Business

An “Essential” Distinction? Medical Versus Recreational Marijuana In The Time Of COVID-19

When Mitt Romney was running for president in 2012, he traveled to Colorado, where a reporter questioned him about the state’s impending legalization of recreational marijuana.

“Ask me about something important,” he shot back, before calling on the next journalist. 

Why COVID-19's Digital Ad Markets Are A Boon For The Cannabis Industry

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. 

Canopy Growth CEO expects weed will be legalized federally by 2022

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.

Canada’s Cannabis Oil Exports Rose More than 450% in 2019

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.

Cannabis Sales Continue to Soar Through The Pandemic

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.

Las Vegas cannabis stores are reopening. Here’s what it looks like

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.

Cannabis Edible Leaders On The Sector's Future: 'Very Convenient To Consume'

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.