What Does the Future Look Like for the Cannabis Industry?

As the cannabis industry continues to move forward, most people believe it will continue to accelerate in the coming years, from consumers to the distributors and retailers.

The rapid growth of the cannabis industry is attributed to the various steps governments have taken toward legalization. In 2021, investors doubled down on their support for the technology that is currently helping to drive the industry forward.

Despite the challenges that the industry faced in the past year, such as the global pandemic and the lack of progress on federal policies aimed at modernizing the industry, it still managed to grow. With the support of a record-high number of Americans for legalization, industry leaders believe the market will continue to flourish in 2022 and beyond.

  1. Stereotypes Will Fade

Despite the various positive effects of cannabis, negative stereotypes about consumers continue to exist. However, this is expected to change in the year to come.

A study by Dutchie surveyed 5,000 adult cannabis consumers in Canada and the United States, revealing that most of them are women. They are also highly educated and have a healthy lifestyle. This proves that the stereotypes about consumers are not only wrong but also very contrary to what people typically imagine.

A study conducted by FlowHub revealed that the number of modern cannabis consumers is increasing. This shows that the industry leaders are in a solid position to capitalize on the growing industry’s opportunities.

As the number of cannabis consumers continues to increase, industry leaders must increase their efforts to help them find the right product for their needs. This will allow them to make informed decisions when it comes to buying. One of the most critical factors that industry leaders should consider is the increasing number of product descriptions geared toward helping consumers look past the high THC content and focus on the quality of the product.

  1. Normal Cannabis Shopping Experience 

Despite the various positive effects of cannabis, the presence of regulations has hindered the operations of its retailers. Although the federal government is unlikely to pass legislation that would allow the national legalization of cannabis by the end of 2022, several states will still be holding out for the opportunity to do so.

This will allow the industry to move toward a more convenient and safer shopping experience. One of the most critical factors that industry leaders should consider is the increasing number of technological solutions that allow them to provide this retail experience. Unfortunately, most of the industry has still had to rely on cash payments. This is not an ideal solution for both consumers and businesses.

In addition to the traditional payment methods, consumers are also starting to use pay-ahead and roadside pickup services. These services will only grow in importance next year. Although the traditional e-commerce model has dominated the operations of most industries, the cannabis industry will finally see the emergence of innovative solutions that will allow it to provide a more seamless and secure shopping experience. These new services will help retailers manage their compliance requirements and lower costs.

The New Era

The following year will bring various changes and surprises to the cannabis industry. Due to the increasing number of countries that are expected to allow the legalization of cannabis, technology will play an essential role in making it easier for consumers to access these products.

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Choosing a Location for Your Cannabis Retail Business

Everyone in the retail industry knows that a well-designed location is significant to successful operations. Cannabis retailers are no different. Although the exact requirements for licenses and market demand will vary, having a well-designed facility can help marijuana retailers succeed. Retailers looking for the best location will benefit from understanding their local market and trends. 

  1. Thinking Locally as well as Regionally

According to Michael Lord, the chief operating officer of LivWell Enlightened Health, a Colorado-based medical cannabis company, retailers should consider where they want to establish their operations.

Although it’s essential to know your local market, conducting market research in other areas is also important. According to the CEO of Bricks and Mortar Group, a Michigan-based real estate firm, doing so can help retailers find the ideal location that will support long-term growth.

Knowing the details of the local market can help retailers make informed decisions when it comes to planning for the future. This is especially important in such a regulated industry, as certain locations might have differing laws.

According to Brian Mitchell, the chief executive officer of Shryne Group, a Los Angeles-based cannabis company, numerous areas in California still lack a local presence for cannabis retailers. In November 2020, several cities and counties in the state voted in favor of pro-cannabis initiatives, which helped boost the local market.

  1. Find Your Niche

According to Seun Adedeji, the founder and CEO of Elev8 Cannabis, small and medium-sized businesses can also benefit from having a presence in rural areas. Elev8 expanded its operations in Massachusetts by focusing on border towns in New Hampshire, Vermont, and New York. These areas were cheaper to acquire real estate in than in major cities.

Adedeji noted that the beauty of these border towns is that they only have two recreational licenses per town. This means that their value can still increase. Having a presence in these areas can also help retailers expand their operations.

A small Canadian retailer known as the Erbn Green Cannabis Co. was able to expand its operations in October by opening a location in Toronto’s uptown area. According to Farrell Miller, the company’s chief compliance officer, the site was able to meet the needs of the area’s underserved population.

  1. Buy or Lease?

Adedeji had difficulty finding a new location for his first store in Oregon after the landlord refused to renew his lease. He decided to buy real estate instead. This method allowed him to expand his operations and avoid leasing. If prospective tenants want to lease, Adedeji advises them to consider a 10-year deal.

Landlords are sometimes reluctant to lease to cannabis businesses due to the federal government’s stance on cannabis, leading to additional concerns from property owners that they might run afoul of their mortgage lenders. As private funding for cannabis businesses increases, more companies acquire properties and then lease them back to the operators. This method allows experienced retailers to expand their operations and avoid leasing. 

Leasing could be an effective strategy for cannabis businesses, especially while businesses are still recovering from COVID-19. This has allowed many business owners to negotiate better deals with their landlords, saving money for other operations.

The Top Three Cannabis Edible Products

The popularity of edible cannabis products has been steadily growing within the past few years. Many people are looking to reduce their anxiety by consuming edible cannabis without smoking. However, finding the right edible can be a bit challenging. There are a variety of options online, and what you’re looking for might not be available at your nearest dispensary.

Listed below are the top three best cannabis edible products that are currently available on the market.

Everest Delta-8 THC Gummies

Delta-8 is a high-quality component of hemp that’s legally allowed to be purchased anywhere. Unlike other products, Everest Delta-8 THC Gummies contain no psychoactive substance. This means that it’s less likely to cause users to feel like they’re experiencing a psychoactive effect. Its pain-reducing and anxiety-easing effects make it an ideal alternative to other products, especially given its legal status.

These Delta-8 Gummies are made with non-GMO ingredients, and they’re simple to dose. If you live in a legal state, these can be purchased in regular variants.

Big Pete’s Treats Cookies

An edible brand like Big Pete’s Treats can be considered an ideal addition to any adult’s snack collection. Their cookies come in a variety of flavors, such as chocolate chip, peanut butter, and lemon. Each cookie has a 10 mg THC content. If you’re looking for a more considerable amount, you can also purchase the Insane Churro Cookie, which comes with 100 mg of cannabis per pack. Most of the time, these cookies are made from either Indica or Sativa varieties, and they can be purchased individually or in packs of six or ten. 

3Chi Delta-8 Cereal Treats

Most people picture edible products as a cookie or brownies. However, when it comes to THC-infused products, Rice Krispy Treats are a must-have. These are infused with Delta-8 THC, making them a practical and legal alternative to other products.

These Delta-8-infused cereal bars are made with standard crispy rice cereal, and they come in a variety of flavors, such as fruity and chocolate. The bars are a great addition to any snack collection, as they can help ease the pain and anxiety that you’re experiencing. With a candy-like taste and no hemp flavor, these treats are a satisfying addition to your collection of cannabis edibles. If you’re looking for an effective dose of THC to help ease your anxiety or aches, these are the perfect treat.

The Unique Benefits of Cannabis for Women

Due to the increasing acceptance of cannabis among women, there has been a rise in the number of people who are now using it for their health. This is excellent news for all women. There are various benefits to using cannabis for women, and we’ll talk about some of the important and unique ones.

Skincare Benefit

The hemp seed oil is also widely used as a by-product of cannabis for skincare. It has anti-inflammatory properties and can help soothe and treat various skin conditions. Researchers are currently exploring the use of cannabis in treating acne. If you have dry, sensitive skin or are dealing with eczema, marijuana can help you get some relief.

Mental Health

A recent study revealed that cannabis could help decrease depression and be an effective antidepressant. It has been known that more than 260 million people worldwide suffer from this condition, and women are more likely to be affected than men. The controversy surrounding the use of antidepressants such as Prozac continues to be high.

If you are suffering from anxiety, cannabis can be helpful if you take small doses. It can temporarily decrease the severity of your condition, though too much of it can cause anxiety to increase. In addition to acting as an antidepressant, cannabis can help regulate the body’s fight-or-flight response.

Pain

Cannabis can also help women who are suffering from chronic conditions. For instance, around 1 in 10 women in Australia who suffer from endometriosis use cannabis to treat their condition. They tried various methods to manage their pain, such as yoga, heat packs, and dietary changes. Several countries, such as the United Kingdom, Canada, and Australia, have legalized the use of cannabis to help with these conditions.

Menstrual Help

Although there is not a lot of research on the use of cannabis for menstrual symptoms, many women are using it to relieve pain associated with menstruation. According to studies, cannabis can also help with nausea and stomach cramps.

Premenstrual syndrome is a type of discomfort that can vary from mild to severe. It can affect a person’s mental and physical health. In addition to being able to relieve pain, cannabis can also improve a person’s mental wellbeing.

Conclusion

There are a variety of reasons why women should try cannabis. However, research has shown that the correct dosage is crucial to reap the full benefits of this substance. According to the evidence, too much of it can reverse the effects of the drug. If you are planning on using cannabis, it’s essential to limit the amount of it that you consume.

How Dispensaries Are Building Brand Loyalty

More than ever, cannabis retailers must work hard to maintain loyal customers. However, how can dispensaries improve customer engagement while attracting more people to their brand? Here are some ways to boost brand loyalty.

Loyalty and rewards programs

One way brands are encouraging return customers is by offering a loyalty program that offers….

Read Full Article Here: How Dispensaries Are Building Brand Loyalty

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