It may seem like every industry has taken a beating in these days of COVID-19 and sheltering in place, but the cannabis industry is booming … mostly.
In the short term, customers in medical marijuana states have been stocking up, and store revenues nationwide have jumped to the tune of 50 to 100 percent or more. That trend is even helping battered Wall Street, at least a little, as cannabis stocks like Tilray and Canopy, which have been struggling quite a bit, showed major upticks.
What’s going on? It depends on where you look. Sales are skyrocketing in states where cannabis dispensaries have been declared “essential” businesses, like California and Florida, although some of that bubble surely has to do with customers stocking up in anticipation of tighter sheltering-in-place restrictions.
In other states like Nevada, which depends heavily on tourism, things aren’t going so well. Massachusetts and Illinois have straddled the line, allowing continued sales of medicinal – but not recreational – marijuana. And the city of Denver decided cannabis wasn’t essential, launching a public outcry furious enough that the decision was reversed a few hours later.
Dispensaries still in operation have had to make adjustments to keep crowds from forming. Many are having customers call ahead or order online, thanks to Brytemap’s completely unified eCommerce and pre-order site there have been zero barriers to selling. Better yet we even helped a dispensary utilize their drive through capabilities thanks in part to the building having once been a bank.
Regardless of delivery method, our wireless, cashless and portable ATM’s powered by BrytePay have made payments virtually effortless for both dispensary owners and their customers.
No one knows where any of this will end, but for the time being the cannabis supply has been more than adequate … you can’t buy toilet paper, but there’s plenty of marijuana in stock.
By the way, if you’re running one of those dispensaries that’s suddenly doing business like never before, you should know GreenR is proving capable of handling extremely large sale volumes. We’re here to help you keep it all organized, in compliance and under control.
All the best to you – and all of us – as we navigate these uncharted waters together.
Since you’re stuck inside anyway, you should take a look at what the Brytemap suite of products can do for your business… Cannabis Compliance Software- One Unified Platform