Why Marijuana Marketing Will Be Bigger Than Ever This Year
The cannabis business had some big wins during this year's election. Now, that's stimulating predictions of major greenback growth along with ever-more sophisticated marketing strategies on the part of cannabis companies.
In November, citizens of four states—California, Massachusetts, Maine and Nevada—voted to approve recreational cannabis usage for adults 21 or over. They join four other states where the drug can be used recreationally: Alaska, Colorado, Oregon and Washington, along with the District of Columbia. Meanwhile, voters in Florida, Arkansas, North Dakota and Montana also approved the legalized use of medical marijuana. All told, 28 states have opened up to medical usage.
Given all that activity, Matthew Karnes, founder of the marijuana financial consultancy GreenWave Advisors, predicts that the legalized U.S. industry will grow from $6.5 billion in sales during 2016 to $30 billion in 2021. He estimates that by 2021, marijuana marketing will total $75 million....
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