CBD Companies Must Have this Technology to Survive a Crowded Marketplace
Houston, Texas--(Newsfile Corp. - October 3, 2019) - MarijuanaStox announces publication of an article that discusses CannaOne Technologies (CSE: CNNA (OTC Pink: CNONF). The company has been aggressively addressing the ecommerce and online marketplace needs and opportunities of the growing cannabis industry, as a first-to-market software company with its proprietary software.
One of the Most Overlooked Stories in the CBD Market Boom
The CBD boom is here, and it's thriving as major retailers just on board.
Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney's DSW, CVS, American Eagle, and Walgreen's are all selling CBD products. Even Shopify is now offering features for U.S. retailers of hemp and CBD, expanding its North American reach.
On top of that, support for cannabis legalization is exploding. For example, a Gallup survey found that 66% of Americans are in favor of legalization. That's up from just 60% in 2016.
Approval throughout North America. Interest from corporate America, and the world are creating a sizable multi-billion-dollar boom
As that happens, cannabis companies are quickly realizing they must have an online presence to survive in a crowded market. They're also realizing they must have an online marketplace.
It's why Shopify is launching new features to help cannabis retailers establish and expand an online presence. For example, Shopify just opened its commerce platform to cannabis companies in the U.S. "Shopify has unmatched expertise in emerging industries, along with the resources merchants need to be successful in the fast-growing market of hemp-derived CBD products in the U.S.," Shopify COO Harley Finkelstein said.
The company has also been quite active in the Canadian market, as well. In fact, it provides a platform for the Ontario Cannabis Store.
However, while big companies like Shopify are just now getting on board to help cannabis companies flourish online, they're late to the game. Others, like CannaOne Technologies Inc. (CSE: CNNA) (OTC Pink: CNONF) (FSE: 3CT), a first to market online ecommerce solution developed around cannabis products and consumers has been in the business for quite some time.
Shopify's Announcement is Validation for CannaOne Technologies
According to CannaOne Technologies CEO Riby-Williams, "Last week Shopify's announcement on providing services US merchants for CBD is the market validation we have been expecting and waiting for. We believe that this rising tide will drive global cannabis commerce space and continue to support our business thesis playing out."
"We see the majority of these emerging countries coming online with proper regulation, and the markets will evolve to the notion of the 80-20 philosophy where a handful of players will have the lion's share of the sales volume. Our fully customized, dedicated and purpose-built THC / CBD marketplace platform can react with speed to changing market conditions, help make data driven decisions and provide our clients and partners with a team of cannabis marketing experts that prove to be essential, and acts as a core differentiator in the industry," he added.
CannaOne Technologies is Expanding its Global Footprint
Just recently, the company entered into a Memorandum of Understanding (MoU) with LevelOut UK (LO), which will act as the majority equity partner in a joint venture corporation (JV), being established to service the UK market and sets the path towards the Europe.
CannaOne will contribute to the JV exclusivity to their proprietary software for the UK market, while further providing its industry knowledge, digital marketing expertise and access to its existing American CBD brand supply chain for sale on LO.
Riby-Williams, commented "LevelOut UK has a strong sense of the direction and trend of the CBD Market in the UK. The progression towards the consummation and launch of this JV could not be timelier, as UK and European consumers are ever keener to source and utilize CBD Products. As part of the JV operation it is our intent to open up the breadth of our US BWell (https://thebwellmarket.com/) marketplace supply chain to the UK market and thus introduce popular US products on the other side of the pond. It also demonstrates the scalability and ability of our ecommerce solution to swiftly launch marketplaces in other regions efficiently. "
"This soon to be realized JV is a testament to our goal to be omnipresent in markets all over the world. This is one more pin on the map for us, as we continue in discussions and negotiations with other groups for the establishment of CBD marketplaces in additional lawful domestic and international geographic locales," he added.
As CBD companies realize they need online presence, CannaOne Technologies will benefit.
For more information, visit the company's website at https://cannaonetechnologies.com
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