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The disruptive COVID-19 pandemic has wreaked havoc on the U.S. retail market. Nevertheless, cannabis has persevered. Most U.S. states with a legal cannabis industry—medical or recreational—quickly deemed cannabis retailers essential businesses, allowing them to operate during even the darkest days of the pandemic.
Global cannabis sales for 2020 will reach $19.7 billion, an increase of 38 percent over 2019 sales of $14.8 billion — even reflecting the impact of the COVID-19 pandemic — according to updated market forecasts published by BDSA (formerly BDS Analytics).
Jessica Lukas, senior VP of commercial development, BDSA, and Carl Edstrom, senior VP and principal, Survey Solutions, IRI, presented research on sales of cannabis products, consumer demographics, consumption occasions and the impact of COVID-19 during Cannabis Products Exchange, held virtually July 30-31.
What a difference a few months makes. Since our last issue in March, the world has been turned upside-down due to the COVID-19 pandemic. Our global perspective has forever shifted?including our perspectives on cannabis.
Cannabis Doing Good has launched the CDG Gives program, through which leading cannabis companies and inspired individuals aim to collect $15,000 by May 31 for communities impacted by the COVID-19 pandemic.
During this tumultuous time, consumers may turn to cannabis-infused food and beverages in the hopes of reducing stress, calming anxiety and promoting sleep.
Cresco will focus on hiring and training restaurant industry and hospitality service workers who have recently lost their jobs for 250 full-time positions at its Sunnyside dispensaries.
Jake Heimark, co-founder and CEO of Plus Products, has outlined the measures the California-based cannabis edibles producer has taken to protect employees and customers during the COVID-19 outbreak.