At such an early stage in the growth process, the cannabis industry is unlike any other industry in the world right now, especially in the retail/dispensary sector. But while cannabis is extremely unique in its own way, it still carries a number of similarities to established industries and businesses that operate in more traditional retail capacities. Those similarities offer glimpses into the likely future of the cannabis industry, giving us learning opportunities from businesses that have already experienced changes and progressions that literally change everything about how their industry operates.
Many businesses are faced with the impending change of going from unregulated to regulated, but that’s only the beginning. In the more mature markets where regulation has been in play for several years, such as Colorado, Nevada and Washington, we’re already seeing evolutions that show cannabis businesses implementing best practices that have been in play for years in traditional industries.