Canada Prepares for 420: Canadian Cannabis Companies Establishing an Online Presence (TSX-V: $WL.V) (TSXV: $FAF.V) (TSXV: $OGI.V) (TSX-V: $VIVO.V)
Point Roberts, WA and Delta, BC - April 4, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering hemp and cannabis stocks concludes our two part series looking at the Canadian cannabis landscape and the numerous companies ensuring not only a brick and mortar footprint, but also creating a significant online e-commerce presence as well.
With the many supply shortages the Canadian cannabis market has faced since legalization last year, having the store's menus and the capability of reserving products online for pickup just might be the way for Canadian cannabis consumers to beat the low inventory situation. Grab, a new legal cannabis app based in Canada, is set to launch in the Alberta and Ontario markets this April. The developers of the app performed extensive research which showed that many Canadians want the convenience of shopping Canada's best cannabis stores from the comfort of their own homes. They also noted that 90% of the cannabis consumers surveyed would like to have the option to reserve their favourite products for in-store pickup using a mobile app.
Apps like this can be expected to pop up more frequently as the Canadian cannabis market expands and many retail companies are paying close attention to this and are ensuring a proper online presence to compliment their retail footprint.
Westleaf Inc. (TSX-V: WL) (OTCQB: WSLFF), set to become one of Canada's largest premium cannabis retailers, recently announced that it has launched its e-commerce site for sales across the entire province of Saskatchewan. The retail site at www.prairierecords.ca provides consumers in the province, convenient online access to a wide variety of products through the unique Prairie Records retail concept, which combines music and cannabis in an engaging online experience.
"The launch of online retail is an important next step in rolling out the Prairie Records brand across Saskatchewan and the rest of Western Canada over the coming months," said Scott Hurd, President and CEO of Westleaf. "The province of Saskatchewan has proven to be a positive regulatory environment to launch our retail operations and we are pleased it is the first jurisdiction with a Prairie Records online presence."
"By extending the Prairie Records brand across Saskatchewan, we will continue to build awareness around the unique retail experience both in-store and online, which we believe will help build a strong customer base," said Adam Coates, Chief Commercial Officer at Westleaf.
The Click & Collect service allows age-verified adult-use cannabis consumers to reserve cannabis and accessory products for pickup at stores across the provinces of Alberta and Saskatchewan. The service was launched as part of the Company's mission to curate the world of cannabis for its customers who seek a more convenient and informative buying experience. Certain cannabis products sell out rapidly, and the Click & Collect service ensures customers are able to reserve high-demand products and receive priority service when visiting a store.
"The Click & Collect service has been adopted very favourably, particularly by our loyal customers using mobile devices," shared Trevor Fencott, Fire & Flower's Chief Executive Officer. "We are seeing rapid and continuous growth in use of our Click & Collect service across the entire Fire & Flower retail network."
Organigram Holdings Inc. (TSXV: OGI) (OTC: OGRMF), the parent company of Organigram Inc., a leading licensed producer of cannabis is also taking full advantage of online capabilities, having announced the release of a cross-platform, patient-focused mobile application.
The Application is designed to offer patients greater convenience in optimizing their medication regimen and stay up-to-date on products, programs and company news. Through this new Application, registered patients are able to: order medical cannabis products and accessories, manage their patient profile, view past orders and order limits, read the latest Organigram news and press releases and communicate with Client Care representatives.
"When it comes to managing their medication, patients have indicated to us that convenience and ease are important to them. This new tool gives patients greater ease of control over their wellness plans," says Organigram CEO, Greg Engel.
VIVO Cannabis Inc. (TSX-V: VIVO) (OTCQX: VVCIF), through its wholly-owned subsidiary, Canna Farms Limited, has also announced the launch of their own online resource with Canna Farms' integrated online medical cannabis website.
"Canna Farms' integrated online store will cater to discerning medical cannabis consumers," said Daniel Laflamme, President of Canna Farms. "In addition to offering award-winning Canna Farms and Beacon Medical brands, the site will serve as a marketplace for products from other licensed producers who share VIVO's commitment to delivering premium products and services focused on health and wellness."
The fact that so many cannabis sales companies are combining brick and mortar and online "grab and go" options falls in line with current global retail trends. Gone are the days of "just online" or "just retail" sales and we see this strongly evidenced with large scale companies like Walmart and Amazon, the online retailer who has now begun opening brick and mortar stores. As Canada readies itself for 420, companies merging the digital and physical sides of their business will certainly stand a higher chance of success at capturing sales.
Read part one of the series:
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