Weed Pollen: What’s It Used For?

Despite being one of the fastest-growing industries, cannabis stocks have shown a lot of market volatility recently. Somewhat surprisingly, earnings in the cannabis sector have declined for the past several months. However, investors are keeping an eye on marijuana penny stocks. The Appeal of Cannabis Penny Stocks Penny stocks are stocks that trade under the $5 mark and are subject to significant price fluctuation. Currently, marijuana penny stocks frequently trade under the $1 range. These lower price points allow investors to leverage a larger position with less capital. As such, they are desirable as short-term stock purchases and popular with day traders and swing traders. After a first quarter with significant upside, marijuana penny stocks have gone through several months of pullbacks and consolidation. Some cannabis penny stocks could be primed for gains. If you’re planning to invest, do your research. Many investors and analysts anticipate an upswing for marijuana stocks as the prospect of federal cannabis reform and marijuana legalization seems more and more likely. Ancillary cannabis supplies such as smell-proof jars have also seen an uptick in sales. Changes on the federal level could likely serve as a launching point for top marijuana penny stocks in 2021. With this in mind, we can research some cannabis stocks to add to your watchlist in August. Top Marijuana Penny Stocks To Watch In August There are two marijuana penny stocks that should be at the top of every investor’s watchlist: Fire & Flower Holdings Corp. (OTC:FFLWF) and MedMen Enterprises Inc. (OTC:MMNFF) Fire & Flower Holdings Corp. is a leading adult-use cannabis retailer with more than 85 corporate-owned stores. Fire & Flower recently entered into a strategic licensing partnership with American Acres giving them entry into the California, Arizona, and Nevada cannabis markets. In the past month, the stock is down 11.99% and has a 52-week range of $0.70-$1.20. According to analysts at Tip Ranks, FFLWF stock has a 12-month price target of $1.60 per share –an increase of 113.33% from its last trading price of $0.75. FFLWF stock could be a top cannabis penny stock to add to your list over the weekend. MedMen Enterprises Inc. is a cannabis retailer with an extensive selection of high-quality products and locations in California, Nevada, Illinois, and Florida. On July 30th, MMNFF stock closed at $0.2524 up 94.29% year to date and has gained 7.28% in the past five trading days. Analysts at Wallet investor project MMNFF stock has a 1-year forecast price of $0.37 per share making it another cannabis penny stock to watch this month.

Published: Aug 02, 2021

Ask Us

Using Your Medical Marijuana Card In A Different State: Is It Possible?

Access to medical cannabis is growing. It’s a beautiful thing to see for patients who suffer from various ailments and conditions but the problem with legalization is that it’s all being done on a state-by-state basis. This means that if you’re a medical patient in one state, that permit may or may not be of use in another state. We do know that it’s illegal to cross state lines with cannabis but how effective is holding a medical permit in gaining access to medicine in different states? Some states do allow medical cannabis cardholders, regardless of their home state, to purchase cannabis. Overall, it’s a bit of an iffy question in the current climate of legalization that depends on the state and whether they adhere to medical cannabis reciprocity rules. Medical cannabis reciprocity is the solution for patients to carry and use cannabis outside of their state without facing repercussions. The rules on purchasing cannabis differentiate by each state but this program ultimately opens the doors for patients to be able to access the same quality of medicine, even when they are not in their own state. Per Cannabis Doctors Of New York, there are roughly 16 states and territories that allow for medical cannabis reciprocity. Among those are Arizona, Arkansas, California, Hawaii, Michigan, Nevada, Maryland, and more. For states that have markets available for recreational cannabis, the hassles to access cannabis are minimal. Before you head to another state, it’s necessary to do your proper research to find out the laws surrounding cannabis. If there is a medical reciprocity program, have your proper documentation with you at all times and make sure you research whether or not it’s necessary to apply for a temporary medical card in another state before heading there. Until the federal government decides to officially legalize cannabis, there will be some hurdles for medical marijuana patients to access their medicine when traveling within the country. However, as long as you stay up to date on the rules and follow them carefully, you should be able to plan a trip without worrying about limited access to your medication.

Published: Sep 27, 2021

Equality

The Hurdles Facing Medical Marijuana Patients: Priced Out By The High Cost Of ID Cards & Medicine

Some 37 states and the District of Columbia have moved to legalize marijuana for medical use in the last decade. But legal doesn’t mean affordable. In addition to the cost of the marijuana itself, patients are required to have a state-issued medical marijuana card. First, they need to qualify for the card, then they have to pay for it. Costs for the card vary from state to state. New Mexico issues its cards free of charge. Some states charge less than $50. And in several others, the cards cost between $50 and $100. But in three states – Minnesota, Arizona and Oregon – it costs at least $150. Michigan Considers Reducing Cost of Registering for Medical Marijuana Program. https://t.co/Q83wCPgban pic.twitter.com/AbxSLa4dWH— High Times (@HIGH_TIMES_Mag) February 17, 2019 “I would say affordability is the number one barrier to access,” said Debbie Churgai, executive director of Americans for Safe Access, a Washington D.C.-based organization that advocates for safe and legal access to medical marijuana. “Even if the fee is as low as $25, at the end of the day patients are still paying for medicine that is really, really expensive.” Also, the cards must be renewed and paid for annually. No other form of medicine requires patients to pay an annual fee before they can obtain it. “There is a cost to administer a state medical cannabis program that has to be borne by someone,” said Maren Schroeder, policy director of Sensible Change Minnesota, a group dedicated to expanding access for medical marijuana patients in the state. “If it’s not a patient registration fee or a tax, it’s going to be an increased price of the product. Anyway you put it, the patients are going to pay for it.” After qualifying for and then paying yearly for a card, the patient must still pay out of pocket for the cannabis products themselves. Prices can range from an ounce of medical marijuana in New Jersey costing up to $500 compared to an ounce in Michigan costing about $265. The cost of medical marijuana also faces rising costs when it comes to packaging. Items such as tincture bottles and RX bottles are getting more expensive for companies to purchase. A 2018 survey by Americans for Safe Access, found that more than 25 percent of the respondents go without treatment because they cannot afford medical marijuana in their states. The respondents’ average cost per month ranged from $50 to $1,500. “People have been accessing marijuana through the illicit market well before medical programs existed,” Scott Smith, spokesman for the Minnesota Medical Cannabis program, said. “Until the products are covered by insurance or the industry is well developed, including removing federal barriers that exist for the industry, price will continue to be a problem for many individuals.” High cost of medical marijuana can make opioids the cheaper, more affordable option for Massachusetts residents #MApoli https://t.co/bxZc9JKkff pic.twitter.com/KLfBkBV3OQ— The Scope (@TheScopeBoston) January 31, 2020

Published: Jul 20, 2021

Finance

New Report Predicts Growth For Cannabis Industry Plus Some Surprises

Cannabis industry data and analytics firm, Headset has released a new report forecasting the potential for the U.S. cannabis industry to reach $45.8 billion by 2025, according to the Ganjapreneur. “Despite the country’s piecemeal approach to legalization, individual states have created optimal conditions for improved scalability and sophisticated operations across distinct markets,” Cy Scott, CEO, and co-founder of Headset said in a statement. “With record levels of public and regulatory support for the regulated cannabis industry, the value of the domestic market will increase significantly over the next three years. Headset’s forecasts are based on current legalization and regulations. Despite a pandemic shutdown and “Great Resignation,” the industry appears to be on an upward trajectory as more people are purchasing mylar bags filled with cannabis. Canadian and U.S. markets are expected to grow throughout 2021 and into 2022. Significantly lower than the U.S. market’s projected $23 billion, Canadian cannabis sales should reach $4 billion this year. But, Canada’s cannabis market is expected to grow three times faster than the U.S. Cannabis flower is the most popular product category in the U.S. and Canada and accounts for the majority of total annual sales in the U.S. In the U.S., roughly $11 billion in 2021 sales with projected growth to $12 billion in 2022. But, vapor pens, edibles, and concentrates hold more market share in the U.S. than Canada. In both markets, concentrates and edibles will gain slightly larger market shares in 2022 at the expense of flower and pre-rolls The forecast predicts Florida will become the second-largest market – behind California – with more than $3 billion in total sales. Florida is a medical-only state, but in 2021, expectations are approximately $1.3 billion in sales. Despite legislative failures, Headset believes there is a 50% chance that Florida will begin adult-use sales no later than 2025. The downside is the limited number of operators in the state and the high barrier to entry. Additionally, Florida multi-state operators’ determination to protect their first-to-market advantage could slow sales growth. Currently, a medical-only state with adult-use licenses expected by 2023, New York could become third-largest with $2.86 billion in sales. Complicating New York’s growth potential, its illicit market is robust and thriving and has low adoption as a limited license state. But the potential market population is more than 15 million, and current state operators could convert quickly. Within the last ten years, growth and development have accelerated due to legalization in Colorado and Washington. Despite the Arizona market not being expected to be one of the top five cannabis markets, Headset forecasts sales to reach $2.79 billion by 2025. The state’s most recent monthly sales increased from the previous year’s $85 million up to $181 million. Both medical marijuana and adult-use are legal in Arizona. Headset also highlights Ohio as an emerging market. The state’s medical market is growing steadily and has the potential for $500 million in sales by the end of 2021. Despite stalled adult-use legalization efforts and being a limited license market, Headset predicts $1.6 billion in sales for Ohio for 2025. According to the report, “By 2025, census data is predicting that Ohio will present a massive addressable market of 8.8 billion potential adult-use consumers over 21+. The medical cannabis in Ohio seems to be bursting at the seams with demand as regulators are seeking to expand both licensing limitations as well as access for patients in the state.” New Jersey and Virginia passed cannabis reforms only last year and have yet to issue adult-use licenses. But both states will have similar populations of adults 21 and older by 2025 and are expected to reach sales of $1.6 billion and $1.3 billion, respectively. Headset anticipates “electrifying growth” in New Jersey. Regulators are working quickly to create a solid foundation for the adult-use market and capitalize on an adult population of nearly 7 million. State medical operators are eagerly awaiting the opportunity to convert their medical operations to adult use by March of 2022. As with New York, likely, operators can quickly convert to adult use. In Virginia, regulations permit adult-use sales beginning in 2024. Headset envisions a possibility for an expedited timeline. Virginia’s medical market is not as robust as New Jersey’s, but there is considerable momentum for the advancement of its cannabis market. With $144 million monthly sales, Illinois projected market of $2.5 billion in sales places it in the top five. The state benefits from being the first fully legal state in the Midwest. Illinois attracts many customers from neighboring states that have not moved as quickly toward legalizations. One of the first legal adult-use states, Colorado sales dipped to $2.1 billion, and it appears to have lost its first-to-market luster. While Michigan is forecast to reach $2.4 billion in sales, Massachusetts $1.6 billion in sales puts it squarely in the middle of the pack. More states are sure to be legalizing cannabis usage, but the next milestone would be federal legalization.

Published: Jan 10, 2022

Colorado

Colorado Cannabis Sales Hit New Record In 2020

Thanks to recreational and medical cannabis sales, Colorado hit $2.19 billion in sales in 2020, marking a new milestone in the state, according to a data report from the state’s Marijuana Enforcement Division (MED). Colorado became one of the first states to legalize recreational marijuana, and their sales continue to grow with each passing year. Most of the sales are from the recreational cannabis market. Colorado brought in $1.75 billion in adult-use marijuana sales, a 24% increase compared to 2019’s $1.41 billion. Medical marijuana did not even reach half of the sales as the recreational market, but the $442.5 million generated in 2020 helped the combined number inch towards $2.2 billion. A few factors played a role in Colorado’s extremely successful year in 2020, such as the Covid-19 pandemic. As the world faced a lockdown with nowhere to go, MED’s report indicated that the demand for retail and medical marijuana came “as household spending shifted to food, drink, and entertainment consumed at home.” This data shows similar trends to other states with legalized cannabis, such as Alaska, Oregon, and Colorado, that witnessed a spike in sales throughout the pandemic compared to the two sales years prior. Arizona is on pace to hit $1 billion in cannabis sales for 2021. Many states allowed dispensaries and retail stores to remain open as essential services throughout stay-at-home orders. Plus, this launched other methods of transactions like curbside pickup and delivery services that offered everything from flower to concentrate-filled shatter envelopes. The data from MED also includes tracking cultivation across the state. Growers, too, had an impeccable year in 2020 compared to the years prior. Much like the record-breaking sales, cultivators also reached new highs this year. Across Colorado, cultivators grew upwards of 1.24 million plants in 2020, leading to 662.3 million metric tons of cannabis products that entered retail supply. MED explained that there is also a surge in cannabis prices for recreational use. For example, the average cost of a gram in 2019 sat at $3.99 in 2019 but later increased to $4.80 in 2020. Meanwhile, the prices of medical marijuana grew by 26%, but still, it remained lower than the average cost of recreational cannabis at $3.80 in 2020. However, the prices reflect a trend beginning in 2019 when the industry established a “price floor” as “total retail outlets and production levels increased to all-time highs.” At the top of December, the Colorado Department of Revenue released the Average Market Rate, which showed an overall decrease in prices in five of the seven cannabis categories, according to a report by the Ganjapreneur. The cost of flower went down to $948 per pound while trim decreased to $354 per pound. Additionally, bud for extracts went to $345 per pound, and trim dipped to $253. Wet whole plant prices also fell to $172. Meanwhile, seeds went up to $4 per unit. Colorado will undoubtedly continue to flourish amid the green rush across the country, but on Jan. 1st, they will be enforcing new rules across the state, specifically for medical cardholders. Starting on New Year’s Day, medical patients will only be allowed to obtain 8 grams of concentrates per purchase, compared to the current laws, which permit 40 grams. Officials said this is to try and prevent cannabis patients from purchasing high-potency products, becoming a topic of discussion throughout 2020. Additionally, dispensaries and retail stores will have to provide proper warnings detailing the concerns surrounding the overconsumption of extracts.

Published: Jan 03, 2022

Health

The Future of Cannabis Treatment for Menopause

Menopause is something about 50% of the world’s population goes through, yet it is still considered a taboo subject. Due to cultural avoidance, menstruators are often taken off guard when perimenopause begins. Perimenopause refers to the years leading up to menopause, and the symptoms are often associated with menopause despite having their own category. These symptoms include hot flashes, dizzy spells, weight gain, moodiness, and more. A person is only in menopause after not having their period for twelve months. Menopause has its host of symptoms; several overlaps with perimenopause, including depression, anxiety, fatigue, insomnia, and lots more. As anyone can see, going through these natural life stages is not exactly a walk through the park. That is why it is essential to talk about these two phases and the slew of symptoms; they drastically change peoples’ moods and lives for years. If society is unwilling to discuss traits on perimenopause and menopause openly, treatments will be elusive and hard to find. However, one such company is trying to change that. Lilach Mazor Power and her partner Stef Swiergol have launched a new company called Revelry to tackle the perimenopausal and menopause stages. Mazor Power and Swiergol founded Revelry after seeing women “desperately looking for solutions for the symptoms of menopause and how many of them found relief with cannabis.” Cannabis is used to treat several – if not most – of the symptoms when they are not associated with menstruators’ aging processes, so it was a logical question as to why it was not being used to treat those symptoms in perimenopause and menopause. Mazor Power and Swiergol created a product line of THC-infused day and night capsules, as well as CBD intimacy oils to specifically address perimenopause and menopause. So what does the future look like for people experiencing the often lifestyle-inhibiting symptoms of perimenopause and menopause? Revelry is a bright spot in that future, but since Revelry is only available in Arizona, only a specific market has access to the products. One of the most important things to help menstruators access similar products is to empower more women and nonbinary-owned dispensaries. When there is empathy in a shared experience, products that target that experience are more likely to be made. Owners that have will go through, are going through, or have gone through perimenopause and menopause are far more likely to devote time and attention to products like Mazor Power and Swiergol did. Education on perimenopause/menopause and cannabis is also essential. Persons going through these natural life stages deserve to have them talked about openly and honestly. Mazor Power commented on the need for education surrounding perimenopause and menopause by saying, “We want women to know what’s coming, to feel comfortable talking about it….” They also deserve to have healthy, plant-based treatments. As Mazor Power said, “Women have lots of options when it comes to treating menopause symptoms, but the offering of credible, reliable, plant-based solutions is slim to none. We believe that the therapeutic attributes of cannabis can help women safely navigate their symptoms.” Until people can have ease of access to products such as the ones offered by Revelry, cannabis treatment might seem out of reach to many. However, people experiencing symptoms due to perimenopause or menopause and having access to cannabis can still help treat themselves. For example, if an overwhelming symptom during perimenopause is muscle aches, menstruators experiencing that can find a strain at their local dispensary to tackle that specific symptom. Until capsules like Revelry are readily available, this method could help alleviate symptoms. There is a lot of work to be done destigmatizing perimenopause, menopause, and cannabis. Mazor Power’s and Swiergol’s products are a perfect step in the direction to help people going through these changes. The cannabis industry would do well to learn and grow to support this group, and hopefully, change is in the near future. Until then, empowerment and education are the most critical measures for anyone experiencing perimenopause and menopause. In the words of Mazor Power, “We want to reframe what womanhood is and celebrate it.”

Published: Jan 20, 2022

Banking

Bank Of America Cancels Finances For DEA-Approved Researchers

Last month, Bank of America (BoA) canceled the accounts of the cannabis research firm Scottsdale Research Institute (SRI) without warning or advanced notice. “SRI conducts FDA-approved controlled trials evaluating cannabis as medicine for treating pain/PTSD in military veterans & terminally ill patients. This TRAGICALLY shuts down our research @BankofAmerica,” Dr. Sue Sisley, Scottsdale Research Institute’s President, said in a tweet. SRI is a research institute based in Scottsdale, Arizona, and studies the medical efficacy of certain psychedelics and cannabis under a license from the Drug Enforcement Administration (DEA). Earlier in the year, Scottsdale Research Institute received preliminary DEA approval to become among the first new cultivators of research-grade cannabis. In 2019, Dr. Sisley sued the DEA over its obstructions to cannabis research – specifically, the limitations of government-sourced cannabis. She has spent years challenging federal drug laws in the pursuit of expanded research. “We have a contract with DEA. We are growing cannabis for FDA clinical trials and selling it to the DEA. It’s unconscionable the way [Bank of America is] behaving — and further proof that the word ‘cannabis’ continues to be completely radioactive even though this is a 100 percent federally legal operation,” Dr. Sisley said in an interview with Marijuana Moment. Almost all cannabis institutions deal with cash, making them vulnerable to robberies. With global cannabis sales expected to double by 2025, dispensaries will feel more at ease with their finances if there are fewer hurdles to work with banking institutions. Some institutions, either anticipating inevitable federal legalization or simply seeing the potential for financial gain, are willing to invest in cannabis. While people still enjoy consuming cannabis via artsy glass pipes, cannabis-retail businesses await further legislation regarding the SAFE Banking Act. For ten years, SRI worked with Bank of America without issue. The bank provided no comment, context, or reasoning for the abrupt cancellation. Fortunately, there are banks that care about the progress of federally regulated and federally legal research and are eager to step up and support us immediately,” Dr. Sisley said via Marijuana Moment. “We will be moving our funding from Bank of America and never returning there. Our research continues without harm because other banks that care about scientific freedom were able to step up.”

Published: Dec 21, 2021

Business

Arizona Opens Its First Cannabis-Friendly 4-Star Hotel & Spa

New ownership of the Clarendon Hotel and Spa, a landmark four-star boutique hotel in Central Phoenix, announced the distinction of being Arizona’s first cannabis-friendly hotel. The announcement comes less than a year after the passage of a proposition in November 2020 that effectively legalized recreational adult use of marijuana in Arizona. “We are a cannabis-friendly hotel and have a cannabis-friendly event company that is elevating and educating the community about cannabis,” says Daron Brotherton, the VP of Operations at the hotel. The cannabis rooms are only on the west side. Guests are welcome to enjoy edibles, vapes, and (in designated areas) flower provided by a local dispensary. The Clarendon also offers a car service to a dispensary to shop for cannabis and even rent smoking pipes and bongs. In-room cannabis-infused dinners are provided by Chef Derek Upton, known as the premier Arizona cannabis chef, who has been featured on Netflix’s “Cooked with Cannabis” and Food Network’s “Chopped 420.” Guests can also register for his Elevated Under the Stars, an intimate dinner party featuring a cannabis-infused 6-course fine dining experience atop the hotel’s Skydeck. Each room will have a “scrubber” to recirculate the air. In between guests, a deeper clean is done with a more powerful cleaner. No cigarette smoking is allowed in any of the rooms.

Published: Jul 27, 2021

Business

Arizona Cannabis Sales On Pace To Surpass Colorado’s, Hitting $1 Billion In 2021

Arizona has now released new figures that show the state is on track to sell over $1 billion in cannabis this year along with collecting more than $150 million in taxes. Initially, reports had stated that Arizona was set to bring in $75 million in tax revenue from cannabis, but new reports surpassed those findings. After only a few months of being recreationally legal, Arizona is on pace to surpass cannabis legalization state pioneer, Colorado, in marijuana sales this year. Arizona is on track to sell well over $1 billion in marijuana this year, outpacing the first year of sales in Colorado. https://t.co/7EUTPU77Dd— azcentral (@azcentral) July 21, 2021 Comparatively, when Colorado had both medical and recreational cannabis legalized in 2014, it reported about $684 million in total marijuana sales, passing $ 1 billion in annual sales in 2016, its third year. Oregon launched recreational marijuana use the very next year in 2015 and it was only last year in 2020 they broke $1 billion, largely in part by Oregonians staying home due to the pandemic. Kelsie McCanna, Chief operating officer for The Flower Shop, which has three different locations in the Phoenix area and two medical dispensaries in Utah, said, “All three stores increased drastically,” pertaining to the January launch of recreational sales. She said the shops in Arizona continue to see new customers, showing the adult-use market has lots of room to grow as more people try out dispensaries. As legalization becomes more prevalent, more people are becoming open to taking a hit from the bong or joint. Analysts are expecting significantly more growth in recreational Arizona adult-use sales, with a few Wall Street analysts predicting the state would top $2 billion in annual sales after recreational sales stay consistent for a couple of years. Seeing drastic increases in marijuana sales, like in Arizona, just goes to show that cannabis legalization is something that needs to happen statewide.

Published: Jul 23, 2021

Acquisitions

Ayr Acquires Herbal Remedies Dispensaries, Expands Into Illinois

Herbal Remedies Dispensaries, an operator of two licensed retail dispensaries in Illinois, is the latest acquisition by Ayr Wellness Inc. Ayr closed the deal for approximately $30 million — $10 million in stock, $12 million in seller notes, and $8 million in cash. Ayr said it believes it is paying approximately 5x Herbal Remedies’ 2021 EBITDA. The acquisition adds approximately 50 employees to Ayr’s total headcount. “By the end of this year, AYR will have a presence in Arizona, Florida, Illinois, Massachusetts, Nevada, New Jersey, Pennsylvania, and Ohio. Each represents a high growth market with favorable dynamics for operators,” Viridian Capital Advisors analyst Jonathan deCourcey said in a report. “We continue to expect AYR to quickly develop a formidable business in each new state while building upon its leadership position in Massachusetts and Nevada.” “The team at Herbal Remedies has done a tremendous job in Quincy, building a fantastic business and a strong reputation for excellent customer service and merchandising – exactly what we at Ayr Wellness look for in a partner when entering a new market. We look forward to working with the Herbal team as we continue to build our presence in the Illinois market,” said Jonathan Sandelman, Chairman and Chief Executive Officer of Ayr Wellness. Viridian Capital Advisors analyst Jonathan deCourcey said in a report, “Illinois remains one of the top growth states in US cannabis and a market that remains very much in play for a well-run operator (or operators), like AYR, to disrupt and establish a long-term sustainable leadership position.” $AYR.A / $AYRWF acquired two additional dispensaries and a cultivation facility yesterday in NV. Today they enter IL with the acquisition of two dispensaries. #AgressiveExpansion #MSOGang https://t.co/0esIA4GfAW— March2Millions (@March2Millions) July 20, 2021 The deal is expected to close in the fourth quarter of 2021.

Published: Jul 22, 2021

Culture

Cannabis Trends To Watch in the New Year

With every new year, there are new expectations and trends in business – and the cannabis industry is no different! Every aspect of the marijuana field will fluctuate and change as the year progresses, but there are a few spaces that consumers should be primarily focused on. Let’s look at what industry leaders predict for the cannabis industry as 2022 gets into full swing concerning business, equity, and product cultivation! Retail cannabis businesses are poised to evolve in significant ways in 2022. This primarily has to do with the ramifications of COVID-19, which shows no sign of slowing down in the new year. Due to this, more and more dispensaries are offering more no-contact options. One such option is an expansion of dispensary delivery services. Drayton Howell, the CEO of Indacut, predicts that “delivery will play a big role in the way people shop this upcoming year and the trends show it. I believe operators will roll out delivery in some capacity to acclimate to the market!” Delivery trends are also driven by the lack of support many dispensaries have regarding theft and crime. Unfortunately, this trend is not predicted to improve as 2022 rumbles on. Christine De La Rosa is the co-founder and CEO of The People’s Ecosystem and believes that “…it is more practical for small operators to implement delivery rather than face the risk to their safety, their employees’ safety, and their business safety in the current climate. And, based on the actions we’ve seen from law enforcement, it does not appear that this type of danger to operators and their business will change anytime soon.” Until laws can address these crimes and protect dispensaries, expect to see a delivery boom. Another retail component that goes hand-in-hand with delivery is eCommerce. The CEO of Cova, Gary Cohen, postulates two reasons for the boom in eCommerce in the industry: “We’re seeing a move by dispensaries toward their own eCommerce sites to manage their online presence and orders. This has been fueled by two things: heightened importance of the web in driving business during COVID restrictions, and the need for a unique site experience that reinforces brand identity and leverages SEO to gain more eyeballs and click-through.” Essentially, the ability for customers to shop online is also driven mainly by COVID-19; the market cannot discount that shoppers are simply moving in a more Internet-based buying phase. One other major trend in the business and retail sector is the expansion of business models and ventures. Dispensaries are more challenged to create spaces that are unique and stand out. Fresh ideas like speakeasy-style dispensaries, more service-centric dispensaries, and hip smoke lounges are on the rise. To succeed in the cannabis marketplace, 2022 will be a year that retail spaces have to expand and think outside the box. One of the biggest trends to watch in 2022 is to see how social equity changes in the cannabis industry landscape. THC Staffing is a recruitment firm that provides qualified workers for multiple positions in the cannabis industry. The founder, Danielle Schumacher, said of equitable hiring, “Job seekers and equity advocates have been continuously raising awareness of what a diverse and inclusive industry should look like. As system-impacted people and organizations build knowledge and momentum, companies can no longer justify superficial marketing campaigns and misguided “social equity” initiatives. If companies truly want to implement fair chance hiring – intentionally recruiting and retaining people who have been most impacted by drug prohibition – they need to commit to systemic change and invest in real solutions.” She believes that in 2022, companies will be monitored closely and held accountable for failing to meet equitable hiring standards. Moving into 2022, the industry should also closely follow the state’s social equity programs. It has become more common to see states rolling out social equity programs directly tied to marijuana legalization laws, but the success of these programs is up for debate. Social equity programs in Arizona and Illinois are mired with one or multiple lawsuits; often, these programs seem lazy, and advocates argue they do not do enough to help minorities. However, the outcry for solid programs that uplift marginalized groups is growing. Consumers should definitely keep their eye on dispensaries that are part of these social equity programs. Another necessary trend to watch (especially if you are interested in going into the field – no pun intended) is the strong potential to increase working conditions and wages. Kara Bradford of Viridian Staffing (a similar recruitment company to THC Staffing) predicts, “for companies to avoid production stops or slowdown, many will likely need to either increase wages, improve working conditions, and/or company culture in order to attract talent, and avoid attrition to competitors and other industries.” One of the most fun trends to watch out for is product cultivation. Every year brings about new products, and 2022 is no exception! The rising inclusivity in THCV, CGB, and THC-A means that flower and dabs cultivated with minor cannabinoids will be on the rise. Customers should check with their local dispensaries to access any new products rolling out in 2022, whether it be bud or accessories. While new products are great, for all you classic marijuana consumers out there, B-Real of Dr. Greenthumb & Insane Brands has a prediction: “The one thing that I do see coming, that maybe other people may not see, or that may catch some people off guard, is the return of OG Kush in a big way…that famous kush balanced high, it’s just classic. I’ve seen the pendulum swing so far the other way I just think it’s gonna come back to OG Kush a bit. I think 2022 will be the year, I mean, it’s OG Kush, it’s a living legend.” 2022 may just be the year of nostalgia for timeless strains. Another trend to follow is a diversification of products for many different consumer groups. The co-founder and CEO of Medically Correct, Rick Scarpello, thinks that “companies that solve problems and create diverse brands are those that will succeed in 2022 and beyond. Serve the medical patients and connoisseurs, but also those looking for a nuanced experience.” In essence, companies that expand their consumer base by offering a large variety of products are expected to trend upwards in 2022. In 2022 some aspects of the industry will skyrocket, some will stay stagnant, and some will decline. While it remains to be seen how business, equity, and products will be affected in the new year, experts are expecting lots of shifts and waves. Whatever happens in the cannabis industry, we at The Cansumer will be sure to follow these trends and keep you informed. From all of us, Happy New Year!

Published: Jan 21, 2022