Business

The biggest contributing factor to this opportunity is the impact that shelter-in-place orders have had on both ad supply and consumer behavior.

For cannabis marketers, generating mass awareness is far more difficult than it is for marketers in traditional consumer goods.

Cannabis marketers must navigate scores of disparate regulations that limit where, how, and who they can target with their message. This creates a serious challenge for brands that aim to move the needle on awareness or ad recall. 

The CEO of a Canadian cannabis company is expecting that the United States is headed for cannabis legalization in the next two years.

David Klein, the head of Canopy Growth, told CNBC’s Jim Cramer on Tuesday that as states continue to gradually permit medical and recreational use of marijuana, Congress will have no choice but to act.

Illinois officials say the state is almost ready to begin awarding social equity cannabis licenses after Gov. J.B. Pritzker suspended the process in late April due to the pandemic-prompted shutdown.

On Monday, Marijuana Business Daily reported that Canada, with first-mover advantage, has been exploring new territories to export its cannabis oil. Last year, the company reported to 17 counties—the highest number of counties that it has exported to until now. Overall, Canada exported 5,372.3 liters of cannabis oil products last year—a rise of 483.9% from 920 liters exported in 2018. Meanwhile, Health Canada allowed 12,887.9 liters of cannabis oil to be exported.

Consumers are making the best argument that legal marijuana can help reignite the economy by purchasing cannabis products in record numbers across the country.

Every day, people across the United States demonstrate how legal cannabis could save the nation’s economy from the virus-caused downtown. They do so by buying record amounts of weed.

In early 2020, legal marijuana sales were booming in Nevada. Tax revenue and sales figures reached record monthly highs, as likely did happy visitors and locals across the Silver State.

That all changed in March, when the coronavirus shut down cannabis stores, resorts along the Las Vegas Strip, and countless other businesses across the state. Following an order from Gov. Steve Sisolak, dispensaries operated for weeks on a delivery-only basis.

Backed by shifting customer preferences during the COVID-19 pandemic, cannabis edibles are eating into the market share of other weed format.s 

Now, the industry is left wondering if growing edible interest is a passing trend or a sustainable market shift.

Recent Edible Market Trends: Liz Connors, director of analytics for data intelligence company Headset said that consumers want a consistent, reliable product overall. 

"Brands that deliver a consistent experience will do well," she said.

Many people think of setting up a prosperous business at some point in their lives. Ideally, it should be relatively easy to manage, free of extra costs, and, of course, profitable. However, a lot of potential business owners get easily discouraged by the fact that there are usually many legal issues to sort out and not everyone feels comfortable with that. However, it seems that marijuana dispensary business is a good idea to make some profit relatively effortlessly.

The Families First and CARES acts each provide credits that can reach $5,000-plus per employee.

Relief appears to be available for cannabis companies

The cannabis industry rarely looks to the federal government for support. Yet the raft of fiscal relief addressing COVID-19 has caused some in the industry to wonder what options, if any, might be available for them.

Pot priced to compete with the illicit market stole the show as HEXO (HEXO.TO)(HEXO) reported its latest quarter. 

The Quebec-based company credited its Original Stash line for driving recreational sales net of excise tax up 28.8 per cent to $21 million in Q3. HEXO said its thriftiest offering accounted for half of the 9,338 kilograms sold to non-medical buyers in the three months ended April 30.