July 27, 2018 MJ Shareholders
July 27th, 2018
Exclusive, News, Top News
With advances in technology over the last few years, ecommerce has been taking a larger and larger chunk of retail sales. E-commerce sales as a percentage of total retail sales stand around 10% in the United States, and that number is growing about 15% per year. In Canada, it’s about 9% of sales with a 30% growth rate. E-commerce use is especially prevalent in younger generations, making it an essential component of growth strategies. The message is clear – sell online or be left behind.
The cannabis industry lags behind most other industries in online adoption, mostly due to legal issues that limit free commerce. That is all changing quickly, and BlissCo Cannabis Corp. (CSE: BLIS) (FRA: GQ4B) is laying the groundwork to take full advantage of the marketing and sales possibilities offered in the online environment. BlissCo’s recent agreement with Namaste Technologies (TSXV: N) (OTC: NXTTF) (FRA: M5BQ) represents a major step forward as the company implements its comprehensive plan focused on cannabis product development, branding, and distribution.
BlissCo is implementing a somewhat unique approach in comparison to other Canadian licensed producers. Rather than ramping up production capacity ahead of full legalization, the company has chosen to focus on higher margin products like oils and medicines, developed and packaged and distributed through its state of the art, high volume production facility. On the sales end, e-commerce will likely play a large role in driving revenues.
To that end, BlissCo is engaging Namaste to develop its e-commerce platforms. Namaste is one of the world’s largest online retailers of cannabis accessories, with more than 30 websites serving more than 20 countries. More importantly, Namaste is on the cutting edge of e-commerce technology, and BlissCo intends to use some of that tech to create its own vibrant online environment.
One of Namaste’s innovations, NamasteMD.com, is the first Health Canada compliant telemedicine app. Using the portal, users can sign up, connect with a doctor, get their medical cannabis recommendations, and arrange for the delivery of prescriptions. The two companies have agreed to whitelabel the app for BlissCo’s own patients, promising to make the medical cannabis experience as user friendly as possible. The agreement also entails access to cannabis delivery services through Namaste’s partially owned subsidiary, Pineapple Express Delivery.
Namaste also has developed artificial intelligence and machine learning capabilities that it will use to personalize and maximize the experience for BlissCo customers. For instance, BlissCo users could be given product recommendations based on personal symptoms and checked against a database of user-generated inputs on the effect of various cannabis strains. The more effective and efficient BlissCo’s online environment becomes, the more likely it is that customers will stay.
The two companies really believe in each other, so much so that Namaste’s co-founder and CEO, Sean Dollinger, is taking a seat on BlissCo’s board. Having Mr. Dollinger’s unique entrepreneurial spirit, combined with his technology and e-commerce experience, should be helpful as BlissCo implements its Canadian, and eventually global, medical and retail strategies.
The Bigger Picture for BlissCo
BlissCo is putting together a complete ecosystem comprised of cannabis product development, packaging, branding and distribution. Recognizing its own capabilities and limitations, the company is not afraid to strategically partner to address shortcomings. From cannabis supply agreements with other licensed producers to jumpstart its cannabis flower inventory, to the deal with Namaste and the appointment of Mr. Dollinger, BlissCo is demonstrating its ability to broaden its reach while remaining true to the original vision of the company.
In another indication of the company’s broader vision, BlissCo recently announced major progress toward getting its facility Eudralex GMP certified. This particular Good Manufacturing Practices certification is the most stringent in the world, and necessary if the company hopes to export products to Europe. Coming on the heels of BlissCo’s previously announced partnership with a German distributor, it is clear that the company intends to do just that as quickly as possible, pending the proper licenses and certifications. Germany is Europe’s largest medical marijuana market, offers government insurance for approved cannabis treatments, and is expected to rely mostly on imports for the next several years as domestic levels of cannabis production slowly rise. It’s a good place for BlissCo to start implementing its globally- and vertically-integrated plan.
The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: http://www.cannabisfn.com/legal-disclaimer/
About Robin Lefferts
MJShareholders.com is the largest dedicated financial network and leading corporate communications firm serving the legal cannabis industry. Our network aims to connect public marijuana companies with these focused cannabis audiences across the US and Canada that are critical for growth: Short and long term cannabis investors Active funding sources Mainstream media Business leaders Cannabis consumers