Nevada has embraced a progressive stance on cannabis regulation, prioritizing safe accessibility to incredibly high quality cannabis for its residents and tourists alike. Thrive Cannabis Marketplace, a prominent Nevada-based retailer and consumer packaged goods company, stands as a leading example in this evolution.
Thrive is unique in Nevada and is proud of its strong local ownership, making them the state’s largest fully vertically integrated private cannabis company, successfully operating in a market dominated by multi-state operators. Since its initial launch in 2016, it has facilitated over 6,000,000 transactions and has stayed true to its initial mission to serve as the retail outlet for companies without their own storefronts. Thrive has maintained its presence as the go-to destination for individuals seeking premium cannabis products and authentic shopping experiences.
“We have always focused on providing consumers with the highest quality products that Nevada has to offer at the most affordable prices,” says Mitch Britten, CEO of Thrive Cannabis Marketplace.
Thrive currently employs around 250 people and operates six dispensaries, with two more in development, all of which are strategically located in high customer foot traffic areas across the state of Nevada. The stores typically offer around 1,000 SKUs across all product types which are analyzed on a daily basis to ensure competitiveness in pricing. Demonstrating a solid track record of steady foot traffic and continuous growth in customer base, it uses data and analytics to optimize labor and capitalize on peak traffic periods.
Due to its size, Thrive wields significant buying power within the market. This enables it to negotiate favorable prices with growers and suppliers, ultimately translating into market leading affordability for its customers and strong margins for its P&L. This strategy not just helps to simplify operations but ensures an honest and upfront sales process.
Thrive’s distinct people-forward culture, carefully cultivated over time, resonates with its employees, unequivocally positioning its people as the company’s key distinguishing factor. Prioritizing customer well-being above all else, the team ensures a welcoming environment at their stores and offers guidance on the safe, responsible and ethical use of cannabis and related products. Thrive has also implemented drive-thru operations at many of its locations to streamline operations and ensure swift transactions for customers looking for a quick in-and-out.
Going above and beyond to ensure customer satisfaction, Thrive’s leadership invests in ongoing training and development programs to ensure its staff stay updated on industry trends, new product releases and comprehend all properties of the products they sell. They undergo comprehensive training on product information, including strain characteristics, cannabinoid profiles and consumption methods. Along with effective sales techniques and strategies to bolster margins, they learn to highlight premium products and complementary items to enhance the customer’s shopping experience.
The company’s procurement process is guided by four values: consistency, responsibility of cultivation/extraction practices, brand support and value. Thrive prefers to focus on maintaining a consistent selection of tried and tested strains with proven genetics and reliable producers. It cultivates and produces a dozen core strains in-house, while relying on vendors to produce its specialty strains. Around 70 percent of its menu is sourced from third-party suppliers and the company works with producers to shelf unique strains and products that are only available at Thrive locations.
To maintain this reliable status, the firm was built on the pillars of compliance and transparency. Its team is incredibly active at the state and local levels and strongly opposes any regulation it deems harmful to the industry. The company also makes a deliberate effort to stay involved in all regulatory changes to ensure customers enjoy the varied benefits of legalized cannabis without being tempted to resort to the illicit market.
Thrive's tiered reward program is another step in its mission to assist customers. Previously, it used third-party programs which were largely successful but didn't offer much control over how promotions were delivered to customers. That’s when its new loyalty app—Thrive Rewards—was born.
The app incentivizes loyalty and encourages repeat visits by allowing its members to earn points for free products and accessories every time they make a purchase. Its user-friendly interface and intuitive navigation allows easy access to deals, giveaways and early notifications about exclusive product drops. Interactive features such as wheel spins and punch cards enhance customer engagement. Thrive Rewards has proven to be extremely successful, garnering high levels of engagement from users with approximately 300,000 dedicated subscribers.
The firm has recently launched Smoke & Mirrors, Nevada's first state-regulated cannabis consumption lounge conveniently located within its Strip location. Guests of the lounge will find an expertly curated menu of premium smoking products, including pre-rolls, flower and concentrates as well as a first-of-its-kind cannabis infused beverage program, catering to guests seeking something new or simply a more approachable item for the less canna-experienced. The program offers a diverse selection of cannabis-infused mocktails carefully dosed with anywhere from 2.5 - 10 MG, crafted by true mixologists, providing a sophisticated and enjoyable experience.
Remaining true to its mission of providing safe and affordable access to cannabis, Thrive stands as an innovative force building a fun, fulfilling and diverse community. Through its commitment to quality products and customer service, it continues to set new standards in the industry.
Thrive is unique in Nevada and is proud of its strong local ownership, making them the state’s largest fully vertically integrated private cannabis company, successfully operating in a market dominated by multi-state operators. Since its initial launch in 2016, it has facilitated over 6,000,000 transactions and has stayed true to its initial mission to serve as the retail outlet for companies without their own storefronts. Thrive has maintained its presence as the go-to destination for individuals seeking premium cannabis products and authentic shopping experiences.
We have always focused on providing consumers with the highest quality products that Nevada has to offer at the most affordable prices
Thrive currently employs around 250 people and operates six dispensaries, with two more in development, all of which are strategically located in high customer foot traffic areas across the state of Nevada. The stores typically offer around 1,000 SKUs across all product types which are analyzed on a daily basis to ensure competitiveness in pricing. Demonstrating a solid track record of steady foot traffic and continuous growth in customer base, it uses data and analytics to optimize labor and capitalize on peak traffic periods.
Due to its size, Thrive wields significant buying power within the market. This enables it to negotiate favorable prices with growers and suppliers, ultimately translating into market leading affordability for its customers and strong margins for its P&L. This strategy not just helps to simplify operations but ensures an honest and upfront sales process.
Thrive’s distinct people-forward culture, carefully cultivated over time, resonates with its employees, unequivocally positioning its people as the company’s key distinguishing factor. Prioritizing customer well-being above all else, the team ensures a welcoming environment at their stores and offers guidance on the safe, responsible and ethical use of cannabis and related products. Thrive has also implemented drive-thru operations at many of its locations to streamline operations and ensure swift transactions for customers looking for a quick in-and-out.
Going above and beyond to ensure customer satisfaction, Thrive’s leadership invests in ongoing training and development programs to ensure its staff stay updated on industry trends, new product releases and comprehend all properties of the products they sell. They undergo comprehensive training on product information, including strain characteristics, cannabinoid profiles and consumption methods. Along with effective sales techniques and strategies to bolster margins, they learn to highlight premium products and complementary items to enhance the customer’s shopping experience.
The company’s procurement process is guided by four values: consistency, responsibility of cultivation/extraction practices, brand support and value. Thrive prefers to focus on maintaining a consistent selection of tried and tested strains with proven genetics and reliable producers. It cultivates and produces a dozen core strains in-house, while relying on vendors to produce its specialty strains. Around 70 percent of its menu is sourced from third-party suppliers and the company works with producers to shelf unique strains and products that are only available at Thrive locations.
To maintain this reliable status, the firm was built on the pillars of compliance and transparency. Its team is incredibly active at the state and local levels and strongly opposes any regulation it deems harmful to the industry. The company also makes a deliberate effort to stay involved in all regulatory changes to ensure customers enjoy the varied benefits of legalized cannabis without being tempted to resort to the illicit market.
Thrive's tiered reward program is another step in its mission to assist customers. Previously, it used third-party programs which were largely successful but didn't offer much control over how promotions were delivered to customers. That’s when its new loyalty app—Thrive Rewards—was born.
The app incentivizes loyalty and encourages repeat visits by allowing its members to earn points for free products and accessories every time they make a purchase. Its user-friendly interface and intuitive navigation allows easy access to deals, giveaways and early notifications about exclusive product drops. Interactive features such as wheel spins and punch cards enhance customer engagement. Thrive Rewards has proven to be extremely successful, garnering high levels of engagement from users with approximately 300,000 dedicated subscribers.
The firm has recently launched Smoke & Mirrors, Nevada's first state-regulated cannabis consumption lounge conveniently located within its Strip location. Guests of the lounge will find an expertly curated menu of premium smoking products, including pre-rolls, flower and concentrates as well as a first-of-its-kind cannabis infused beverage program, catering to guests seeking something new or simply a more approachable item for the less canna-experienced. The program offers a diverse selection of cannabis-infused mocktails carefully dosed with anywhere from 2.5 - 10 MG, crafted by true mixologists, providing a sophisticated and enjoyable experience.
Remaining true to its mission of providing safe and affordable access to cannabis, Thrive stands as an innovative force building a fun, fulfilling and diverse community. Through its commitment to quality products and customer service, it continues to set new standards in the industry.
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