Marijuana Business News

Synonyms: 
stocks
business
Thu
14
Jan

Are Barrier Bags the Future of Cannabis Packaging?

As the cannabis industry expands into the rest of the U.S. market, traditional manufacturers and other businesses are getting involved. For manufacturers, there is an opening for logistical, quality, and production help. Whether it’s in healthcare or packaging, outside industry is now applying traditional business methods to cannabis to further legitimize its place in the contemporary market.

Recently, Cannabis & Tech Today sat down with Roger Throckmorton, Chief Brand Officer at International Plastics in Greenville, SC, to discuss better packaging options for the cannabis industry and why the “barrier bag” is key.

Thu
14
Jan

Cannabis NB posts $19.3M sales, but still no word on its fate as Crown operation

Cannabis NB has reported sales of $19.3 million in its latest fiscal quarter, figures that land amid uncertainty about its future as a Crown operation. 

The figures push sales for the last 52 weeks to $72.7 million – a 79 per cent increase over 2019 – and position the agency to end the fiscal year in "a strong position," Cannabis NB's acting president and CEO Lori Stickles said.

 

Although the quarterly results are not audited, Stickles says the agency earned a net profit of $2.8 million during the final 13 weeks of 2020 and expects to return $10 million to the province by the end of the fiscal year in late March.

Thu
14
Jan

Aphria's Canadian pot sales rise in Q2 despite escalating costs

Aphria Inc. reported better-than-expected second-quarter results Thursday as the pot giant’s sales continued to grow in the competitive Canadian cannabis market. 

The Leamington, Ont.-based company said it made $160.5 million in revenue, a 33-per-cent increase from the same period a year earlier. The company also posted $12.6 million in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), marking a sizeable increase from the $1.9 million reported last year. 

Aphria reported a net loss of $120.6 million in the second quarter, which it attributed to rising general costs, an increase in share-based compensation, as well as expenses related to its acquisition of U.S. craft brewer Sweetwater Brewing Co. in November. 

Wed
13
Jan

How Virtual Events Changed the Face of Networking

This year, 49% of B2B marketers are replacing live events with webinars in response to the pandemic, according to data analytics company Statista.

It’s not a pivot that’s been easy to do.

Most event planners are focused on customer experience, lining up all-star speakers, and hosting in the best possible location for their demographics.

If one had to choose between attending a conference in Burlington, Vermont or Las Vegas, Nevada, most would be inclined to choose Las Vegas because of it’s relatively centralized geographic location, affordable air fares, and abundance of after-hour activities.

Wed
13
Jan

Cannabis Sales Hit $427 Million During The Holidays

A consumer poll conducted by vertically integrated cannabis and hemp company Glass House Group, prior to the holidays found that a significant number of customers planned on giving the gift of cannabis. With more than 630 respondents citing flower, edibles, and pre-rolls as top choices for their holiday gifts, results suggested that cannabis gifting was among Christmas 2020’s hottest consumer trends. This pointed to the mainstreaming of cannabis and it turns out the polls were true.

Wed
13
Jan

What Will 2021 Bring for the Global Cannabis Industry?

The year 2020 was a dud in many, many ways due to the pandemic. However, it was a record year for the emerging cannabis industry. Cannabis entrepreneurs around the globe sold a record amount of cannabis and cannabis-infused products.

Unfortunately, no countries legalized cannabis for adult use in 2020, but a number of countries either allowed medical cannabis industries to launch or expand. Many cannabis industry projections from years ago focused on the year 2020 and virtually every one of those projections proved to be too conservative.

So what does 2021 have in store for the emerging cannabis industry? Ultimately, only time will tell. Below are some things to consider.

Tue
12
Jan

Regulators play 'Whac-A-Mole' as Vancouver's illegal pot shops flourish

When Harrison Stoker notices a big spike in daily sales volume at one of the 20 Dutch Love cannabis shops he oversees, he invariably gets the same explanation when he queries store staff: There was a raid that day at the illegal pot shop nearby.

At Dutch Love’s Kitsilano location, for example, Stoker has noticed daily sales nearly double on days when there’s enforcement action at Canna Clinic, the long-running unlicensed pot shop on the next block.

Tue
12
Jan

Inside story of how this Toronto pot shop is competing with big retailers

Although Axes Smoke Cannabis opened its doors in June last year, the start was far from expected.

The Toronto-based store resembled closer to a Service Ontario as opposed to a dispensary. “Management had to encourage the owner to rebrand as soon as possible, otherwise, we would have been smoked out by the competition,” notes Tatiana in an email. “We hired a marketing and creative branding company to help make Axes Smoke more inviting for customers and immediately the interior of the store was transformed!”

Tue
12
Jan

4 Bold Predictions for the Hemp Industry in 2021

This coming year will bring major consumer-driven shifts to the hemp industry. Experts estimate that the CBD market is set to reach $18 billion by 2025 and include CBD for all uses, including topical, pet products, pharmaceuticals, and nutraceuticals. 

Here are some industry trend predictions I have for 2021: 

Tue
12
Jan

Will Cannabis Tourism Lead the Way to Economic Recovery?

The events of recent months – which, at no risk of ambiguity, will not be discussed here – have created something of a roadblock for nearly every industry that was, just twelve months ago, thriving in the global marketplace. 

Not least among those industries is the world of travel and tourism which, on both a local, national and international level, has ground to a halt for nigh-on twelve months. 

There are plenty of ideas swirling about the best ways to restart the world of travel when circumstances allow, and forecasts for how that side of life will have changed for good. The notion of harnessing the new freedom surrounding marijuana usage holds plenty of potential for the industry, and offers an exciting new normal for millions of people. Read more below. 

Pages

Subscribe to RSS - Marijuana Business News