Could Walmart Be Entering the Legal Cannabis Market?

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The substance marijuana is considered to be a Schedule I narcotic by the U.S. government, which has made entering the market from national corporations quite difficult. Prohibition of cannabis has led to the current world of marijuana that we live in, where states can pseudo-legalize the substance for medicinal or recreational purposes. Because of all the new regulations on cannabis, the industry on pot has grown tremendously, which is expected to reach a total of $24 billion within the next seven years.

There is no doubt that the cannabis industry is quickly becoming one of the larger markets within the U.S., but many are wondering how it will grow in the near future. With so many large companies in the pharmaceutical industry coming into the space, many of the stronghold American corporations are beginning to wonder how they can in on such a lucrative market. One of the newest pieces of news comes out of Walmart, where they could potentially be stocking pot or at least pot related products in the not too distant future.

Walmart announced earlier in the week that they made a deal for distribution with the Denver based American Cannabis Company. The American Cannabis Company produces products designed for the cannabis industry, without ever actually touching the physical plant. So far, the company has been able to strike up deals with some of the largest industry leaders in the country such as Home Depot and Amazon, but could Walmart be taking it a step forward?

The distribution agreement will likely see products from SoHum Living and Dr. Marijane Root Probiotic on the shelves of one of the largest companies in the country. Aside from this being a big deal for Walmart, the agreement is quite a large milestone for the whole of the marijuana industry. Given that Walmart is so large and such a big part of the culture of the U.S., stocking marijuana related products will help to give much needed exposure and gratification to a market that too often gets an unfair bad rap. CEO of ACC, Terry Buffalo stated recently that “ACC is excited to have the opportunity to offer our products online through these major retailers. We are especially excited to be selling our proprietary SoHum Living Soils potting mix through these online channels, as we have spent years perfecting our blend, and fine-tuning the messaging around the brand itself.” He continued to state that “we are also proud to be offering Dr. Marijane Root Probiotic on these online platforms. This root probiotic is packed with all the beneficial microbes you need to awaken the nutrients in your soil or soil-less hydroponic medium.”

Well, some individuals may say that the fact that these products are only available online, takes away from how big of a deal this is, but the majority are just happy to see the introduction of the marijuana industry into the mainstream world. Also, the online space of purchasing items has grown substantially over the past ten years or so, making it the optimal place to by new products.

In 2017 alone, American consumers spent around $454 billion with online retailers such as Walmart and Amazon, which is a number that is $63 million more than they spent in 2016. This is the highest increase in online sales since 2010 according to a new report. The new round of online shoppers is helping to grow this industry to its full potential in the not too far off future. The hopes are high that the marijuana industry can continue to see such large advances in proliferation and widespread adoption of new products.

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