New crop of marijuana growers shape the future of cannabis retailing

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Lawmakers introduced cannabis in Canada last week, as the country became the world's first major economy legalize marijuana for recreational purposes. Now, as barriers collapse in North America on the sale of what was once repudiated as "Folie Reefer", & nbsp; it's fascinating to see how retailers react.

A new generation of "marijuana merchants" (and support services) are emerging, literally inventing the category as they go along. In anticipation of what might be called "the green wave," an event recently took place in Chicago to help solve the problem. "The future of the cannabis trade".

"We have not yet figured out what a cannabis shop should look like," the organizer said. Gwen Morrison, CEO The WPP store*, Americas and Australasia. "At the present time, the experience is inconsistent, as the category extends from cold dispensary formats to lifestyle shops. & nbsp; In the future, some stores may look like bakeries, others look like fine jewelry. As the BBC has recently speculated, "Shabby Headshops" could be a thing of the past. "

Steve Weisman, President and CEO of Windy City Cannabis, believes that the best asset for the nascent category is the specialized retail trade, with "the base … knowledge of employees". Hence the importance of the "budtender", the term used by the industry for sales experts. "It's extremely important to have a well trained and highly polite staff, which will lead to the whole experience," said Weisman.

Bethany Murphy Gomez, another member of the event panel, the Cannabis Research Organization, the Brightfield Group D & # 39; agreement. "You enter a dispensary and there are a hundred different products … you do not know what half of them are … no idea what to use, how to dose it, what will work for you … that's why education is absolutely essential. "

Contemporary, service-oriented and experiential retailing can be a good guide as to where the "cannabis tail" will go. In the United States, a publicly traded cannabis company MedMen was celebrated as the "Apple Store of Weed". & nbsp; As they say; "We do not run pot-shops, we run leading stores that sell marijuana." So the stores are open, clean, and modern, with iPads on central tables providing more information, more information and more. high-end branded products on the walls, -shirt wearing buttons to help customers, and purchases placed in "iconic" fire red bags.

One of the new retailers that gets talked about in Canada is Fire & amp; Flower, which has just obtained provisional licenses to trade in two provinces, with major plans to become the leading player in Canada. CEO Trevor Fencott aims to "The first-rate store design that will aim to enhance the retail experience" and talk about "Cannistas" (baristas of cannabis) serving "guests".

Back in the US, if MedMen is the Apple Store, San Francisco-based cannabis delivery service Eaze is the "Uber for the grass". The service offers marijuana and accessories ordered on an app and delivered to your home in less than an hour (and often considerably faster), in major California cities. Eaze is, as much as anything, a dataset, providing the clinics it serves with a wealth of information about the cannabis consumer. Like Cameron Forni, a supplier of vaporizer cartridges, says at age"It's amazing to see their … consumer opinions around our brand."

In addition to start-up companies, serious expertise in retail and investment investments are beginning to affect the industry. The Ohio Schottenstein family – investors in DSW and the driving force behind American Eagle Outfitters – support a company called Green growth brands. The CEO of Green Growth, former veteran of Victoria's Secret and American Eagle Peter Horvath, believes that the basic rules of retailing apply to this new category. "There are some critical differences, but 90% of the experience and expectation of the customers are the same."

Where to go from here? Gwen Morrison warns that there are many legal and logistical hurdles for operators and suppliers who wish to become national brands, across the United States. At the same time, Morrison states that "the marketing and store design opportunities are exciting" and that "the brand marijuana concept is a cool canvas".

This may well be one of the most exciting retail experiences of the recent period.

* Note from the author: WPP is the parent company of VMLY & R, which is my employer.

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Legislators introduced cannabis in Canada last week as the country became the first major global economy to legalize marijuana for recreational purposes. At a time when barriers are breaking down in North America when selling what was once dubbed "reefers madness", it's fascinating to see how retailers react.

A new generation of "marijuana merchants" (and support services) are emerging, literally inventing the category as they go along. In anticipation of what might be called the "green wave," an event recently took place in Chicago to help understand "The Future of the Cannabis Trade."

"We are not yet aware of what a cannabis store should look like," said organizer Gwen Morrison, CEO of The Store WPP *, Americas and Australasia. "At the present time, the experience is inconsistent, as the category extends from cold dispensary formats to lifestyle shops. In the future, some stores may look like bakeries, others may look like fine jewelry. As the BBC had recently speculated, "sordid headshops" could be a thing of the past. "

Steve Weisman, CEO of Windy City Cannabis, one of the panelists present at the event, believes that the best asset for the nascent category is the specialized retail business, with "the base … knowledge of employees" . Hence the importance of the "budtender", the term used by the industry for sales experts. "It's extremely important to have a well trained and highly polite staff, which will lead to the whole experience," said Weisman.

The Brightfield group, also a panel member, Bethany Murphy Gomez, of the Cannabis Research and Cannabis Research Organization, agreed. "You enter a dispensary and there are a hundred different products … you do not know what half of them are … no idea what to use, how to dose it, what will work for you … that's why education is absolutely essential. "

Contemporary retail, service-oriented and experiential can be a good guide to where the "push tail" will go. In the United States, the publicly traded cannabis company MedMen has been celebrated as the "Apple Store of Weed". As they say; "We do not run pot-shops, we run leading stores that sell marijuana." So the stores are open, clean, and modern, with iPads on central tables providing more information, more information and more. high-end brand products on the walls, -shirt wearing shirts to help customers, and shopping placed in "iconic" fire red shopping bags.

Fire & Flower, one of Canada's new retailers, has just been granted interim business licenses in two provinces, with the advantage of becoming Canada's leading player. The CEO, Trevor Fencott, aims to "build the best possible store and enrich the retail experience" and talks about "cannistas" (cannabis baristas) serving as "guests".

Back in the US, if MedMen is the Apple Store, the San Francisco-based cannabis distribution service, Eaze, is the "Uber for weed". The service offers marijuana and accessories ordered on an app and delivered to your home in less than an hour (and often considerably faster), in major California cities. Eaze is primarily a data set, providing clinics that it serves a wealth of information on the cannabis consumer. Cameron Forni, a supplier of vaporizer cartridges, told Ad Age: "It's amazing to see their … consumer ideas about our brand."

In addition to start-up companies, serious expertise in retail and investment investments are beginning to affect the industry. The Ohio Schottenstein family – investors in DSW and the driving force behind American Eagle Outfitters – supports a company called Green Growth Brands. Green Growth CEO Peter Horvath, a veteran of Victoria's Secret and American Eagle, believes that the basic retail rules apply to this new category. "There are some critical differences, but 90% of the experience and expectation of the customers are the same."

Where to go from here? Gwen Morrison warns that there are many legal and logistical hurdles for operators and suppliers who wish to become national brands, certainly in the United States. At the same time, Morrison states that "the marketing and store design opportunities are exciting" and that "the whole concept of brand marijuana is a cool canvas".

This may well be one of the most exciting retail experiences of the recent period.

* Note from the author: WPP is the parent company of VMLY & R, my employer.