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Resilience of the Cannabis Industry during COVID-19

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Despite of the global pandemic, the marijuana industry has been able to perform well and proven its resilience.

At a time where almost all major industries have suffered losses, the resilient performance of the cannabis industry has been very unconventional. The record breaking sales in the industry since the start of 2020 has proven that it has a high potential of sitting pretty – even in a recession.

Part of this can be associated with the acumen of the entrepreneurs who have taken up the challenge of starting a venture in the risky industry. COVID-19 is not the first obstacle that this young industry has stumbled upon. From strict regulations to logistical challenges – cannabis businesses have seen it all.

Despite of these obstructions, the global pandemic was a completely unseen snag for the entire economic world. The set of difficulties it brought with it has resulted in the collapse of even the most well established businesses. The resilience of the cannabis industry can be seen in the success with which it has been surpassing these complications.

How did the cannabis industry perform well during the pandemic?

According to statistics, recreational weed sales hit a record breaking $158.1 million in June of 2020 in Colorado alone. As opposed to this, industries like tourism, travel and hospitality saw themselves struggling to hold up in the economic crises.

There are a number of contributing factors that have led to this atypical performance of the cannabis sector despite of a global recession. Here is an overview of some of the factors that have been contributing to the resilience of the cannabis industry.

Increased Decriminalization and Legalization of Marijuana

The federal law of United States classifies marijuana as a Schedule 1 drug. This means that the legislation sees it as a drug that has no potential medicinal use and can be highy abused.

With time, marijuana advocacy groups and social right activists have been successful in changing this attitude within different states. This has made the retail, manufacture and distribution of marijuana acceptable and legal within many states, playing a huge part in its current boom.

Declaring marijuana as an essential item during the pandemic has enabled the market to thrive well in the pandemic. This can explain the rise in wholesale purchases of the drug in key markets like Colorado and California where figures rose by 34% and 44% respectively.

Implementation of e-commerce and technology in the cannabis industry

The cannabis industry has been very vigilant in incorporating new technology in its business models. The adoption of automated supply chain and e-commerce tools has empowered it to quickly meet demand.

The launch of cannabis vending machines in Colorado and Massachusetts has ensured contact less sales for businesses. In addition, their online ordering platforms allowed quick in-store pickups by purchasers.

Reduced Stigma Surrounding marijuana usage

The stigma associated with using marijuana has seen some decline in the COVID infected world. Due to lack of outdoor recreational activities, the use of the drug has increased by many folds.

COVID-19 has led to more and more people sharing their living space with friends or family. This has resulted in some open and difficult conversations surrounding the subject, promoting some acceptance of marijuana usage.

Growth speculations and New Investment Opportunities

Markets like Germany, United States and Canada are already exploring new opportunities in the cannabis trade.

The upcoming cannabis focused ETF on September 2nd in the United States is just one instance indicating new growth trends that this industry is going to experience soon.

The industry is also booming with employment opportunities for a couple of professions. White collar jobs for attorneys, technicians, scientists and researchers have seen new openings in the industry. Similarly, growers and trimmers, providing opportunities to other job categories as well.

According to statistics of New Frontier Data, the marijuana industry will be able to employ around 300,000 people 2020. These numbers may increase further to about 414,000 by 2021 according to other studies.

With so much to offer in addition to tax revenues for the government, we can speculate more legal relaxations in the industry.

 

 

A graduate in Bachelors of Business Administration, Yumna Haq is an ardent researcher and a dedicated writer. Having lived in three different counties, her cultural exposure is vast, allowing her to reflect more knowledge in her work. She's currently working for Cannabis Health Insider as a news writer.

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3 Ways To Enjoy Cannabis And Its By Products

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Cannabis Is Available In Many Forms

Cannabis is a literal treasure chest of hundreds of useful chemicals. There are so many different substances in its leaves, stem and roots that scientists can’t keep up. As a general rule, any chemical that is extracted from the plant’s leaves or stem can be called a “cannabinoid“. Still, even that term can’t do the multipurpose nature of the plant and its contents justice. In fact, it might be worth the read if you’re wondering how the different chemicals inside act. Understanding the therapeutic effects of each chemical is essential, and for that we’ve prepared a little reading list for your convenience.

Obviously, we won’t bore you with the jargon or the complexity of chemistry. We’ll keep things simple so if you’re new or an experienced marijuana user, you should find it easy to dip into this list. Also, this list isn’t a complete summary of the benefits of cannabis or anything. You can check out more benefits, like helping Multiple Sclerosis patients, or helping the elderly with chronic ailments on this site too. Without further ado, let’s start with the list.

Natural, uncooked cannabis

Nothing beats the efficacy of the mother nature. Raw cannabis has hundreds of chemicals that can be used in a multitude of ways. For example, you can smoke cannabis for a pleasurable high, or you can dissolve it in natural oils like olive oil and drink that too. Marijuana can be mixed into chocolate containing foods without changing their flavor much too. Pot brownies are the most common way people sneak cannabis into universities in the United States, because they’re easy to make and conceal.

Besides the direct uses, cannabis comes in many different varieties as well. There are two very commonly grown varieties, namely Cannabis sativa and Cannabis indica. Both have different concentrations of psychoactive agents, and hence give different highs. You can even get different experiences from cooking raw cannabis in many forms, but that does tend to convert some chemicals to different forms. All in all, nothing beats raw because of the various ways you can use it. The only downside to raw cannabis is that it is difficult to find and distribute across the United States.

Cannabidiol (CBD Oil)

Contrary to expectations, CBD Oil isn’t really an oil. It’s more like a mixture of different chemicals in different concentrations than what you’d find in normal, raw cannabis. It is usually a liquid at room temperature, which gives it the edge over raw cannabis in terms of versatility. You can mix it into your daily diet fairly easily.

However, in a lot of places, Cannabidiol or CBD Oil is mixed into gummy bears, chewable or other solid forms so it’s easier to transport and/or consume. It’s generally a little harder to come across than marijuana in the United States, but it’s benefits are worth going the extra mile. Users report that the high they get from CBD Oil is much more enjoyable. It can last up to two hours longer than the high they get from normal cannabis use.

Cannabis patches

If you want the pleasurable effects of cannabis but don’t want to buy paraphernalia, patches are the way to go. We all know how hard it is to carry a bong around, or how risky. They even come in variants with or without THC, so you can make sure you don’t get high in public. Plus, they’re discrete, and they don’t take too long to kick in. It’s definitely worth checking out.

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Jay-Z Enters Cannabis Distribution Under New Brand  

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Jay-Z To Sell Weed Through Monogram

That’s right, folks. There is a lot to say about the world famous rapper Shawn Corey Carter. His music work alone merits essays and discussions. Arguably the most famous rapper alive, Jay-Z has swung from success to success. It’s been vidi, veni, vici for the twenty two time Grammy Award winning musician. His genius doesn’t end there, either. Jay-Z has become the richest musician alive through his numerous brands like Rocawear and more recently, Tidal, his streaming service.

An adept businessman, Jay-Z is one of the most influential rappers in history. His albums redefined hip-hop, and made budding artists like Kanye West into the music giants they are today. And without even looking at his extensive work as a producer, the ubiquity of his name alone tells us all we need to know about this man’s achievements. It seems like Jay is looking to add a venture in cannabis distribution with his latest reveal, which he calls Monogram.

Jay-Z and other black musicians are largely responsible for normalizing weed

As long as thirty years ago, when using marijuana was a lot more censored and niche, rappers like Jay-Z and Snoop Dogg broke the mold in more ways than musically. They popularized a style of hip-hop, one that focused on telling the stories of people’s lives and incorporated almost every style of music you could imagine. And central to that new identity was a thought process previously never questioned before. The openness of such artists in their support for cannabis directly was a bold move. In the nineties, things weren’t as open as they are today. In all fifty states of the U.S., the prevailing mindset was pretty much blind hatred for cannabis. You didn’t talk about marijuana back then, or at least not in a good way.

And that’s where these rappers came in. They wrote lyrics about growing up in the face of adversity, boasted unapologetically of their numerous accolades and appealed to a wide audience. The name “Jay-Z’ became synonymous with a new wave of African American musicianship and began to blur the line between racial distinctions. Their music had an appeal to people of every walk of life. That is why their staunchly pro-cannabis lyrics had the ability to change public opinion since Jay-Z has long used marijuana and it’s censorship as a motif of sorts. Over the course of an illustrious musical career, the work he has done to normalize cannabis is irreducible.

Monogram is Jay-Z’s newest project

The new brand is with collaboration with Caliva, a well established cannabis producer with roots in California. Monogram is a new line that promises a signature quality that accompanies Jay-Z’s work. Not much is known about it at the moment, but a website is currently up, which you can check out here. Stay tuned, though, because we’re sure to have updates soon.

Jay-Z’s track record on business ventures is solid

This isn’t the first time the rapper has branched into alternative businesses. First, he launched a clothing brand in 1999 called Rocawear, and was so successful that Jay went on to found a sports bar chain called the 40/40 Club in 2003. Both businesses value in the millions today, showing that Shawn Carter really knows how to sell things people want.

Then, Jay pushed the envelope even further in 2015 when he acquired Aspiro, a tech company. Using their infrastructure, he proceeded to launch Tidal, a music streaming service to rival Spotify. Monogram released a short list of songs exclusive to Tidal, featuring many famous artists. So we’re comfortable saying this will be another feather in the iconic rapper’s cap, since there is plenty of evidence.

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Celebrate Sober October with Cannabis Drink Substitutes

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cannabis drink substitutes

In this article, we are going to suggest you some really cool cannabis drink substitutes. They will keep sober enough and you will be able to enjoy your month as well. You can also rethink your alcohol consumption and think about permanent shifting.

Dry January, no shave November and many other monthly observations are trending. One such term is sober October where people willingly avoid alcohol and related products for one month to remain sober.

The reason for partaking in such competitions vary from person to person. Some do it to minimize their booze consumptions while others do it for fun.

The “go sober for October” moment is slowly gaining hype and we want to grab this opportunity and present this amazing solution!

Also Read: Better Keep your CBD Dosage in Check

People are going to a new trend now. They are starting to call themselves “Cali Sober”. This means that they refrain from alcohol products but not from cannabis.

Cannabis is a relatively less “high” drug as compared to alcohol. So, switching to cannabis instead of alcohol is not a bad thing if you don’t want to leave the ecstatic part.

Well, if you are actually into it, then it doesn’t need to be October only. You can make every month your “sober” month. Here are some good drink alternatives which you can opt for:

 

Giant

Giant is among very unique cannabis drink substitutes having defining features that are very attractive. You should really go for it. There are different flavours and potencies. They include Indica, Sativa and Hybrid. The composition is 50 per cent of both CBD and THC.

This will make sure you get equal amounts of “highs” and “lows”.  The highs are meant for your healthy feelings and relaxation. This will make you feel happier and better. Lows are good for health. Enjoy the dual benefits!

 

Cann

Cann is a tonic type drink. The general public really loves this beauty. It is one of the OG low dose CBD/THC drink. It has 4mg of CBD and 2mg of THC.

Each drink has a maximum of 30 to 35 calories and flavours are also naturally made from herbs and citrus. This is a very good substitute and we can assure you that you won’t regret getting this!

 

 

Hi-Fi Hops

As the name suggests, this is quite a high bear type drink available in California and Colorado. If you desire something close to beer with bad effects removed, say no more.

Hi-Fi hops have got you covered with its smart high formula without any type of carbs, alcohols or calories. It is available in 3 dosages and these differ in the relative THC composition.

You can opt for relatively sober lowest THC content or a bit higher side only THC drink. You will enjoy both in both moods.

Also Read: Best Cannabis Growing Solutions for Newbies

 

Happy Apple

This is a very unique formula. This all-natural drink is healthy and sober at the same time. It is created by a combination of freshly made apples. Apples are turned into cider and then infuse naturally sweetened juice.

Each can have 140 calories and comes in three different dosages from lowest to highest. You can choose to depend upon your nature.

 

Deep Space

This specially prepared carbonated drink available in tin cans is wonderful. This Red bull + cough syrup taste drink consists of 10mg of THC, the highest legal amount allowed. High hitters will find it inviting.

 

There are many other amazing choices of cannabis drink substitutes including House of Terpenes, Houseplant, House of Saka etc. you can get any of them available in your region and enjoy!

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