Listen to consumers and budtenders, not shareholders, says GTEC CEO

Innovative firsts like listing terpene content on product labels is the result of keeping a close ear to the ground floor of the market

GTEC Holdings Ltd. (TSX:GTEC)

VANCOUVER, BC, CANADA, February 11, 2021 / -- By now, everyone following the sector knows how corporate echo chambers led to massive losses in the licit weed industry, but a lesser-told story is how smaller firms like GTEC Holdings Ltd. (TSX-V: GTEC) (OTC: GGTTF) (FRA: 1BUP) have kept an ear to the ground.

GTEC has had a string of firsts in the Canadian cannabis market: first to package in glass jars, first to list terpene content on product labels, first to launch the now meme-status cultivar Black Cherry Punch and, most recently, first to launch a legal blunt.

Its brands, BLK MKT and Tenzo, have scored high marks from consumers for delivering on quality when it comes to the weed inside.

Last week, the British Columbia-based producer’s stock got its biggest bump in over a year after the company launched an e-commerce site for registered patients. However, renewed industry optimism has been boosting weed stocks across the board.

Listen to consumers and budtenders, not shareholders, says GTEC CEO - Norton Singhavon etc.
GTEC CEO Norton Singhavon (centre), head of cultivation David Buckle (left), co-founder and VP Mike Blady (right). Submitted photo
‘I want that feedback’
But who’s been driving the decisions at GTEC? Investors? Shareholders?

Consumers and budtenders, CEO Norton Singhavon tells Mugglehead in a phone interview.

Singhavon says he gets a little irritated sometimes when his shareholders tell him to do more stock promotion.

“I’m not gonna put money into stock promotion,” he says. “I’d rather use that money for brand promotion.”

On Twitter, Singhavon openly asks for feedback.

“If my product is not up to par, and I can do better, I want to know. I want that feedback. So listening to consumers, I think is first and foremost, but number two is listening to budtenders,” he explains.

“They’re equally as important because of the consumer interaction,” he continues. “I could talk to a budtender and he or she may have spoken to 40 or 50 people that day.”

While other licensed producers push...

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