![]() ![]() ![]() This early era saw underground groups recognizing the changes in attitude toward cannabis as a medical application and pushing governments to revise their stances on decriminalization and eventually medical legalization. Above all, this phase was about black market participants advocating for the therapeutic uses of cannabis, and legacy participants making necessary steps to develop cannabis for health and wellness applications. The First Wave was the awakening or beginning of decriminalization. Those who fail to innovate will certainly go extinct. ![]() There is a monumental amount of opportunity in the cannabis space, but companies must adapt to the realities of competition and commoditization. This piece will examine the current cycle of cannabis’ road to maturation and what we like to call the “Fifth Wave of Cannabis.” However, it’s important to review what’s come before - what’s worked, what hasn’t and why - since many of the players you might be familiar with are in the throes of new market forces that are carving out winners and losers in ways that industry watchers have yet to see.īottom line: A lot of the strategies to “get on the shelf” are no longer the strategies that keep one there. The cannabis industry is finally poised to move into a global business epoch that more closely resembles that of other industries - regulated or otherwise - where consumers and decision makers are understood much more clearly and targeted more successfully. As the global cannabis industry moves nearer to commoditization, vertically integrated and niche players alike will give way to specialized operators that can own and optimize their piece of the value chain. ![]()
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January 2023
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