Why Ontario pot retailers are worried about a new wave of cannabis stores set to hit the market

After a stalled rollout, Ontario is aiming to approve dozens of cannabis retail outlets each week with the goal of hitting 1,000 stores across the province by the fall.

But the prospect of more competition, especially during a pandemic, has some in the industry predicting a shakeout in the marijuana marketplace.

Vivianne Wilson, the founder and president of GreenPort Cannabis on College Street in the heart of Little Italy, opened her story on Oct. 17, 2020 after waiting almost a year to get it approved.

“We opened during the pandemic, so we don’t know what normal is. As soon as we opened we were on lockdown again so people can’t come into the store,” she said. Wilson added that the retail experience is how she hoped to differentiate her store.

GreenPort Cannabis employees fill orders during the store’s grand opening on Oct. 17, 2020. (CBC)

By last summer, Ontario had authorized just 100 cannabis retail stores, fuelling criticism that the slow rollout was hurting legal sales and helping the black market.

Now the Alcohol and Gaming Commission of Ontario, which regulates the cannabis industry, is aiming to approve 30 retail store authorizations per week.

But with in-store shopping curtailed in many regions due to COVID-19 restrictions, Wilson says it’s been tough times for cannabis startups like hers. She’s concerned about the impact all those new stores will have.

“We opened a brand new business in a brand new industry during the pandemic, so those are…

Original Author Link click here to read complete story..

After a stalled rollout, Ontario is aiming to approve dozens of cannabis retail outlets each week with the goal of hitting 1,000 stores across the province by the fall.

But the prospect of more competition, especially during a pandemic, has some in the industry predicting a shakeout in the marijuana marketplace.

Vivianne Wilson, the founder and president of GreenPort Cannabis on College Street in the heart of Little Italy, opened her story on Oct. 17, 2020 after waiting almost a year to get it approved.

“We opened during the pandemic, so we don’t know what normal is. As soon as we opened we were on lockdown again so people can’t come into the store,” she said. Wilson added that the retail experience is how she hoped to differentiate her store.

GreenPort Cannabis employees fill orders during the store’s grand opening on Oct. 17, 2020. (CBC)

By last summer, Ontario had authorized just 100 cannabis retail stores, fuelling criticism that the slow rollout was hurting legal sales and helping the black market.

Now the Alcohol and Gaming Commission of Ontario, which regulates the cannabis industry, is aiming to approve 30 retail store authorizations per week.

But with in-store shopping curtailed in many regions due to COVID-19 restrictions, Wilson says it’s been tough times for cannabis startups like hers. She’s concerned about the impact all those new stores will have.

“We opened a brand new business in a brand new industry during the pandemic, so those are…

Source link

Latest posts