The past few weeks have been interesting ones on the cannabis front. And perhaps these weeks foreshadow things to come as the world adjusts to life post-COVID.
Some of the cannabis world disparate events, when looked at collectively, may speak to the significant social and economic change afoot.
Take a look at these three:
1. California Invests in Cannabis Industry
California is looking to inject $100 million into the legal cannabis industry. In a sector that just a few years ago was illegal, to have government economic development dollars now flow in freely, is quite stunning. Begging the question: Will governments start to (finally!) view the cannabis industry as a vital part of economic development and post-COVID economic development?
2. BC to Allow Private Cannabis Delivery
BC will allow for private cannabis delivery starting next month. While nearly all the Provincial cannabis bodies held tight to the e-commerce and delivery monopolies they started out with, Provinces are now realizing that taking on the legacy market mandates private enterprise be allowed to compete. Enter private cannabis retail delivery in BC. And it isn’t just BC, as of today, Ontario private retailers still have COVID-era delivery options open. All of this will likely accelerate the trend we talked about a few months back: consumers preferring to buy from private retailers rather than Provincial monopolies.
3. Using Cannabis to Promote Pro-Social Behaviour
While some States and Provinces are turning to lottery-style cash give-aways to attract people to get vaccinated, cannabis operators in both Washington State and Manitoba are using cannabis in order to coax vaccine-hesitant people to get vaccinated. When regulators bless distribution of cannabis to drive pro-social behavoir, you know cannabis has truly arrived.
These are three disparate data points that we believe point to the normalization and acceptance of cannabis. The sooner that happens – the better for consumers and the better for the industry overall. Amen to that.
