The Flip to Adult Use: Jushi Eyes Political Climate, Retail Trends When Expanding in Newly Legal Cannabis Markets


<![CDATA[What are some best practices for cannabis businesses looking to make the switch from medical to adult-use sales in newly legal markets?For multistate cannabis operator Jushi Holdings Inc., it all comes down to navigating each state’s political climate and retail trends while maintaining control of the supply chain through vertical integration and implementing an omnichannel approach to reach patients and consumers.With more than two dozen medical and adult-use dispensaries nationwide, Jushi is currently evaluating opportunities to transition from medical to adult-use sales—or strengthen its adult-use presence—in several of its markets.“There are so many different variables that you can leverage the playbook, but you also have to have a different strategy in each market,” Trent Woloveck, Jushi’s chief commercial director, tells Cannabis Business Times.In Virginia, for example, Jushi opened its first medical cannabis dispensary in December 2020, and has seen patient growth over the past year with the passage of a medical cleanup bill during the last legislative session and the legalization of flower in the state’s medical cannabis program.Now, the company is paying close attention to the rollout of Virginia’s adult-use cannabis program after the state passed a legalization bill last spring.While the legislation’s cannabis possession and home-grow provisions took effect July 1, much of the bill is up for reenactment, meaning that it cannot become law unless the General Assembly approves it again during the 2022 legislative session.Further complicating matters in Virginia is a change in gubernatorial leadership, with Gov.-elect Glenn Youngkin taking office Jan. 15.RELATED: New Governor, Reenactment Clause Could Mean Changes to Virginia’s Adult-Use Cannabis LawA commercial adult-use market is slated to launch Jan. 1, 2024, but Woloveck says the regulatory details are up in the air as the General Assembly considers three pieces of legislation: a medical cleanup bill, legislation that would establish an early transition…

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Source : The Flip to Adult Use: Jushi Eyes Political Climate, Retail Trends When Expanding in Newly Legal Cannabis Markets

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