Tech-Savvy pioneers E-Commerce in the Hemp Space
In a rapidly-growing market brimming with countless hemp and THC vendors, standing out is crucial.
While many enterprises focus solely on product quality or expansive range, few intertwine these with technology to revolutionize customer experience. Mood is one such e-commerce platform that has seamlessly combined top-notch legal THC products with an unparalleled tech-driven approach.
More than merely a product distributor, Mood is carving a new path in the industry. Its rapid ascent to becoming America’s favored legal “dealer” underscores the effectiveness of this unique approach.
Roots in Tech and Cannabis
While the cannabis industry has witnessed growth and evolution, a tech-first approach combined with deep market understanding remained a missing link. Jake Antifaev, with hands-on experience in the Canadian cannabis circuit, identified this gap in the American THC e-commerce landscape.
To fill the gap, Antifaev partnered with tech aficionado David Charles, with the duo founding Mood on August 1, 2022. This self-funded venture quickly transformed from an idea into a disruptive force in the hemp market, projecting an astonishing $100 million in revenue by the close of 2023.
Enterprise Sophistication through Data Modeling
Mood’s vision goes beyond being just another e-commerce platform. Central to its operational framework is a relentless emphasis on sophisticated data modeling. That includes a team that includes an NLP (natural language processing) specialist.
Mood harnesses the power of data to understand and anticipate customer behavior better. The tools of the trade? Advanced software like Tableau for tailoring custom visual views and Posthog for deep-diving into website interactions such as clicks and scrolls.
One groundbreaking outcome of the data-driven strategy is the development of a churn prediction model. The model, with an 80% accuracy rate, predicts potential customer drop-offs two weeks after their first purchase. Such predictive insights empower Mood to take proactive measures, ensuring customer retention and satisfaction.
A Comprehensive Product Range with More on the Horizon
But Mood’s strength doesn’t end at tech, extending to its curated THC product range. Whether someone is seeking the aromatic allure of flowers, the on-the-go convenience of pre-rolls, the immersive experience of edibles, or the robust punch of concentrates, Mood has it all. Not to mention the CBD offerings.
However, the company is not stopping there. Mood is always teasing the launch of innovative products, reinforcing its commitment to pioneering in the THC e-commerce domain.
A Meteoric Rise with Lofty Ambitions
Mood’s trajectory in the industry breaks away from the norm. Within a year of its inception, it has not only carved a niche for itself but has also set ambitious goals. That includes its projected revenue of $100 million by the end of the year, but it is only one aspect of its unyielding commitment to growth and innovation.
In an industry where change is the only constant, Mood stands tall. Its combined vision of infusing tech-savvy solutions into the hemp space is a testament to the brand’s promise and potential. It gives people reason to pay attention to America’s favorite legal “dealer.”
Notes:
- Mood is a leading e-commerce hemp platform that makes legal, high-quality THC
- Mood has become America’s favorite legal “dealer,” enterprise sophistication data modeling is the unlock to Mood’s success
- Mood has 4 core people focused on data, including 1 NLP (natural language processing) specialist
- Use Tableau and build custom views
- Use Posthog to log all website events (clicks, scrolls etc) and regularly build custom dashboards to analyze and cross-pollinate this info to various depts
- One recent result has been a churn model which predicts with 80% (and rising) accuracy whether a customer is likely to churn 2 weeks out from their initial purchase, unlocking Mood’s ability to deploy measures to prevent churn
- Co-founded by tech nerds David Charles and Jake Antifaev and launched on Aug 1, 2022. Self-funded venture. Projecting 100M in revenue by the end of 2023.
- The original idea to launch a hemp company came from Jake, who had experience in the cannabis industry in Canada and noticed a lack of tech-savvy, customer-focused companies in the legal THC e-commerce space in the USA. Together with David, they knew they had the skills and expertise to disrupt the space and build a customer-centric hemp company.
- Sell flowers, pre-rolls, edibles, vapes, concentrates and CBD, with new innovation dropping later this summer
