North American Cannabis Consumers Decreased Spending In Q2 By 9.8% YoY, springbig Market Data Report
Portfolio Pulse from Vuk Zdinjak
springbig (NASDAQ:SBIG) released its Q2 data report showing a decrease in cannabis consumer spending in North America by 9.8% YoY. The report also highlighted an increase in in-store visits and sales YoY and between Q1 and Q2. The company's CEO, Jeffrey Harris, emphasized the importance of accurate consumer data for strategic business decisions.
July 19, 2023 | 12:08 pm
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NEUTRAL IMPACT
springbig's Q2 report shows a decrease in cannabis consumer spending but an increase in in-store visits and sales. This could indicate a potential shift in consumer behavior, which could impact the company's future strategies and performance.
The decrease in consumer spending could negatively impact springbig's revenues. However, the increase in in-store visits and sales could indicate a potential shift in consumer behavior, which could lead to different strategies to boost sales and revenues. The impact on the stock price is uncertain in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100