The number of baby boomers buying marijuana increased 19% in 2017 in comparison with an year earlier, the highest of any generation. Vaporizers and edibles are most popular among millennials, while tinctures are most widely used among baby boomers. On Inauguration Day 2017 (Jan. 20), Eaze sales increased 21%, making it the seventh-most widely used holiday for ordering cannabis, a lot more than Cinco De Mayo (May 5), Memorial Day weekend and Mother’s Day. Other popular days include government holidays including President’s Day and the July 4th, which ranked as the third- and sixth-most favored delivery days, respectively.
Consumers favor ready-to-use, convenient consumption methods like vaporizers, edibles and prerolled marijuana cigarettes. In 2017, vaporizer sales increased 191% and preroll sales increased 267% from 2016. Sales of loose buy real cannabis oil online, on the other hand, are wilting, having dropped 43% in the last year. People are turning to marijuana as a wellness product for such things as sleeplessness, anxiety, pain along with other ailments. 45% of respondents said they replaced sleeping pills with marijuana.
Meanwhile, other web-based services like marketplace LeafLink Inc. are utilizing the web for connecting marijuana growers and brands with retailers. LeafLink, which launched in 2016 now employs 25, facilitated $18.2 million amount of transactions in December and is also on the right track to facilitate $500 million amount of B2B marijuana transactions in 2108, says Ryan Smith, LeafLink’s 26 year-old co-founder.
Everything is changing so quick. People say 1 year in the marijuana sector is like seven anywhere else. Cannabis retailers have typically managed their ordering process through email, sms messages and telephone calls having a decentralized web of cannabis flower, edible, concentrate and topical vendors, LeafLink says. “As a purchasing manager in a dispensary you might have 25 to 50 brands on your own shelves, and you also once had to have emails, PDFs, sms messages and phone calls from brands in regards to what was available so when. It had been old fashioned,” Smith says.
The LeafLink marketplace enables them to place all orders in a single legally compliant shopping website. The cannabis vendors then manage their incoming orders utilizing the platform’s business tools, including CRM, data reporting, order status tracking and fulfillment, the business says. LeafLink fails to process payments, however.
“LeafLink is an order management platform, so the orders are performed online through our platform, nevertheless the brands and retailers handle their payments since they also have offline,” Smith says. “There are challenges around banking in the market, so right now we don’t provide that service. Companies settle face-to-face.”
1,850 dispensaries make use of the platform and 450 brands sell through it, LeafLink says. To use the marketplace, a dispensary sends its state license to LeafLink for review and as soon as approved, LeafLink displays marijuana brands the specific dispensary is legally allowed to purchase according to state regulations. “Retailers only see what’s they are permitted to purchase based upon state rules, “Smith says.
LeafLink, that has raised $14 million from investors, collects a monthly charge for brands to list on its marketplace; the service is free for retailers. LeafLink recruits sellers and buyers mainly though its team of eight sales agents but also though online advertising. But marketing is tricky for the industry, he says.
Facebook Inc., Google and Apple Inc.’s app store have a variety of constantly changing rules about words and images related to cannabis, Smith says. “On one platform you maybe can’t set up a photo of the marijuana leaf, so you may have to put up a picture of your own logo instead,” Smith says. “I know one cannabis company having an app that took 2 yrs to obtain approved kifsiz the iOS app store.”
Smith’s partner at LeafLink has come from from eBay Inc., and LeafLink built all its technology in-house. The company is definitely adjusting to the ever-changing regulations in the market, Smith says. “It’s very much a full time income project,” he says. “In California for instance, we have been basically building out our structure while they’re drafting their regulations. Everything is changing so quick. People say 1 year inside the marijuana sector is like seven somewhere else.”
Because cannabis is not legal under federal law, cannabis sellers inhabit a gray area with unpublished rules that are enforced sporadically when it comes to advertising their goods online, West says. For example, a cannabis retailer may have a Facebook page for its business, nevertheless it can’t make sales proposes to consumer. However, Facebook Inc. has not clearly defined just what a sales offer is, and a few National Cannabis Industry Association members have gotten their pages rejected through the social media network simply because they listed their store locations, West says.