The coronavirus pandemic forced marijuana companies to be creative in getting the word out during this year’s 4/20 sales event.
With limited to no in-store sales capabilities, businesses leaned on web-based solutions, including social media, videoconferencing and email marketing to reach consumers about the unofficial April 20 cannabis holiday.
Marijuana Business Daily surveyed several cannabis businesses to find out what they have learned about marketing during the COVID-19.
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ESPN recently published a great informative article on how pro sports leagues have adapted cannabis policies in recent years.
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The coronavirus crisis could be igniting a revolution of sorts in the legal cannabis industry.
Thirty-three states across the U.S. allow for some form of sale and consumption of marijuana. And of those, more than 20 states have designated the cannabis industry as essential during the coronavirus outbreak.
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As cannabis gains legal status across North America, retailers should expect increasingly saturated markets. Staying competitive is essential.
Here are five, very doable ways cannabis retailers can differentiate themselves in a crowded market.
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Many marijuana brands have relied on in-store pop-ups and educating budtenders about their products to reach consumers.
But as cannabis customers increasingly order products online for delivery or pickup – and with the expectation that these habits will persist after the coronavirus pandemic is under control – marijuana brands should consider more direct ways to reach their audience to ensure sales stay strong, according to industry officials.
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U.S. cannabis CEOs say the chances for federal marijuana legalization will dramatically increase in the wake of the coronavirus pandemic, after several states declared dispensaries essential businesses, allowing them to remain open during stay-at-home orders aimed at halting the spread of the virus.
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Many small business, including marijuana companies, have rushed to apply for paycheck protection during the COVID-19 crisis under the federal Coronavirus Aid, Relief and Economic Security Act (CARES Act). The first-come, first-served program totals about $350 million. It provides what amounts to a free loan to small businesses to help them weather the pandemic and retain their employees.
Which begs the question: Are marijuana businesses eligible for such funding?
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Cannabis companies are entering a new normal as the coronavirus pandemic puts stress on every sector of business, fundamentally altering the industry in possibly permanent ways.
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Marijuana Business Magazine spoke with Fendrick and other industry stakeholders about how to decide whether a trade organization is right for your cannabis business.
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Just a few months ago, the cannabis industry was going through a sizeable dip. Now with consumers grappling with the coronavirus, sales are at an all-time high.
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