At Cannabiz Consumer Group™, we’re excited to be at the forefront of marijuana market research. We bring to the table an experienced group of researchers. All of us look forward to sharing and growing our understanding how the marijuana industry influences and shapes our attitudes and spending on traditional products and services.
Marijuana is a leading growth industry.
As Cannabiz Consumer Group™ launches a set of research services, marijuana is promising growth and change to agriculture, medicine and pharmaceuticals, recreation and tourism.
Already our largest agricultural crop in several states, cannabis is poised to become the largest agricultural crop across the United States.
Additional potential comes from the medicinal marijuana movement, changing physician prescribing and patient decision making; impacting over-the-counter and prescription pharmaceutical utilization for pain, nausea, glaucoma, and other maladies.
Of course, it goes without saying that marijuana is increasingly available legally for recreational use. This latter category promotes growth in tourism, leisure, and convention-related business.
Consumer packaged goods, pharmaceuticals, and more...
Legalization: coming soon to your state.
Fifteen states will be voting on some aspect of legalization on the coming November ballot, including California and Nevada, two states that are highly likely to add their numbers to the three states that already legalized marijuana for recreational use. Even without these states, cannabis is the fastest growing industry in the US today.
Marijuana policy means choice of revenue or burden of enforcement
In addition to the impact on consumer markets, cannabis will play a significant role in determining the wealth of states, as it has recently in Colorado. It will play a role in determining which states benefit positively from increased tax revenue and decreased costs for law enforcement and incarceration. Conversely, states can experience counter-productive impacts as states around them legalize recreational and medicinal cannabis and place a greater burden on neighboring states to deal with costs of prohibition enforcement.
Rapid expansion with patchwork regulation means challenges for business.
There remain many hurdles to bring the cannabis market to a mainstream industry. These include a complex regulatory patchwork impacted by municipal, state and federal rules. The banking infrastructure has been slow to process payments for the industry, stymied by federal scheduling of cannabis. Social stigma can hamper progression of the market. All of the aforementioned leading to a fractured approach to the growing, processing, storage, distribution and sale of cannabis.
Investors are aggressively entering this market.
According to Marijuana Business Daily, cannabis companies secured more than $215 million in venture capital funding last year, a year when only three states legalized recreational marijuana.
Consumer spending will be changing.
Cannabiz Consumer Group has been tracking this exciting new industry since 2012. Our exploratory market research already demonstrates a significant impact on discretionary spending across a wide number of purchase categories, stimulating spending in some and curtailing it in others. It’s time for you to become part of that conversation. We look forward to starting a dialog with you and hearing your opinions. Join us in pioneering the path to cannabis consumers!
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