- States that have already legalized cannabis are seeing a spike in business thanks to the overwhelming convenience of cannabis delivery
- Article reports that delivery services can “help surge revenue for retailers that jump in to take advantage”
- Earlier this year, SGMD launched a new business initiative for the licensed delivery of cannabis products
According to a recent article, states that have already legalized cannabis, such as California, are seeing a spike in business thanks to the overwhelming convenience of cannabis delivery (https://cnw.fm/SrPtT). This is great news for Sugarmade (OTC: SGMD), an innovator in the dynamic California cannabis scene with majority control and ownership of cannabis delivery service Nug Avenue, based in Southern California and providing hand-selected top-shelf products from Stiiizy, Kanha, PlugPlay, Cookies and more.
“Just in January of 2019, California legalized statewide cannabis delivery,” noted the article, titled “The Hottest Revenue Stream in Cannabis” and released by High There, the largest cannabis social network. “This removed the previous regulations that prevented the legal access to cannabis delivery throughout roughly 70% of the state. . . . As of January 19, cannabis delivery services can reach almost any address in California – and this includes the areas where retailers are still banned from opening a storefront.
“Landmark states that have already legalized cannabis, like California, are seeing a spike in business thanks to the overwhelming convenience of cannabis delivery,” the article continued. “Since January 19, the promise for delivery being the next wave in cannabis commerce is becoming obvious. What many are considering the next trend for cannabis business, delivery services can help surge revenue for the retailers that jump in to take advantage.”
The article noted that the cannabis industry is already a record $10 billion and climbing, even with cannabis prohibition still in place in much of the country. “A particularly explosive section of this industry is almost exclusively the new cannabis delivery sector,” the article stated. “In fact, according to Statista.com, 44% of medical marijuana users across the U.S. regularly used a cannabis delivery service to buy their bud. With legalization only having ramped up since then, it’s likely the numbers have only continued to increase, making the market ripe for cannabis delivery.”
Earlier this year, Sugarmade acquired a 70% stake in Nug Avenue, a Lynwood, California-based cannabis delivery operation, and launched a new business initiative for the licensed delivery of cannabis products (https://cnw.fm/ssInj). “We strongly believe the LA delivery market is the prime spot for expansion of our business,” said Sugarmade CEO Jimmy Chan. “California is the world’s sixth-largest economy, and LA County is by far the most significant driver, with over 25% of the state’s population. The Lynwood, California, site is optimal, as it is located along one of the major distribution freeways, allowing drivers to efficiently reach the more than 15 million consumers that live within a 30-mile radius of the new location. We plan to make a big impact on the LA cannabis delivery marketplace.”
Sugarmade Inc. is a product and branding marketing company investing in operations and technologies with disruptive potential. In addition to its financial interest in the BudCars brand, SGMD’s brand portfolio includes NUG Avenue, CarryOutsupplies.com and SugarRush.
For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at http://cnw.fm/SGMD
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