Corvus Research & Communication

The Lift Expo business day showcased a wide variety of Canada’s top cannabis brands from some of the top growers to emerging technologies, to accessory brands.

The constantly changing regulations in this emerging industry were evident in nearly every discussion with vendors.  Vendors conscious of what to say during this time and how to present and market their brands in such a way that compliance and corporate stewardship are cornerstones of successful cannabis businesses.

One of the most important takeaways was corporate stewardship.  The most successful brands present were responsible in their showcases, their imaging, and their brand messaging.  Booths like Supreme, Hydropothecary, Hexo, and Sproutly.

There were so many emerging technologies featured from extraction to packaging that are breaking ground in the cannabis space and adapting technologies from different areas to ensure that cannabis production, sale, and distribution are efficient.

I was not sure what to expect with a cannabis expo, would it be all “stoners” or investors, new users or those who have been using for a while.  And really, it was all of the above.  Because it was the business day there were more people who appeared to be on the business side which was interesting.  I certainly didn’t expect the Bay Street regulars to flock to Lift in droves.

There was one brand I was surprised by, which will remain unnamed, selling extremely high potency products, including shatter.  This brand’s representatives openly discussed the product’s use and effects which is not at this point considered legal.  The potency of the products, and shatter, are not going to be included in the initial phase of legalization.

The encounter with this vendor brought up questions for me about the role that cannabis businesses are going to play in creating safety standards for consumers, especially since with recreational legalization there are expected to be large numbers of new users who would be unfamiliar with products and potencies.  Companies like this also show that there is a disconnect between legislation that prohibits cannabis store owners and operators from discussing things like potency and product effects with consumers.

It is going to be critical for the wellness of the entire industry that companies are responsible when formulating products and selling to consumers.  At such a critical point in cannabis legalization corporations cannot be solely focused on profitability they must engage in consumer education and encourage users to consume responsibly.  Companies that are able to differentiate themselves by connecting deeply with and caring about consumer use are surely going to end up being the frontrunners in the industry.

An important part of the Lift Expo is the panels.  The panels were informative and one of my favorites featured John Fowler, CEO of the Supreme Cannabis Company.  Hearing Fowler speak about the industry and his goals for Supreme is always a treat, check him out on the Midas Letter, here:

 

What really struck me about the panels is how the panelists’ insights could be applied to any industry.  When talking about building company culture, pursuing employees who are lifelong learners, and taking steps to foster a company culture that encourages responsibility, advocacy, and innovation.

As a young industry cannabis is growing to encapsulate the best of the best talent from every industry ranging from retail to marketing to innovations in leadership and product development.

That is what makes cannabis so exciting.  The pool of talent, the growing culture of new and innovative companies, and a fantastic intersection between corporate responsibility and a huge opportunity for profit and company growth, cannabis could be a new frontier that showcases Canada, our talent, our heart, and our ability to be leaders on the world stage.

The only Lift & Co. expo that could be more exciting than being on the cusp of industry legalization is next year, where brands can really showcase the best of their product offerings in its fullest capacity and show a continued commitment to responsibility and to Canadians.