Recently the cannabis industry got a sky-rocketing boost from all over the world. Legalization and acceptance of cannabis by government bodies and people create new channels in which the cannabis industry can grow. New policies to handle the cannabis sector are bringing in opportunities that are somehow transforming this industry.
One of the significant contributors to change is technology. The advancement in science, agriculture, digital and commercial technologies makes things easier or even better than old times. Understanding cannabis is now a little bit straightforward and yet! There is a long way to go.
The newest advancements will help the cannabis industry with cultivation, eCommerce, retail, delivery, and customization. Here are five reasons technology is transforming the cannabis industry.
Cannabis industries are heavily investing in the right cultivation practices. These cultivation practices’ main goal is – Lowering operational costs, increasing cannabinoid levels in the crop, and faster harvest time. It is quite evident that a good plantation will have a better yield. The focal point of technological advancements is on –
- Getting a better variety of strains
- Lowering water consumption
- Rapid innovations in lighting and energy consumptions
- Waste disposal
There are endless examples of innovations happening to get a better yield of cannabis (marijuana or hemp) corps. Planetary remote sensing technologies are providing insights on cannabis farming. DNA sequencing and genetic mapping of cannabis are changing the weed experience. Besides this, LED technologies are revamping indoor growing operations on a large scale.
eCommerce platforms have drastically changed in the last decade. With some legal freedom over cannabis use, eCommerce platforms specifically for cannabis are changing. The markets are projected to reach $166 billion by the year 2025, and so the opportunities for cannabis eCommerce are expanding through retailers to consumers.
The introduction of point-of-sale (POS) and seed-to-sale cloud platforms makes the lives of retailers and growers more straightforward. eCommerce platforms are helping retailers sell their products across the country. Online payment solutions have also seen reforms, cannabis payment solutions are emerging slowly – changing from cash-only to cryptocurrency to e-wallets and prepaid cards.
The cannabis industry has finally been able to catch up with retail technologies. For so many years, cannabis has a selling point on streets and back alleys. Legalization and licensing have given the cannabis industry an open space to sell their products easily. Augmented reality (AR) is boosting the cannabis experience on a whole different level. Many efforts will give an omnichannel to cannabis retailers, where customers can make purchases through their chosen channel.
POS systems, digital signage, and online menus are making the customer’s shopping experience more original. With the help of eCommerce platforms, retailers can connect with potential customers through email/SMS marketing or apps. Retail technologies give customers more freedom on what they want to buy.
Technology has brought in more security in the cannabis delivery chain. The supply chain cannabis delivery – from cultivator to manufacturer – to the dispensary or a retailer everything comes under secure services. Not as it was an age ago! Logistics software now manages the delivery programs that take products from retailers or dispensaries to customers.
Eaze is a company which helps to deliver cannabis products to the customers directly. They are even called “Uber of Marijuana delivery.” The company allows customers to order cannabis products from licensed retailers from the Eaze website or app.
The only way of cannabis consumption was through smoking. Until recently, food innovations, pharmaceutical technologies, and electronics, etc. are shaping the ways of cannabis consumption. Cannabis is now available in so many forms: vape, oils, tinctures, gummies, sweets, and other food products. The cannabis industry has its branches in the beverage industry, beauty industry, and wellness industry.
Customized consumption is the keyword here. Biotechnologies and the medicinal community are researching for more optimized ways of cannabis use. The goal is the same: how to improvise the cannabis experience is the better way.
Reaching the end, we just scratched the surface of how and where technologies are changing the cannabis industry. There is so much happening and evolving in the cannabis world; from that, we can only conclude that the cannabis industry’s future is optimistic. One should learn from the past (cannabis history) and move on to a better tomorrow.
5 Reasons Technology is Transforming the Cannabis Industry