Operators and investors appear optimistic for another successful year due to a combination of the pandemic, shifting public sentiment and possible regulatory changes.
Brand investor firm Vice Ventures Founding Partner Catharine Dockery credits the shift in the market due to changing attitudes across the board, from a growing public acceptance of cannabis to increased body positivity.
“That’s a big trend that will continue in 2021,” Dockery says of the shifting public views.
David Farris, VP of sales and marketing for Las Vegas’ Planet 13 Holdings Inc (OTCQX:PLNHF), said that cannabis has shown that industry growth is possible even during the pandemic.
Farris cited plans for a superstore expansion in Santa Ana, California. That growth comes despite COVID restrictions.
“As these restrictions lift, I believe tourism and traveling will restore, and we will come back stronger than ever,” he adds.