New York City is a city of people. Every kind of person, every part of the world, has representation in the peoples of New York state. A state with a diverse set of thoughts, positions, and opinions on any particular issue. A state where two-thirds of voters support legalising cannabis for recreational use amongst adults.
Since 1977, possession of 25g of marijuana has been classed as an infraction in New York, with a $100 maximum fine. In 2014, Governor Cuomo signed legislation allowing cannabis, in non smokable form, for medical uses. Private contracts for cultivating were given to five companies, allowing each company four dispensary locations.
These state-mandated outlets are the only type of dispensary New York currently has and as such have been the sole focus of investing in cannabis within the state.
In 2018, Governor Cuomo directed the state’s legislature to fund a study into the decriminalisation of cannabis including the legal, economic, social, and health ramifications associated with legalisation. That study, undertaken by The Department of Health, concluded that legalisation benefits sufficiently outweighed any risks and recommended accordingly.
Legislation will drive creation of new cannabis companies within the state, giving a broader set of options for how to invest in cannabis. As the state’s cannabis industry develops, investing in cannabis will encompass more than any particular dispensary New York has to offer.
One area where legislation will certainly create greater competition is between dispensaries. Legacy medical dispensaries will face competition for customers that doesn’t exist in the current market. Retail experience will start to matter far more. Identifying dispensaries that excel at retail experience will be essential for those investing in marijuana.
Meri+Jayne is a brand with the potential to compete. Positioning themselves as a purveyor of good health and good times, they focus on personal connection and embody a desire to connect like-minded individuals. Their product line is curated accordingly, accentuating themes of music, color, and friendship. Backing up this customer-focused store experience is Green Growth Brands and their heavyweight team of C-level retail experts, presenting a green flag for anyone interested in investing in marijuana.
When the customer experience is inclusive and focused like Meri+Jayne’s is, and when that experience is backed with GGB’s expertise, the competitive disruption to the limited New York market will be sizable and victory will belong to the brand that connected with customers.
To find out more about Green Growth Brands suite of brands, their expert team, and how to invest in cannabis visit their website.