skip to Main Content
5 Ways Quarantine Has Changed the Cannabis Industry Forever

Covid-19 lockdowns sparked a ‘green rush,’ changing much about how consumers shop

Stuck in quarantine for weeks on end and hoarding necessities, consumers have made their Covid-19 buying preferences extremely clear: toilet paper, frozen pizza, jigsaw puzzles and hand sanitizer.

For certain consumers, cannabis–once likely considered a discretionary purchase—has fast been added to that list, fueling an unprecedented green rush with record-breaking sales since lockdown went into force in March.

“Stocking up is the new norm,” said Roy Bingham, co-founder and CEO of analytics firm BDSA, with Brightfield Group finding that 57% of cannabis consumers say they have already stocked up, or plan to do just that.

Though the surge is welcome news for the industry, it doesn’t solve some of cannabis’ endemic problems. Heavily taxed but still federally illegal, weed businesses aren’t currently receiving any government-backed bailouts or pay protection in the small business stimulus package (though lobbyists and a few legislators are trying to change that for future rounds of pandemic relief).

Many are also cash-strapped, having no access to bank loans while venture capital has dried up, and continue to be locked in heated battle with both their above-board competitors and dealers who continue selling illicitly. [Read More @ ADWEEK]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

NY Cannabis Board Issues New Rules Allowing People To Grow Medical Marijuana At Home

New York’s Cannabis Control Board issued regulations Thursday to allow medical marijuana users and their caregivers to grow their own supply at home. The proposal, now open to public comment for 60 days, would permit the cultivation of up to six marijuana plants in a private residence. The regulation will take effect after the commentary…

NY Cannabis Board Issues New Rules Allowing People To Grow Medical Marijuana At Home

New York’s Cannabis Control Board issued regulations Thursday to allow medical marijuana users and their caregivers to grow their own supply at home. The proposal, now open to public comment for 60 days, would permit the cultivation of up to six marijuana plants in a private residence. The regulation will take effect after the commentary…

Florida’s First Black Medical Marijuana License Recipient Will Have to Pay for the Privilege

The process was like the slow burn of a fatty (prescribed for medicinal use only, of course). Last week, five years after Floridians voted to legalize medical marijuana in 2016, state officials announced an “emergency rule” that sets aside one medical marijuana license specifically for a Black farmer. That might seem like a welcome measure to help…

Texas says popular cannabis extract, delta-8, is illegal, sending retailers scrambling

The federal farm bill in 2018 made the substance legal because of its low THC content. Three years after federal legislation removed the marijuana extract known as delta-8 THC from the nation’s list of controlled substances, Texas health officials have put it on its own list of illegal drugs, sending a shockwave through the growing…

More Categories

Back To Top
×Close search
Search