- Last week, the Department of Labor announced that an additional 6.6 million people filed for unemployment, bringing the total number of new unemployment claims to over 16 million since March.
- Even the cannabis industry, where retailers witnessed some of their highest performing months at the beginning of March, is now experiencing a sales slump after the initial panic buying period.
- California-based cultivator and consumer brand, Canndescent, realized this potential challenge at the beginning of the outbreak and moved up the launch of its third brand, Baker’s Cannabis Co. , by 90 days to give legal dispensaries a competitive edge in the market.
- We recognized the potentially disastrous consequences of this global health and economic crisis and knew we had to pivot our business to better serve our hard-working consumers and retailers, said Sam Arellano, Chief Marketing Officer of Canndescent.
Read full article: forbes.com