program for the Company's retail dispensary, Oasis Cannabis. Following five years of developing, expanding and managing the dispensary's very effective standard loyalty program, Oasis Cannabis now debuts its new VIP edition utilizing Springbig's text-based loyalty software.
Alongside the recent implementation of additional innovative solutions, this program is having positive effects on the Company's revenue and cash flow.
Oasis Cannabis' inaugural VIP loyalty program, launched on Saturday July 1st, has received an overwhelmingly positive response from our Oasis customers. Available to all customers, the elevated loyalty program provides outstanding value, offering a range of benefits for a nominal fee of only $20 per month or $150 yearly. Membership perks include expedited services such as skip-the-line privileges, a standing discount of 25% off (all day, every day), a remarkable 40% off on all City Trees products (all day, every day), 1st visit & monthly promotional items, free delivery (all day, every day),and first looks into flash sales, fresh drops, and more. With its exceptional offerings, the VIP loyalty program is expected to attract thousands of sign-ups annually.
The Springbig-powered platform delivers a user-friendly experience with text message-based rewards, easy-to-keep-track-of cashback points, and integrated online ordering. Providing a high-value seamless experience encourages customers to engage with the loyalty program, incentivizing higher and more frequent spending, and allowing customers to try a wider variety of products for less, thus increasing customer retention and satisfaction. This program not only provides value to the customer but also equips the Company with consumer behavior data, allowing Oasis to offer targeted rewards customized to the customers preferences. Additionally, an improved customer experience and increased spending, results in increased overall revenue across both Oasis Cannabis and City Trees.
The integration of new tools and services like the VIP loyalty program, as well as the recently implemented AI budtender chatbot by Pluggi and the POSaBIT point-of-sale system, has had significant positive results. By offering attractive discounts and benefits through the loyalty program, Oasis encourages customers to explore and purchase a wider variety of products at reduced prices. This mutually beneficial approach has not only contributed to the Company's revenue growth but also makes cannabis more accessible and affordable to its customers.
The past two quarters have seen impressive cash flow generated from operations of approximately $800,000 each quarter.
"CLS is committed to providing outstanding value to our customers, especially our local and frequent visitors," said Andrew Glashow, CEO of CLS Holdings. "With the introduction of our VIP loyalty program and other modern tools, we aim to set the standard for how the cannabis shopping experience should be- convenient, affordable, and of the highest quality, from the products you purchase to the ordering process and in-store experience. We are dedicated to continuously enhancing our customers' satisfaction and ensuring their loyalty."
CLS Holdings remains devoted to improving operations and user experience by implementing the latest and greatest technology in the cannabis industry for both its retail dispensary, Oasis Cannabis, and branded product division, City Trees. As a treasured dispensary among locals, Oasis strives to offer affordable products to its loyal customers residing in the area just as much as it warmly welcomes out-of-towners. Both visitors and frequent customers alike can sign up and reap the benefits of the new VIP loyalty program.
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This press release contains certain ‘'forward-looking information'' within the meaning of applicable Canadian securities legislation and ‘'forward-looking statements'' as that term is defined in the Private Securities Litigation Reform Act of 1995 (collectively, the ‘'forward-looking statements''). These statements relate to, among other things, the expected development of our business and joint ventures, results of operations and financial performance, future liquidity, working capital and capital requirements. The continued spread of COVID-19 could have, and in some cases already has had, an adverse impact on our business, operations and financial results, including through disruptions in our cultivation and processing activities, supply chains and sales channels, and retail dispensary operations as well as a deterioration of general economic conditions including a possible national or global recession. In some cases, you can identify forward looking statements by terminology such as ‘'may,'' ‘'might,'' ‘'will,'' ‘'should,'' ‘'intends,'' ‘'expects,'' ‘'plans,'' ‘'goals,'' ‘'projects,'' ‘'anticipates,'' ‘'believes,'' ‘'estimates,'' ‘'predicts,'' ‘'potential,'' or ‘'continue'' or the negative of these terms or other comparable terminology. These forward-looking statements are only predictions, are uncertain and involve substantial known and unknown risks, uncertainties and other factors which may cause our actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. We cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these forward-looking statements, which speak only as of the date that they were made. These cautionary statements should be considered together with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, we do not intend to update any of the forward-looking statements to conform these statements to reflect actual results, later events or circumstances or to reflect the occurrence of unanticipated events. See CLS Holdings USA filings with the SEC and on its SEDAR profile at www.sedar.com for additional details.
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SOURCE: CLS Holdings USA, Inc.
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Released July 19, 2023