Questions Anthropologists Should Ask When Buying Cannabis

Posted Posted in Women Who Inspire

Larisa Bolivar has published articles in respected publications such as the Denver Post, and in 2017, she published the Cannabis Consumers Coalition: 2017 report on Cannabis Consumer Demographics and Consumption Habits that was mentioned by Forbe’s, Entrepreneur and Investing News. A well-recognized global expert on cannabis policy, industry and business, Ms. Bolivar has been featured and quoted in multiple publications and speaks on a variety of cannabis business and advocacy topics at major conferences around the globe.

Women's Cannabis Chamber of Commerce Part I

Starting the Women’s Cannabis Chamber of Commerce Part 1

Posted 3 CommentsPosted in Uncategorized

Starting a Women’s Cannabis Chamber of Commerce or being involved in way with the emerging cannabis industry had never entered my mind.  It was a beautiful spring morning in Evergreen. I was meeting with another member of the Evergreen Chamber’s Ambassador Committee. I owned a social media marketing company and morning coffee meetings were common.

He leaned in and whispered softly, “I have this friend and he needs someone to do marketing stuff”. In my mind I had already begun to speculate and react. His behavior was overly secretive, “oh, my God, he’s into porn and I’m going to freak out in the local coffee house.”

“Ah, he’s opening a medical marijuana dispensary and ah would you meet with him?”

In my mind my response was “Oh, f#*k No!”

I’m old enough to be able look back at all the crossroads in my life and how my choices played out. Intuitively I recognized this as a crossroads. I excused myself and went to the rest room.

In 2011 getting into a cannabis related business or being an activist for medical marijuana and legal reforms did not capture my interest.

At 61 I had settled into a comfortable lifestyle in the foothills outside of Denver. Up until the early 90’s my relationship with marijuana (no one called it cannabis) had been more than just smoking. People I knew were going to prison. We couldn’t visit or write them because it would put us under scrutiny. They became ghosts, their absence from my life haunted me. Living with the daily fear of going to prison and losing my business and home was not worth it.

I had followed the progress of medical marijuana since the passage of Amendment 20 in 2000. I watched the news stories about the first dispensary, Colorado Compassion Club, opening in 2004. And, the news stories about it being raided that same year.

There were sensationalized stories about the 2007 murder of  Ken Gorman, a Colorado marijuana activist, and founder of the 420Rally. I was certain the medical marijuana movement had no future.

My knowledge of marijuana as a medicine was nonexistent. I needed to do some research. I refilled my coffee, went home and began researching medical marijuana. I was literally shocked by the research especially Dr. Grinspoon’s. He began studying marijuana in 1967, with the intention of defining scientifically the nature and degree of the dangers of marijuana use. As Dr. Grinspoon reviewed the existing research and literature he concluded that the general public had been misinformed and misled.

I poured over medical journals and obscured research papers some dating back centuries. Why didn’t I know about the healing qualities of cannabis? I had always been into herbs and natural alternatives to pharmaceuticals. So, this was what the “patients” protesting for access to medical marijuana knew. This was the education that Colorado Consumption Club was providing. My ignorance was overwhelming.

To further my research into what was emerging as the business of cannabis, I created a facebook profile as MySweet Jane. I immediately received friend requests – all from men. Where were the women?

The way cannabis businesses and consumers were using social media to connect and market was brilliant. I had been conducting social media workshops for small businesses and was frustrated that few of those in attendance comprehended the power of social media marketing. The cannabis industry and consumer was changing how marketing was done.

It was sunrise and I had been researching all night. It was too late and too much coffee to go to bed. I needed more information. I drove down the mountain to the nearest dispensary. I had a list of questions, including “are there a lot of women working in medical marijuana dispensaries?”

I rang the bell. The darkened window behind the bars opened. A young woman asked if she could help me. I awkwardly tried to explain why I was there.

Two days later I was the first person in line at the Cannabis Cup.

open a cbd company

Why You Should Open A CBD Company

Posted 2 CommentsPosted in CBD

You should open a cbd company because it is a once in a lifetime opportunity to in on the beginning of a new and rapidly growing market. Food and beverage products containing CBD were introduced to the consumer in the United States in 2017. 

CBD retail sales for 2017 were $358.4 million, $512.7 million for 2018. 

Bloomberg Businessweek: Researchers estimate the market for CBD in the U.S. alone could be worth almost $24 billion by 2023. In Canada sales of legal cannabis may reach $4.7 billion by that time, up from about $570 million last year, according to BDS Analytics. Annual sales of CBD could potentially be larger than those of marijuana, analysts say, because of the large number of products in which it can be used.

National companies have begun carrying cbd products, many have or are developing their own cbd lines. 

Large chains, including Walgreens, CVS Pharmacy, Ultra Beauty, Neiman Marcus and Kroger, have announced that they plan to sell CBD creams, salves and other topical products.

Urban Outfitters, Alkaline Water Co., Heinken, and Constellations Brands have added their names to the list of companies moving into the marketplace. 

National companies are entering into the cbd marketplace based upon analysis of consumer demand and overall profitability. As an entrepreneur considering entering into the cbd marketplace this is both intimidating and reassuring. You have the benefit of big corporations’ research that confirms cbd products are profitable and the market will continue to grow. CBD and hemp based products are not a fad. 

Hemp and hemp oil are used in place of cbd to avoid advertising, labeling and shipping issues, as state regulations for cbd vary.

It is intimating that you will be competing with large corporations for your market share.

You will also be competing with THC companies that have expanded into cbd/hemp products and with established cbd companies. There are also countless smaller cbd/hemp product companies populating the internet. 

If you are thinking the marketplace is already too crowded to open a cbd company, that you couldn’t compete against the “big guys”, that there’s too much risk, that you’ve missed the opportunity, you are wrong and you are not a true entrepreneur.  You can stop reading now!

The cbd product market is currently less crowded and less competitive than real estate.

The Association of Real Estate License Law Officials estimates that there are approximately 2 million active real estate licensees in the United States (2018). According to data from the National Association of Realtors, 5.34 million existing homes were sold in 2018.  According to the U.S. Census Bureau 667,000 newly constructed homes were sold in 2018. That averages out to approximately 3 home sales per realtor.

When you analyze all existing cbd and hemp oil companies you discover an ebb and flow, with each online company that closes a new company replaces. A vital piece of information we do not have access to is the sales from these online sites.

It is not expensive to maintain an e commerce website. Sales could be low and the site continues to be active. We have all heard that it takes at least 2 years for a new business to break even. That does not apply to online cbd companies. Patiently waiting for the first two years to pass thinking your product will suddenly catch on fire is business sabotage. 

You need a Purple Cow marketing strategy. The concept of the Purple Cow was introduced by Seth Godin, “But if you drive by a heard and standing in the field is a Purple Cow you have to tell someone because it is so different. When something forces you to remark on it, by definition it is remarkable.”

To further ensure your success you need accurate and relevant knowledge of the regulations, procedures, processes, market, quality of products, and solid relationships within the industry.

How to Open a CBD Product Company and How to Open a Hemp Based Food Company are taught by company founders/CEO based in Colorado. The business courses offers the instructors’ expertise how to launch, succeed, and expand your company. The courses also include instructors who specialize in compliance, human resources, health and safety, business contracts, and marketing. 

There will be regulatory changes and new development that cannot be foreseen. Online Mentors & Members Forums can be accessed to connect with the instructors, other cbd business owners and industry leaders to answer your questions.

Providing the knowledge to set up and launch your company, and access to mentors does not guarantee your business success. As an entrepreneur, you know that success also depends on how much time (the hustle) you spend working on and in your business. 

The Women’s Cannabis Chamber of Commerce goal is to move women beyond empowerment into powerful result driven career strategies, CEO positions, and business ownership. To achieve these goals we offer business courses taught by established, successful entrepreneurs from cannabis, hemp, and cbd companies. Courses are also available for download on our website. Members & Mentors Forums are open to members. Quarterly Women Cultivating Success conferences are an educational and networking platform open to all entrepreneurs. 

How to Open a CBD CompanyHow to Open a CBD Company

Women's Cannabis Chamber of Commerce

Women’s Cannabis Chamber of Commerce creation and evolution Part II

Posted Leave a commentPosted in Cannabis Business Stories

I was the first person in line for the Cannabis Cup. There was an energy and smoke in the air. The entrance was surrounded by press, but they didn’t want to talk to me. The press was seeking out the most outlandish clad, pierced and tattooed people in line.

I overheard a couple of the interviews. The lead in question was “Why are you here?”. The answers surprised me. “I’m here to learn more about growing…new products…new strains…attend a seminar.” Not the answers the press wanted. They persisted, “Are you here to get high and party?” That question and answers made the nightly news.

Women's Cannabis Chamber of CommerceThe atmosphere was a cross between a tradeshow and a rock festival. I talked to each vendor. Although many were not seasoned business people, they were serious about the future of their companies. Their concerns were regulations, marketing and growth.

I sat in the back row for the symposiums and speakers. My heart rate quickened, I became aware of my breathing, it was as if I had discovered a life changing secret. It was the realization that cannabis as a business was going to be huge, that cannabis could heal, that cannabis could change the world in positive ways. And, most of all the emerging cannabis market was an opportunity for women to become company owners and CEOs.

Like the gold rush, this was a once in a lifetime opportunity and it was happening in my lifetime. I would be stupid not to seize this opportunity. I had no idea what my involvement or business would be.

During the drive back up the mountain, I argued with myself. How could I make a such a radical decision based on four days of research? My life was good, why get involved with a Federally illegal substance. This could go terribly wrong. Maybe I’m just high. It’s been years since I’ve smoked and there was a lot of marijuana in the air. I’ll get a good night’s sleep and everything will back to normal.

I woke up refreshed and focused.  I needed to do more research.

I didn’t realize that the only normal in my life was going to be NORML.

Three weeks later I was at the NORML Conference in Denver.

Women's Cannabis Chamber of Commerce

The Women’s Cannabis Chamber of Commerce is focused on all aspects of business. Our instructors have founded and developed businesses.

The Women’s Cannabis Chamber Chats videocast encourages guests to talk about what it took to launch their companies. The Quarterly Chamber Connect events brings business and industry leaders with presentations on relevant topics.

The blog gives women business owners a platform to write about their business journey.

Keeping with the “how to open a company” theme I am writing about how the Women’s Cannabis Chamber of Commerce began and evolved.

Women's Cannabis Chamber of Commerce

Why Compliance Audits Matter in your Licensed Cannabis Facility

Posted Leave a commentPosted in Cannabis Businesses, Women Owned Cannabis Businesses, Women Who Inspire

Why Compliance Audits Matter in your Licensed Cannabis Facility webinar is part of a monthly series on compliance.

This is an opportunity for anyone in a licensed legal State who works in, owns, or is considering starting a cannabis business. 

Topics covered in this webinar are:

*What is an Audit and Why do you need one

*Audit Types

*Third Party Audits

* How to Self Audit

* What does auditing do for your business

*How to prepare for your State Inspection

Jenny Germano is the founder of ICS Consulting Services, national speaker and is one of the instructors for the Women’s Cannabis Chamber of Commerce online business courses: 

How To Open A Dispensary

How To Open An Edibles Company

How to Open A CBD Product Company

ICS Consulting Services

Join us for our next upcoming ICS Webinar Series for June 26th 2019

@ 11 am MST.

 WWW.ICSconsultingService.Com

 

Madam C. J. Walker

Madam C. J. Walker Creating Success for Women

Posted Leave a commentPosted in Women Who Inspire

Madam C. J. Walker is my business mentor, inspiration, and motivator. Born Sarah Breedlove in 1857, she was orphaned at the age of seven. She often said, “I got my start by giving myself a start.” Sarah Breedlove went from picking cotton to changing the role of all women in business.

Struggling financially, facing hair loss, and feeling the strain of years of physical labor, Walker’s life took a dramatic turn in 1904. That year, she not only began using African American businesswoman Annie Turbo Malone’s “The Great Wonderful Hair Grower.”

In 1915 at the age of 58, she renamed herself  Madam C. J. Walker and with $1.25, launched her own line of hair products and straighteners for African American women, “Madam Walker’s Wonderful Hair Grower.” Madam C. J. Walker paved the way for Mary Kay, Avon and home parties like Tupperware. Two years later she opened a beauty school in Pittsburgh. In 1910 she opened the Madam C. J. Walker Manufacturing Company in Indianapolis,

Madam C. J. Walker created successful marketing strategies, training programs and distribution models that were considered innovative for the time.  She organized clubs and conventions for her representatives, which recognized not only successful sales, but also philanthropic and educational efforts among African Americans.

Madam C.  J. Walker was an advocate of economic independence for black women. She opened training programs in the “Walker System” for her licensed sales agents. She paid generous commission and employed over 40,000 African American women and men in the US, Central America and the Caribbean. The “Walker System” provided lucrative incomes for those whose main options were jobs as farm laborers or servants

Madam C. J. Walker founded the National Negro Cosmetics Manufacturers Association in 1917. She was an active part of the  social and political culture of the Harlem Renaissance.  Her philanthropies included educational scholarships and donations to homes for the elderly, the National Association for the Advancement of Colored People, NAACP, and the YMCA.

negotiating style

Negotiating Style Part 3

Posted Leave a commentPosted in Marijuana Businesses, Negotiation

The negotiating style of the person you are in discussions with will set the tone for contract negotiation. Pre meeting preparation will enable you to adjust your approach and strategy for each negotiating style.

The most common style of negotiator is the Competitor. The Competitor is motivated to achieve their own outcomes without concerns for the other individual’s business interests. This style of negotiator is not interested in long term relationships or business reputation. They are more interested in winning than reaching an agreement. This creates deadlocks. The Competitor is more likely to walk away from negotiations rather than make concessions. This negotiation style can sabotage a company’s growth and jeopardize business relationships.

Stay calm and focused on the terms of the agreements. Your BATNA (Best Alternative to a Negotiated Agreement) is the standard you use to determine if terms are too unfavorable to accept. Accepting a competitive negotiator demands will be interpreted as weakness and they will request more concessions. Firmly restate your position using strong language “we require” or “we need.” Do not use “we’d like” or “want” with this type of negotiator.

The Accommodator negotiating style is focused on building relationships. This negotiating style offers generous product and service concessions. Giving away value early in the negotiation leaves them with little to offer as talks continue.

The Accommodator negotiating style can lure you into reciprocation and obliging you to a larger concession. This negotiating style can also be an indication that they are an incompetent negotiator. Their generous concessions could jeopardize the viability of their company. What they are offering has no value if  their company has no value.

The Avoid negotiating style can be best described as “passive aggressive.” Avoid is used by people who dislike conflict. This behavior delays coming to a contractual agreement. The business with the greatest urgency will end up losing. Avoidance is a common tactics when sales/vendor timelines are crucial.

Do not disclose information about the urgency of your need.

Determine if the value of investing your time to bring the issue back to the table outweighs the benefit.

Set a timeline with clear expectations, details and dates.

Compromise negotiation style consists of “haggling” and “splitting the difference”, without any understanding or value creation taking place. This negotiation style involves one or both negotiations settling for less than they wanted or needed.

If you make concessions without a strong rationale, the other party may assume you will continue to make concessions.

The negotiator that starts with the more ambitious opening position is likely to win. If the other party has the more ambitious opening position, quickly bring them back to reality or counter balance with an extreme position.

Compromising style is often confused with Collaboration style negotiation. Collaboration ensures both parties’ needs or goals are met and creates mutual value.

Often referred to as ‘expanding the pie’, collaborative negotiators are willing to invest more time and energy in finding innovative solutions, feeling secure in the fact that there will be more value to share out later on.

Collaboration is Win-Win negotiating.

Quiz to determine your negotiating style.

Addison Morris has been a serial entrepreneur since 1968. Addison believes that in the politically charged, competitive cannabis, hemp, and cbd marketplace, business principles and best practices are a crucial element for success. She speaks and teaches marketing, and negotiation skills. Her goal is to move women from empowerment into power through business education, resources and connections. Addison is the founder of the Women’s Cannabis Chamber of Commerce.

Negotiation Strategy

Negotiation Strategy Part 2

Posted Leave a commentPosted in Cannabis Businesses, CBD, Hemp, Negotiation

Negotiation strategy is a learned skill. This is Part 2 of a 10 part series on the Art of Negotiating Contracts within the Cannabis, Hemp, and CBD Marketplace, published every Friday.

Negotiation strategy is developed prior to your first meeting.

Know your numbers and your bottom line. Prepare a spreadsheet to determine your lowest price point. If necessary are you comfortable with accepting the lowest price point?

Analyze the long term benefits of entering into a contract at your lowest price point.

Does the contract contain an option to renegotiate at a later date?

Is there growth potential?

Does the other company offer an opportunity for marketing exposure and market positioning for your products or services? If you are negotiating with a major chain to carry your product, consider the brand exposure this offers. How does that affect your current marketing budget?

Is your company capable of handling an increase in production or service demands?

Negotiation strategy involves more than price points. There are other aspects of the contract you can leverage, such as shipping costs and fulfillment schedules.

What concessions are you willing to make? What are the real costs of the concessions?

The first contract you receive is just that – the First.

Enter into the negotiation with your ideal contract. Be prepared with alternatives.

One strategy recommended by some negotiation trainers is to present all your alternatives in the beginning. I do not endorse this. By giving them options you have given away your power and leverage. You have eliminated negotiation and made it a Yes or No situation.

It is important to listen.

Over the course of your business life there will be situations where you are writing and presenting the contracts and situations where you will be presented contracts written by other companies.

Listen to the concerns and comments regarding the contracts. Ask questions to insure that you have clarity. Initiate your negotiation strategy.

Price point too high? Your counter offer: We would consider paying shipping to your distribution center which would offset your price by………..

Their counter offer: Price decrease, no shipping charges. Can you afford to do both – what is your bottom line?

Why is your product or service of value? 

This is the point where you justify your asking price. You will need to know how your product or service compares to your competitors. Better quality is not a complete answer.

If your products or services appear equal to your competitors, emphasize your business reputation, superior customer service, guaranteed ship dates, etc. Your brand recognition and marketing strategy can also make you more desirable than your competitor.

At this point negotiation strategy sounds relatively simple. Negotiating is basically common sense, preparation, and communication.

What can make negotiations challenging are the personalities involved, their negotiating techniques and how you adjust and adapt your approach in order to achieve a Win-Win contract.

We will cover each negotiation style and technique in upcoming segments.

Addison Morris has been a serial entrepreneur since 1968. Addison believes that in the politically charged, competitive cannabis, hemp, and cbd marketplace, business principles and best practices are a crucial element for success. She speaks and teaches marketing, and negotiation skills. Her goal is to move women from empowerment into power through business education, resources and connections. Addison is the founder of the Women’s Cannabis Chamber of Commerce.

Negotiating

Negotiating Contracts Part 1

Posted Leave a commentPosted in CBD News, Hemp

Negotiating is a learned skill. This is Part 1 of a 10 part series on the Art of Negotiating Contracts within the Cannabis, Hemp, and CBD Marketplace, published every Friday.

Businesses within the cannabis, hemp and cbd marketplace have to negotiate a variety of contracts from purchasing, processing, packaging, leases, and getting products in front of consumers. Other contract negotiations may include buying or selling a business and contracts with investors. The importance of each contract can be intimidating.

You are negotiating for your business’ success and future.

You are negotiating for the people who work for or will work for you.

You are negotiating for the friends and family who supported you in your business journey.

As the person representing your company, you share equal power with the person you are in negotiations with. You are the CEO and decision maker in your business. What you bring to the table are quality products or services, impeccable customer service, business reputation and professionalism.

Successful negotiations begin before you sit down to negotiate a contract.

Success begins with your attitude, level of confidence, preparation and negotiating skills.

Negotiating is not a battle or confrontation. It is not about one side winning at the loss of the other side.

Negotiation is a Win-Win in which each party achieves its goals within the confines of a value-creating  process.

People never plan to fail, but they often fail to plan.

Prior to the actual sit down, research the company you are negotiating with. The internet makes it easy to obtain to general information;

  • When was the company started?
  • Who are the stakeholders?
  • Who makes the decisions?
  • What are the business goals?
  • Has there been a high turnover rate in management?
  • Is the company seeking investors or for sale?
  • Are they growing and expanding?
  • Does the company have a positive reputation?

The second element of preparation defines what you are negotiating for.

  • Be clear about objectives.
  • Determine your needs.
  • Assess the needs of the other party.
  • List and rank the issues important to you
  • What concessions are you willing to make?
  • What is your minimum acceptable outcome, anticipated outcome and ideal outcome?
  • Determine your Best Alternative To a Negotiated Agreement (BATNA)

The goal is a good deal, not a bad deal.

Addison Morris has been a serial entrepreneur since 1968. Addison believes that in the politically charged, competitive cannabis, hemp, and cbd marketplace, business principles and best practices are a crucial element for success. She speaks and teaches marketing, and negotiation skills. Her goal is to move women from empowerment into power through business education, resources and connections.  

Empowerment

What Is Empowerment?

Posted Leave a commentPosted in Women's Interests

Empowerment is a familiar word. Many of us stare at empowering quotes on our mirrors or frig every morning. We post empowering memes to facebook and write empowering affirmations  in journals. We stream empowering podcasts and videos, attend workshops and seminars. We are quick to offer words of empowerment to friends struggling with a bad work situation.

We Are Empowered!

But what does that actually mean? You can’t take empowerment to the bank or pay the bills with it. Does empowerment result in a better career or promotions or produce success? Is the result of empowerment power?

The Oxford English Dictionary defines empowerment as:  Authority or power given to someone to do something. The process of becoming stronger and more confident, especially in controlling one’s life and claiming one’s rights.

Merriam Webster definition is: the state of being empowered to do something :  the granting of the power, right, or authority to perform various acts or duties.

To be empowered do we need to first be in a position of disempowerment?

Merriam Webster defines disempowerment as: to deprive of power, authority, or influence : make weak, ineffectual, or unimportant.

Deprive of power, authority, or influence. There is no freedom in those words. They are cold and cruel. Make weak, ineffectual, or unimportant. The words of emotional and physical abuse. There is no respect any of the words. So, does empowerment give us power, authority, or influence? Does empowerment make us strong, effectual, and important?

Power is controlling and benefiting from our resources, assets, income and time. Power is the ability to manage risk and improve our economic and personal well being. Power is having a voice.

Empowerment is a process not a solution. To move from empowerment into power, actions must be taken.

Replace the quotes on your mirror and frig with your goals and a “to do list” of the steps you think you need to accomplish your goals. Develop a timeline, and develop the discipline to adhere to it.

Seek out associations and groups of like minded people for support, information and resources. Our greatest resource is the people we meet. They can provide valuable advice based upon their business experiences or a fresh way of looking at a concept. The next person you meet may own a product or service that is beneficial to your business. Networking is about forming business relationships and commoradiere

As women we’ve been empowered long enough it’s. It’s time to focus the self confidence and courage of empowerment into action. Be the Power in your own life!

Press

How To Prepare for Press Coverage

Posted Leave a commentPosted in Marketing

Where’s the Press? Your logo and branding is impeccable, your packaging is beautiful and your product or service is of the highest quality, but the press isn’t emailing you. Press has the ability to make you stand out from your competitors and bring national recognition. Coverage is a public relations tactic that ignites social media efforts organically.

Position your press. It is human nature to want to feel “in the know,” and the press is no different. What are they currently covering in your market? Is there a way to ride the wave of existing coverage on a certain niche or topic? Be strategic. Look at your target market. Where and how are they obtaining their information? What blogs and articles are they reading? Who do they consider influencers?  This is an excellent outreach list to consider when deciding where to spend your time and effort.     

What are other industries impacted by your service or product? For example, are you a cannabis packaging company? Are you creating strategies for the cannabis market AND the packaging industry? Let’s say you design an incredible edibles Easter basket. You need to reach beyond the edibles market. Are you reaching out to florists? Culinary press? Sending non-infused versions of your basket to press in non-legal states? Get creative in your outreach avenues.

Create a story.  The press is bombarded with people who believe their product is worthy of coverage, so it’s critical you think like an editor and decide to be coverage-worthy. While the press may not necessarily be interested in covering your new product launch, perhaps there is a story related to your product that IS press worthy. Did your product have a life-changing impact on a customer? THAT is press-worthy. Be authentic in your passion for the impact your company is having on the industry. Passion is infectious and can motivate coverage from the press.

Make It Easy  Do you have your style guide ready for the media to pick up the information they need to cover you?  Are you accessible to them? Do you have incredible photographs of your product ready?  The easier you make it on people to find you and find the information they need to cover you, the more likely you are to be covered.

DON’T allow uninteresting people to represent your product in interviews.  Have an interview coming up?  Prep. Know your product, your target market, and your goals.  Be charismatic. People buy into the people behind a product just as much as the product itself.

Commanding excitement for your product or service and understanding how and why people choose to follow certain campaigns and companies can be intimidating.  It’s essential you think about how and why your story is worthy of coverage and manifest your efforts around that belief.  You have the power to design your story and share it with your audience. Make yourself memorable.

Reposted from Granjaprenuer Original Article By Doreen Sullivan

arcview

Arcview Market Research Predicts Cannabis Sales of $57 Billion by 2027

Posted Leave a commentPosted in Marijuana and the Ecomony

According to Arcview Market Research and its research partner BDS Analytics, over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2027. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%.

The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. The largest growth spread, however, is predicted within the rest-of-world markets, from $52 million spent in 2017 to a projected $2.5 billion in 2027.

Reposted article from Forbes.com original article by , Forbes 

The worldwide adult recreational cannabis market remains hampered by the United Nations and its 1961 Single Convention on Narcotic Drugs. The Arcview and BDS report believes nothing will be done to change the U.N. attitude until U.S. federal laws legalize marijuana — something Arcview’s CEO, Troy Dayton, believes will happen after the 2020 presidential election.

Still, the main difference between the U.S. and European cannabis markets is that in the U.S., recreational use will dominate sales. With a budget of $1.3 trillion in health care spending, European government-subsidized health care systems will bring the medical cannabis market to dominate Europe and become the largest medical marijuana market in the world.

Tom Adams, editor-in-chief at Arcview Market Research and principal analyst at BDS Analytics, points out that the big news in 2017 was Germany opening up cannabis for medical use in pharmacies. He celebrates a big and constant turnaround in the worldwide cannabis market ahead.

Highlights of the 65-page report “The Road Map to a $57 Billion Worldwide Market” include:

 The initial decision by many U.S. states and Canada to create medical-only cannabis regulations prompted many other countries to act similarly. But California’s and Canada’s willingness to legalize adult recreational use triggered a second wave of laws internationally to increase access to medical cannabis.

 South America has some of the most liberal medical cannabis programs. Led by Brazil, Argentina, Peru and Uruguay (the only country in the world in which adult recreational use is legal for all its citizens), the South American medical cannabis market may grow from $125 million in 2018 to $776 million in 2027.

 Germany is poised to be the leader of the European cannabis market, and Italy is expected to be second with $1.2 billion in sales by 2027. Overall, however, the European cannabis market is not expected to grow as stridently as its potential suggests.

 Australia’s legal cannabis market is forecast to grow from $52 million in 2018 to $1.2 billion in 2027, the 5th largest in the world.

 Israel has a small population and a long history of legal medical marijuana use. It continues as a leader with years in the development of cannabis pharmaceuticals.

 Canada is among the few countries where investors have already shown confidence in the future legality of the cannabis industry; they are betting with billions of dollars pouring into public equity investments.

Cannabis Crossover Report Examines Cannabis Consumers Buying Trends

Posted Leave a commentPosted in Marijuana Marketing

Media and Headset today revealed the results of its Cannabis Crossover report, a study that examines the consumption habits of cannabis consumers, including their brand loyalty and product discovery through content.

Reposted from Newswire

The data is culled from $1.5 billion in transactions from the states where cannabis is legal including Washington, Arizona, California, Colorado, Washington D.C., Illinois, Nevada, Oregon and Michigan. The Cannabis Crossover report reveals that while consumers gravitate to cannabis lifestyle content to some degree, food content in which cannabis products are featured is far more likely to drive female viewers to dispensaries, while male viewers are driven by lifestyle culture content.

Drake Sutton-Shearer, Co-Founder of PRØHBTD Media said, “It’s clear that consumers are discovering cannabis brands through online. The most interesting point of validation is that across the spectrum, people who embrace these brands of today and tomorrow are not just like us, they are us.”

Cannabis Crossover Report other findings include:

– Over half (54.38%) of the cannabis products consumed are flowers (bud) with little variation across gender and age lines, followed by package pre-roll joints (15.67%) and concentrates (12.29%) and edibles (8.03%).

– The average category growth is 164% with the biggest advances seen with capsules (331%), and concentrates (oil, wax) and package pre-roll joints have more than 200% growth.

– More than 800 new cannabis brands have been introduced to the market in the last three years with almost 65,000 products.

– There are early signs of a consolidation of brands with new brand introductions slowing down due to retail space constraints.

– The average item price has decreased by slightly more than $18 since January 2015; with a steady decline in average item price due to lower priced items, such as pre-rolls, becoming more popular.

The report follows last Monday’s “Cannabis Crossover” seminar at Advertising Week in NYC where PRØHBTD Media, the leading cannabis-lifestyle media platform and content studio, was joined by the report’s co-authors Headset, the leading retail analytics firm for cannabis-related businesses and David Bell, Professor of Marketing at The Wharton School. Together, they discussed how marketers can reach the mainstream cannabis consumer by employing brand safe methods.

“As the cannabis industry continues to mature, so too does the purchasing patterns of the cannabis consumer,” said Cy Scott, Co-Founder and CEO of Headset, Inc. “Incorporating market trend analysis through the lens of transaction and related demographic data illustrates a complex, emerging market with enormous opportunity.”

Bell said, “The ‘post-normalization’ of cannabis and cannabis culture is in full swing. The demographic skews younger, yet covers all groups; ‘Cannabis Consumers’ exhibit a diversity of tastes and preferences, and an affinity for brands and authentic content, just as they do in other walks of life and commerce.”

The full report is available to download at www.prohbtd.com/CannabisMainstream

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