March 2024 - CannaBizCentral

How to Boost Your Cannabis Dispensary Marketing in 2024

March 20, 2024 Editorial Staff Cannabis Marketing

In the dynamic world of the cannabis industry, the role of strategic marketing cannot be overstated. For cannabis dispensaries looking to carve out their niche and drive growth, mastering the art of marketing is not just an option—it’s a necessity. As the legal landscape continues to evolve and more players enter the market, standing out from the crowd requires more than just offering quality products. It demands a deep understanding of effective marketing strategies that resonate with your target audience.

Internet Services Software

Unpacking the Essentials of New Email Protocols from Gmail and Yahoo

March 18, 2024 Editorial Staff Cannabis Marketing, Compliance

Gmail and Yahoo have introduced new email standards affecting commercial senders, emphasizing authentication, easy unsubscribe options, and strict spam complaint thresholds. Regardless of your email volume, these changes underscore the importance of best practices in email marketing. Learn how to navigate these requirements with ease, ensuring your emails reach inboxes and maintain a positive reputation. This overview covers the necessity of email authentication, streamlined unsubscribe processes, and the critical need to monitor and maintain low spam complaint rates. Discover the tools and strategies that can help you comply with these new protocols and enhance your email marketing effectiveness.

Marketing

Cannabis Set to Outpace Alcohol in Consumer Growth

March 18, 2024 Editorial Staff Cannabis Marketing, Intellectual Property

An investment bank’s recent forecast has painted a promising future for the cannabis industry, projecting a significant surge in consumer base and sales revenue that is expected to overshadow the alcohol market by 2027. The report highlights a pivotal shift in consumer preferences, with millions of consumers predicted to transition from alcohol to cannabis, contributing to an explosive growth in cannabis sales, which are anticipated to hit the $37 billion mark within the next few years.

This market evolution reflects a broader societal acceptance and integration of cannabis, driven by its legalization in numerous regions and the growing recognition of its diverse applications. As the cannabis industry continues to mature, its economic impact is becoming increasingly significant, signaling a major shift in how consumers are choosing to spend their leisure dollars.

The projection not only underscores the potential profitability and expansion of the cannabis sector but also indicates changing consumer behaviors and preferences, suggesting a future where cannabis could become a staple in social and recreational activities, much like alcohol has been for centuries.

Accounting and Taxes

Executive Compensation and Changes to Tax Regulations Impacting the Cannabis Industry

March 18, 2024 Editorial Staff Compliance

GPT

In the rapidly evolving cannabis industry, strategic executive compensation is crucial for attracting top talent and ensuring regulatory compliance. The Tax Cuts and Jobs Act (TCJA) has significantly impacted the tax deductibility of executive pay, eliminating the performance-based exception for compensation over $1 million. This change, coupled with complex accounting for equity awards under ASC Topic 718, requires cannabis companies to navigate carefully through these financial and regulatory landscapes to optimize their tax positions and maintain financial robustness.