Marijuana business leaders attending MJBizCon 2022 in Las Vegas this week described a variety of expected headwinds in the year to come – and a range of plans to adapt and succeed.
“The market has a lot of marijuana in it right now,” Beth Kotarba, chief operating officer of vertically integrated Colorado company Native Roots Cannabis Co., told MJBizDaily.
Kotarba sees challenges in avoiding overproduction and “getting the right balance of supply and demand,” especially given the long life cycle of cannabis plants.
“We’ve been addressing it by implementing a lot of planning, sales and operational planning, where we work really closely with retail on forecasting the demand, so that then it gives us time to adjust our supply chain to that demand.”
George Allen, board chair of California cannabis grower and seller Lowell Farms, cited heavy taxation, “market fragmentation and a rampant illicit market” as key difficulties for cannabis brands going into 2023.
“Most operators are relying on a strategy built on economies of scale and vertical integration with captive retail,” Allen said. “We are planning for a world where cannabis sales will occur across platforms on a federally deregulated basis.”
Check out today’s featured story to find out how your cannabis company’s concerns – and strategies – compare with others in the industry.
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