As the Canadian cannabis market heats up following legalization, data trends indicate that older demographics will gravitate towards edible items.

During a panel focused on research and projections at the Lift & Co. (TSXV:LIFT) cannabis expo in Vancouver, speakers discussed the role of dried flower in a thriving recreational market, as well as trends heading to the cannabis space.

Dubbed “New Data — The Latest Cannabis Analysis and Research,” the panel included speakers Jennifer Lee, partner and cannabis lead with Deloitte; John Kagia, chief knowledge officer at New Frontier Data; and Lise Dellazizzo, vice president of data and strategy with Lift.


US Election 2020 and Cannabis

 
Investing in cannabis? Read what experts have to say about cannabis and the US Election!
 

Edibles offer opportunity for older consumers

Dellazizzo broke down data results from Lift, which has been collecting information on cannabis consumers for four years, saying that the information shows a significant attachment between the edibles market and consumers 65 years old and over.

“There is no other cohort that is demonstrating that much of a change as that age group,” Dellazizzo said.

The data executive with Lift added that companies in the space can’t reach consumers with a one-size-fits-all approach when the data shows consumers attach themselves to various aspects of the market.

One thing that is helping this push to edibles, according to the panel, is the accessibility of consumption and its discretion.

Kagia said he has been surprised by how quickly consumers across all legal markets transition from flower to non-flower products.

However, he clarified that this change hasn’t necessarily decreased demand for dried flower; rather new consumers are gravitating towards novelty cannabis items.

Dellazizzo added that growth in edibles has come in part due to easy access for non-consumers of marijuana. She suggested that companies have to start looking for growth areas in consumers that are not yet interested in cannabis.

“The greatest challenge, I think, for the industry, is how are you going to socialize and make it acceptable for that 80 percent of the population [that doesn’t consume cannabis based on Lift data] to really feel as though consuming cannabis in any type or form is acceptable,” she said.

Lee added that in order to “truly get the scale” needed to succeed in the industry, companies have to get non-cannabis consumers to move into the market.

Data as an asset and globalization to pave the way in 2019

Lee said she foresees globalization and an increase in value for data within cannabis companies as major trends for 2019.

During the panel, the Deloitte researcher indicated that data will become a massive asset between companies, and will even be capable of providing a competitive edge.

When discussing the retail market, Lee explained consumers will hold the industry to the same standard as established markets. She said tougher standards are on the way for all players in the industry.

Lee is expecting to see brands try to scale on a global level and begin a fight for the attention of consumers on the world stage. She expects mergers and acquisitions (M&A) to continue as the industry requires the ability to scale up.

“Scale is the name of the game, and being small and niche is going to be very hard from a cost perspective,” Lee told the Investing News Network following the panel.

The researcher predicted there won’t be a specific M&A direction in 2019, but rather strategic plays. Besides scaling, she expects US companies to try and find spaces in the Canadian market as well.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) is pleased to announce that it has closed the 2nd and final tranche of its Unit financing. In connection with the closing, the Company issued 1,356,873 Units at a price of $0.55 per Unit, for gross proceeds of $746,280.15. Each Unit consists of one (1) common share and one (1) warrant. Each warrant entitles the holder to purchase one common share of the Company, at an exercise price of $0.75 per share, for a period of two years from the date of issuance. The warrants are subject to an acceleration right that allows the Company to give notice of an earlier expiry date if the Company’s share price on the CSE (or such other stock exchange the Company’s shares may be trading on) is equal to or greater than $1.25 for a period of 20 consecutive trading days. Finder’s fees of $42,542, 3,200 Finder’s shares and 80,550 Finder’s warrants were issued in connection with finder’s fees payable.

In total, the Company raised gross proceeds of $1,757,180 and issued 3,194,873 Units.

Keep reading... Show less

 Sweet Earth Holdings Corp. (CSE: SE) (FSE: 1KZ1) (OTCQB: SEHCF) (“Sweet Earth” the “Company”) is pleased to announce that it has received full Depository Trust Company (“DTC”) eligibility in the United States. On October 20, 2020, Sweet Earth announced that its shares had been listed on the United States’ Over-The-Counter Bulletin (“OTCQB”) under the ticker SEHCF.

DTC status means that Sweet Earth shares are now eligible to be transferred between brokerage accounts within the United States and significantly augments the ease in which American-based investors are able to trade Sweet Earth shares.

Keep reading... Show less

Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”), announces that further to its press releases dated July 21, 2020 and July 31, 2020, the Company proposes to amend the exercise price of 19,405,804 warrants of the Company that were originally issued on July 27, 2018, to $0.10. These warrants are set to expire on December 31, 2020.

The Company had initially proposed a lower amended price, but that proposal was not approved by the TSX Venture Exchange (“Exchange“), however, the Exchange indicated that a $0.10 exercise price, may be more acceptable. Accordingly, the proposed amendment remains subject to Exchange approval.

Keep reading... Show less

Issuance of U.S. Patent No. 10,851,077 covering methods for extracting and concentrating cannabinoids using ultrasound-enhanced solvent extraction bolsters World Class’ intellectual patent portfolio

World-Class Extractions Inc. (CSE:PUMP)(FRA:WCF)(OTCQB:WCEXF) (the “Company” or “World-Class”) is pleased to announced the United States Patent and Trademark Office (“USPTO”) has issued U.S. Patent No. 10,851,077 on December 1, 2020 in relation to the Company’s methods for extracting and concentrating cannabinoids and other target compounds from cannabis using ultrasound-enhanced solvent extraction

Keep reading... Show less

Ubican brings well-known brands and is a trusted vendor with an established sales and marketing program

Chemesis International Inc. (CSE:CSI) (OTCQB:CADMF) (FRA:CWAA) (the “Company” or “Chemesis”), announces Ubican Global (“Ubican”) as its primary supplier for its United States VICKI program. Ubican is a trusted supplier of a family of brands, each with multiple types of products. The products include tinctures, digestibles, edibles, pet, beautyskincare, topical, edible, fitness, and smokable products

Keep reading... Show less