DEA's Reclassification of Marijuana Boosts Business Opportunities and Consumer Access, Signaling a New Era for the Cannabis Industry

BOCA RATON, Fla., May 01, 2024 (GLOBE NEWSWIRE) -- Springbig, a leading provider of marketing solutions for the cannabis industry, expressed their strong support for the Drug Enforcement Administration's (DEA) decision to reclassify marijuana as a lower-risk drug, announced yesterday. Reflecting the broad societal trends in the last decade-plus, this move from the DEA proves that the federal government is finally recognizing cannabis for its true value as an industry that is positively impacting businesses and consumers alike.

Jeff Harris, CEO of Springbig, commented, "The DEA's reclassification of marijuana is a transformative development for the cannabis industry. It not only reflects the evolving perception of cannabis in our society but also opens up tremendous business opportunities and greater access for consumers,” said Jeff Harris, CEO of Springbig. “This change will bring the cannabis market into the mainstream, promoting legal, regulated, and licensed businesses that, up until now were held back by undue regulatory burdens, realize their growth potential."

For consumers, the new classification means wider access to cannabis products that are personalized to their preferences and regulated for higher quality. It promises to reduce the stigma associated with cannabis use, making it more acceptable in mainstream healthcare and wellness circles.

From a business perspective, the reclassification reduces numerous regulatory barriers that have previously halted the growth and operational efficiency of cannabis companies. Businesses can now look forward to less stringent compliance demands, which can potentially lower costs and simplify legal processes. This is particularly beneficial for startups and established companies looking to expand their reach in the industry.

Springbig is uniquely positioned to assist businesses in navigating this new landscape. The company’s suite of tools, designed to ensure compliance with marketing and communication regulations, will be crucial for cannabis retailers and brands aiming to capitalize on the expanded market. Springbig’s technology enables these companies to maintain robust customer engagement, establish strong brand loyalty, and create advanced marketing practices and activations.

As the cannabis industry continues to evolve, Springbig remains dedicated to supporting this growth through cutting-edge solutions that promote responsible consumption and foster meaningful connections between cannabis businesses and their clients.

About Springbig:
Springbig is a market-leading software platform providing customer loyalty and marketing automation solutions to retailers and brands in the U.S. and Canada. Springbig’s platform connects consumers with retailers and brands, primarily through SMS marketing, as well as emails, customer feedback system, and loyalty programs, to support retailers’ and brands’ customer engagement and retention. Springbig offers marketing automation solutions that provide for consistency of customer communication, thereby driving customer retention and retail foot traffic. Additionally, Springbig’s reporting, and analytics offerings deliver valuable insights that clients utilize to better understand their customer base, purchasing habits and trends. For more information, visit https://springbig.com/

Media Contact:
Conor Douglass
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