Businesses of all sizes are getting ready for the new wave of legalization. Canada is sorting out how they wish to approach the public expectations. Meanwhile, cannabis businesses in the US are running their test programs to determine the possible success of their edibles. Illegal Burger is well past the startup phase, as last year recorded over $3 million in annual sales.
North American cannabis scene is bustling with activity. Businesses of all sizes are getting ready for the new wave of legalization. Canada is at its busiest – next month different sorts of edibles will become legal, carving up a new market. Are the consumables the true future of cannabis?
The power of novelty is a strong marketing tool. People are likely to reach out towards new concepts just for the thrill of experiencing something new. The situation with cannabis edibles is no different, though other reasons exist too.
Consumers are drawn towards cannabis edibles. That’s because they promise to deliver the medicinal or recreational effects without inhaling the harmful substances along with the smoke. This makes cannabis edibles an interesting way for non-smokers to catch a glimpse of the marijuana culture. Moreover, they can evaluate for themselves, is the high worth the hype.
Can’t go wrong with Canopy
Mark Zekulin, who has recently taken the place of Bruce Linton as Canopy Growth (CGC) CEO, seconds that idea, as he sees significant potential in the new stage of legalization. Now it’s the time for the head of the biggest cannabis stock on the market to get his company ready for the new chapter. Because consumables are about to hit shelves and the firm is looking for a new CEO after Linton has been handed papers two months ago.
„We have over 50 different products in the pipeline that we’re developing. From chocolates to vape pens to, of course, beverages,” said Mark Zekulin during an interview with BNN Bloomberg recently. Canopy Growth Corporation is putting considerable attention to the edibles sector. Because last year they have struck a whopping $4 billion deal with Constellation Brands (STZ). The beverage giant aims to offset the declining sales of alcohol beverages by extending its offer with cannabis-infused drinks.
Currently, Constellation Brands is expected to book a $132.5 million loss over the past six months. That loss is directly related to their almost all-cash investment in Canopy Growth. The odds should change soon as marijuana consumables are about to become legal in Canada this October. Zekulin is open about his excitement on the partnership with Constellation Brands. He expects the new line of products to hit the shelves as fast as late December.
“This is an exciting proposition and it’s a combination of our own cannabis intellectual property with the know-how from Constellation on building a bottling plant and market segmentation,” comments Canopy’s CEO and adds that: “It’s going to be great to bring that to market and to bring that to consumers.”
Go digital or die hard
Edibles are just a fraction of the extensive cannabis market. Pre-rolls, vaporizer cartridges, and dry flowers are just some of the other sought-after products by pot enthusiasts. Brick-and-mortar dispensaries offer a wide selection of cannabis merchandise. But because of their limited reach and the scrutiny still shrouding the industry, some people prefer to go shopping for their favorites online.
This trend hasn’t gone unnoticed by Canopy Growth. The company is progressively increasing the spectrum of their offer over the Internet. “We need to see more stores come online and we need to see the value-add ‘Cannabis 2.0’ products come in,” said Mark Zekulin. Online cannabis shopping is becoming increasingly popular. As a result, those who won’t embrace the opportunity will be simply missing out. Because 76% of consumers are doing their shopping on the web.
Illegal burgers, legal hemp
Canada is sorting out how they wish to approach the public expectations. Meanwhile, cannabis businesses in the United States are running their test programs to determine the possible success of their edibles. FDA lifts its ban on marijuana consumables.
One such business is West Coast Ventures Group Corp (WCVC) which operates a chain of Illegal Burger fast-casual restaurants. The only thing illegal about their activity is their name. The company is proud to serve its customers with premium-class food, spiced with the proprietary CBD sauce. Due to their attention to quality products and innovative capacity, Illegal Burger has been named a „Rising Star in Healthy Holistic Restaurant Trend.”
Illegal Burger is well past the startup phase, as last year it has recorded over $3 million in annual sales. Moreover, the company keeps on expanding dynamically. Apart from including CBD-infused water in their offer, the restaurant chain keeps on expanding to new locations. It opens up a new Illegal Pizza joint, which is taking all the best from the burger experience and transposes it onto another tasty dimension.
The strategic position of West Coast Ventures Group Corp derives from the fact that they are targeting two sectors that Mark Zekulin has mentioned.
They are developing an extensive network of restaurants, with a menu ready for inclusion of CBD. Furthermore, the company has recently introduced web-based purchases. It allows their clients to shop for CBD-infused water of CBD concentrate sachets that can be easily mixed with any meal at any time.
That makes the strategy of Illegal Burger well adjusted for the upcoming trends, as it follows the same principles as those devised by Canopy Growth Corporation. By targeting the intersection of the CBD-sector with casual dining, West Coast Ventures Group Corp are sure to experience positive uplift once cannabis edibles become legal in the United States. And that is quite likely to happen soon.
(Featured Image by RachelScottYoga )
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