The impact of Covid-19 on Cannabis Merchants

The entire world is still trying to sustain during the largest public health crisis of our lifetimes. Covid-19 has resulted in unprecedented shutdowns around the world, so many businesses are shut or toppling due to the lockdown restrictions. 

The impact on Cannabis industry is that organizations are implementing various security measures.  There is one particular development  that seems interesting related to cannabis legalization. Due to coronavirus many states have deemed cannabis businesses. Coronavirus has already impacted our economy and society at the same time it has impacted the cannabis industry and this is just the beginning the worst is yet to come.

While it’s still too soon to assess because we are yet to reach the peak of pandemic and once the after effects subside it is for sure that there will be a great impact on the culture and operations of the cannabis industry. Most countries during the lockdown have only allowed essential services to operate like grocery store, vegetable store, chicken , meat and liquor store and some instances, cannabis retailers and producers. However, due to this “essential” tag most people resulted cannabis patients stockpile the products because they feel they need the most in order to get through these challenging times which has resulted surge in cannabis sales. The cannabis industry is having a breakthrough moment during this pandemic.

Cannabis Businesses Deemed Vital During Corona Pandemic

Many states have deemed cannabis business during coronavirus pandemic. The cannabis business may continue to stay open and operate as long as they follow the government rules and restrictions. Mainly focusing on sanitary measures, social distancing and so on. Cannabis retailers falls under 2 categories the first category is healthcare and the other one is Food and agriculture. 

There is a quick rise in Cannabis sales due to Covid-19:

Medical cannabis patients are the most vulnerable cannabis consumers during this crisis. Considering the fact that this is a medical requirement medical cannabis dispensaries must be considered essential. Millions of people are at home due to the lockdown and thus it resulted in cannabis sale spike. Consumers or patients or users have purchased higher rates than usual just to stock up so that they don’t fall short in case if there is more challenging times. 

Relaxed rule in curbside delivery:

Many states have relaxed the rules of curbside cannabis delivery due to medical patients. Curbside pickup is safer because patients do not have to step foot inside of the retail store to pick up their products.

Home delivery is the best option:

Due to the lockdown many people prefer to stay home due to social distancing. So home delivery has become the ideal way to get cannabis. Before the coronavirus outbreak delivery services of cannabis was not allowed. For some time until things settle down delivery option is the best one for cannabis.

Are you looking for CBD merchant account . IPayTotal can help you with high risk merchant account.

 The account features includes:

  • Multi-bank processing (including off-shore)
  • Secure payment gateway
  • Chargeback alerts
  • Chargeback disputes
  • ACH/Check 21 processing
  • Fraud prevention and protection
  • Competitive processing rates (below 6%)

Call us now to set up an account with us..



Scroll Up