It isn’t everyday that we are able to connect with scores cannabis leaders in one day for deep conversations and the surfacing of thoughtful insights – but last Friday was one of those rare opportunities.
In partnership with Ample Organics, Business of Cannabis produced Sessions a full-day of live-streamed interviews.
Sessions gave us the unique opportunity to get a glimpse of the state of the industry from a wide array of perspectives. Here are three things we learned:
1. Education Gaps Abound
A common thread through nearly all Sessions interviews was the presence of a very real, and very wide education gap. This gap is prevalent for current consumers choosing legal versus illegal products, for those looking to treat animals with cannabis, for those using cannabis as an enhancement to sex and for those learning about medical cannabis. Education is paramount in evolving the industry and an education and information gap exists. In that gap are significant challenges for the sector…and significant opportunities.
2. Next Wave of Products Could Be Make-or-Break
Legalization in Canada may be in the early innings, but the next wave of products are going to give consumers many more choices – and with the choices it will be incumbent on Canadian businesses to stay focused on what they do well, but also be willing to adapt to where consumers’ tastes go. Vape pens, beverages, chocolates, lotions, creams, topicals, sprays and patches – all topics covered in Sessions – could be make-or-break for Canadian companies in the coming year.
3. Canadian Leadership Uncertain
The past year has been one of rapid change and advancement for the Canadian cannabis industry. The federal approach to cannabis in Canada opened up capital markets here before anywhere else – allowing capital to flow into the Canadian sector. But it also allowed capital to flow into players from around the world – and increasingly those dollars are flowing to non-Canadian players. Regulatory hurdles coupled with a rapid expansion of worldwide markets provides incredible opportunities to Canadian companies – and a strong push for non-Canadian companies to sprint ahead. The future is undecided and uncertain.
The full line up of Sessions interviews is below. Watch on…