LOOKING NORTH
US cannabis looks to Canada’s saturated market for growth opportunities
Even though Canada’s cannabis market is vastly oversupplied, some US cannabis companies are eyeing growth opportunities north of the border, reports MJBizDaily.
Some examples:
- California-based tech company Blaze acquired Vancouver’s point-of-sale system Greenline
- California-based edibles company Kiva has partnered with Montreal’s Greentone to get its products into Canadian retailers
- Hall of Flowers is bringing its conference and trade show to Canada in mid-September
“This is the new state of the union for the industry – having partners, collaborating and spreading out your capital a little bit,” said Paul Weaver, head of cannabis at Boston Beer Co., which has plans to produce THC-infused teas in Canada. “The entire industry is embracing a more horizontal approach.”
Enjoy Cannabis Daily each morning at 7 a.m.
TRAIN YOUR ‘TENDERS
Headset goes deep on cannabis retail’s high turnover rate
High turnover is common in all retail, but it’s particularly high among budtenders in cannabis retail, according to Headset’s latest report.
Key insights
- In the US and Canada, about 55% of budtenders leave within 12 months
- In Canada, 32.5% of budtenders were hired and left within 12 months
- Illinois has better-than-average retention rates
- Colorado and Oregon have lower-than-average retention rates
- In the US and Canada, nearly 25% of all budtenders don’t make it one full month
The best-performing budtenders tend to stay, however, meaning that with improved training and onboarding, newly hired staff could be more successful—and could stick around for longer.
MARY BILES
Will Europe heed the call for a patient-centred medical cannabis industry?
Despite the many calls for a patient-centred medical cannabis industry at Cannabis Europa 2022, Mary Biles, author of the CBD Book, writes that she isn’t convinced it will come to fruition, per BusinessCann.
According to Biles:
- Patients, or parents of paediatric patients, have fought hardest for legal reform
- They form advocacy groups to help others access medical cannabis
- Patients are rarely consulted by the industry or asked to contribute data or insight without compensation
- Patients also are expected to stop purchasing from illicit sources even when service/products aren’t as reliable in the regulated market
The patient “needs to be front and centre in your business model. It is sometimes described as a luxury to be able to roll out an R&D programme before you’re profitable or are trying to complete a funding round, but it’s not a luxury, it’s a must-have,” said Chilam CEO and co-founder Monique Ellis at the conference. “You need to invest in it, it needs to be a core dimension to the business plan and you need to make those budget considerations.”
