Cannabis Conundrum: The Growing National Market

Two major companies are making strides to break into the wellness industry– Dosist and Ascend Wellness, both sellers of medical marijuana, have recently finished significant rounds of funding (just in time for the holidays.)

Ascend Wellness, a medical marijuana dispensary and operator, has opened markets into Massachusetts, Michigan, and Illinois, with a significant (think 40 million!) round of funding. Already, Ascend Wellness has plans to build and develop three high-end cannabis dispensaries in the Boston metro area. Along with these three locations, Ascend plans on using this round of funding to secure spots in the emerging Northeastern market–a market comparable to the markets in Canada and California (the two largest North American markets.)

In the South, cannabis dispensary Dosist, which began online, is opening several brick-and-mortar locations in Florida. Dosist sells vape pens, cannabis oil formulas, and other products that fall into one of six categories, including sleep aids, pain relief, and calmness. Currently, the only way to buy Dosist products is online or in one of their brick-and-mortar stores in Los Angeles, San Diego, and San Francisco. Since Florida’s legalization of cannabis in 2016, distributors like Dosist have expanded into the state’s booming market.

Dosist plans to open their stores in conjunction with Miami’s Art Basel, which runs from December 6 to December 9, 2018, alongside Instagram-worthy fitness classes, art galleries, and other performances. Anne-Marie Dacyshyn, the Chief Marketing Officer for Dosist, said that the Art Basel move comes to educate, rather than sell: “There is still so much that is unknown to the potential customer about cannabis, and there is still quite a lot of stigma. We see this experience as a complementary way of educating people about Dosist, but also the entire cannabis space.”

What do you think about companies selling cannabis in new markets? Let us know by leaving a comment down below!

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