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The CPG Guys, Sri & PVSB, are joined in this episode by Meredith Mahoney, President of Lantern, a home-delivery cannabis business that was incubated within Drizly.
Follow Meredith Mahoney on LinkedIn at: https://www.linkedin.com/in/meredith-mahoney/
Follow Lantern online at: http://www.lanternnow.com
Meredith answers these questions:
1) You spent a good part of your career prior to Lantern working in DTC businesses, notably at Wayfair, a familiar online merchant of home furnishings, décor, home improvement & housewares. What about Lantern drew you to the opportunity to enter this emerging vertical?
2) On the CPG Guys podcast, we like to educate our audience on the components of a business model. Would you help us decompose the services and capabilities that Lantern is providing including the supply chain partnerships? Is Lantern a software company, a delivery service, or both?
3) When legal Cannabis was introduced in Colorado, it was highly publicized that the banking & payment industries avoided servicing this emerging industry. Can you walk us through how consumers using your platform are able to pay for legal cannabis?
4) Legal cannabis sales are relatively new to consumers. Would you help us understand the current state of availability and the relative market size of the legal industry? Where are you currently able to operate? What regions are emerging on the horizon and how is Lantern enabling services in emerging markets?
5) Let’s talk about the merchandising aspects of Lantern. Product search in the Drizly division is predicated on well-known brands and varieties of beer, wines & spirits. These structures do not exist in cannabis. How do you go about establishing a product hierarchy and content that makes your offerings discoverable by users? How do you focus on ensuring a superior customer experience, perhaps even better than what they might find on a dispensary’s site?
6) While operating as a separate business unit of Drizly, does Lantern benefit in any way from the resources & capabilities of the broader enterprise?
7) How do you go about creating awareness for your business? What are the primary mechanisms for advertising and how is it done in a responsible manner?
8) What are the growth drivers of your business that you spend your time seeking to enable as President of Lantern?
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