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Michigan temporarily allowing curbside marijuana pickup, encourages delivery
As coronavirus spreads, Michigan is now allowing curbside pickup for medical patients and recreational cannabis users alike, and California has followed suit. Many retail shops have reported lower foot traffic, but customers that do come in are ordering much larger amounts than usual and appear to be “stocking up.” Delivery has also seen a surge in sales, likely due to the increased number of telecommuters and those staying at home in response to the spread of the coronavirus.
California cannabis, amid the coronavirus siege
According to the San Francisco Department of Public Health, “Cannabis is an essential medicine for many San Francisco residents. Dispensaries can continue to operate as essential businesses during this time, while practicing social distancing and other public health recommendations.”
Our good friends at MKM Partners have written a piece this week discussing usage pattern differences between cannabis and beer. While beer is king for large social situations, cannabis is by far more popular in solitary times and equally popular with close friends.
Amid coronavirus, Canadian cannabis stores see ‘unprecedented’ sales surge
Sales surged this past weekend as consumers stocked up, giving cash-strapped retailers a sudden sharp increase in revenue everywhere from California to Canada. Recent sales potentially demonstrate that legal cannabis will ultimately prove to be recession-resistant like other consumer staples (beer, wine, spirits, etc).
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The Rising Tide of Legalization: March 13, 2020
Cannabis legalization has created hundreds of thousands of jobs and resulted in billions of dollars of collective market capitalization for the industry’s public companies. We see significant momentum from the industry’s positive economic impact and with cannabis now legal in ⅔ of the United States in some form (medical and/or adult use), we anticipate legal barriers for the industry will continue to fall. The “Rising Tide of Legalization” has the potential to further lift an industry which is already experiencing explosive growth. Cannabis Jobs Report: Legal cannabis now supports 243,700 full-time American jobs: The legal cannabis industry is still in its early days...