Cannabis 2.0 is upon us, but are retailers ready for the influx of new products?
Sitting on a bench outside the Hunny Pot, the first cannabis retailer to open its doors in Toronto, three friends spark a pre-rolled joint they bought inside only moments earlier. This scene wouldn’t have been possible little more than a year ago. Smoking cannabis in public wasn’t legal, neither was buying it in brick-and-mortar shops. Back then, the retail space that now houses dozens of dry leaf and oil products was only used to host the occasional pop-event after long-time tenant New Era, a hat retailer, vacated it. We’re going to have to evolve on a weekly basis Hunny Pot’s Cameron Brown Change has been swift in the cannabis space and outside the Hunny Pot, one of the three 20-something friends is looking forward to more. In December, retailers will begin selling a host of new cannabis derivative products, including edibles, vaporizers and beverages in a second wave of legalization that the industry has dubbed cannabis 2.0. It has taken just a year for the next phase of legalization to occur, but for one of the friends, it hasn’t been fast enough. “I don’t want to f–k up my lungs anymore,” the man said, eyes watery after taking another puff from the joint. Cannabis 2.0 will test how quickly retailers such as the Hunny Pot and the licensed producers that supply them are able to adapt. The introduction of extracts is estimated to add an additional $2.7 billion to the cannabis market, according to Deloitte, but as producers add dozens of new products, retailers may already be facing a crunch in terms of how much of it they can actually carry. Customers at the Hunny Pot store on Queen Street, Toronto. The layout was meant to be minimalistic. Peter J Thompson/National Post The Hunny Pot’s layout was meant to be…
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