With more than 30 U.S. states now allowing some form of cannabis use within their borders, hundreds of businesses have sprung up to supply the almost unending demand for cannabis products. As the market attracts more players and becomes increasingly competitive, companies have adopted unique approaches to stand out from the ever-growing crowd and increase brand loyalty among their customers.
One recent tactic that businesses within the cannabis industry have adopted has been to include marijuana seeds in their product lineups. While this might seem counterintuitive because it could encourage consumers to grow their own cannabis rather than purchase from licensed retailers, cannabis companies don’t see it that way.
Trade Roots cofounder Carl Giannone stated that even though plenty of people who have home gardens grow tomatoes over the summer and spring, a whopping 98% of the tomatoes they consume are bought in grocery stores. Applying this logic to cannabis seeds, Giannone explained that if growing tomatoes encouraged people to buy tomatoes then it would make sense to let your customers grow their own tomatoes.
Now that a federal policy change made it legal for marijuana businesses to sell cannabis seeds, more companies are choosing to offer seeds for purchase to their customers. Some companies are using this new product line to boost their bottom lines while others see it as a way to increase brand loyalty and share their genetics with customers.
Rapper and entrepreneur Berner, who is also the cofounder and CEO of Cookies, a cannabis business based in the San Francisco Bay Area, announced in November that his company would start selling cannabis seeds for home cultivation. The cannabis company launched its marijuana seed bank on Black Friday. According to Berner, the company “broke some internal records” during the launch. He stated that there was definitely demand for marijuana seeds among consumers, adding that the company wanted to empower consumers to explore cannabis and learn about cultivating it from the ground up.
This new market is due for a policy change by the Drug Enforcement Administration, which clarified in 2022 that it was legal for cannabis businesses to distribute and sell cannabis seeds across the country.
According to Ryan Douglas, a cannabis cultivation consultant based in Florida, the move could allow businesses to boost their brand recognition and loyalty through high-quality or rare cannabis varieties. This approach of selling cannabis seeds also has the added benefit of potentially boosting the sales of ancillary enterprises such as Advanced Container Technologies Inc. (OTC: ACTX), which focus on making indoor cultivation equipment.
NOTE TO INVESTORS: The latest news and updates relating to Advanced Container Technologies Inc. (OTC: ACTX) are available in the company’s newsroom at https://cnw.fm/ACTX
CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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