6 Cannabis Industry Trends at MJBizCon 2017

This year’s most recognized cannabis trade show was the biggest yet. There were 18,121 attendees at the Marijuana Business Conference & Expo in the Las Vegas Convention Center last week, where we got a glimpse of the latest cannabis industry trends.

Baked Bros’ Nadeem Al-Hasan, a speaker on a panel at MJBizCon, said “It’s grown enormously since the first year at the RIO. It was a nice scene and setting as well. The EXPO was very well organized in regards to workshops, sessions, and EXPO floor.”

“There were lots of new companies and even more vendor companies such as packaging, ordering, technology solutions. It was just a small taste of where this is REALLY all going. We are anticipating an 80/20 rec/med market nationwide,” he said.

Here’s what cannabis industry members were talking about.

1. Nuwu Cannabis Marketplace made waves

Many con attendees made a stop at the Nuwu Cannabis Marketplace, a 16,000-square-foot mega dispensary which gained national headlines for its drive-thru service. Check out our video tour hosted by Foottraffik!

 

2. Banking crisis brainstorming

Industry members voiced concerns about banking issues which remain a challenge as federal banking is unavailable.

“Stuart Titus, president, and CEO of California-based company Medical Marijuana Incorporated says the trend seems to be moving toward forming state banks, an idea Nevada lawmakers have floated before,” according to LasVegasNow.

3. Opportunities that come with mainstream companies

Speakers pointed to opportunities with mainstream companies edging into the cannabis space. “The speaker sessions were fantastic . . . The deliverable and engagement or questions asked were great,” Al-Hasan said.

Speaker Jeanne Sullivan told attendees that “These companies are not going to miss out,” referring to the industry entrances of Scotts Miracle-Gro, liquor distributor Constellation Brands and Netflix, according to The Seattle Times.

“Sullivan said that her advice to those in the marijuana space is to position themselves as best they can for potential acquisition down the road by larger corporations such as those and others from the pharmaceutical and agricultural industries.”

4. Push for innovation

Speaker and former Apple and Tesla executive George Blankenship focused on innovation as the key to reshaping the marijuana business.” “Sooner or later, you’re going to be able to say, ‘Alexa, send me an eighth of flower,’” Blankenship said.

Nothing’s too futuristic for the cannabis industry, as you can see by this virtual reality booth.

5. California’s regulations made everyone take a deep breath

During the con, California dropped over 300 pages of regulations on its cannabis businesses, which many companies paused to consider.

6. Women talked industry leadership

Women-led sessions put emphasis on maintaining an inclusive, diverse industry.

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