Not everyone involved with the $10 billion legal cannabis market in North America has to grow the plant to make money. There are hundreds of companies making money without growing marijuana.
In 2017, I interviewed Jeanine Moss, the founder of AnnaBis Style. Her company sells aroma-controlling, high-end accessories for women like clutches, cross-body bags, and waist bags. She also sells cannabis traveling guides for women for Denver, San Francisco, and Los Angeles.
“I saw we had no beautifully designed and useful products for women in the cannabis industry, and I know that women’s needs are not being addressed,” Moss told me.
As the cannabis industry grows 145% from $10 billion in sales in 2017 to $24.5 billion by 2021, there’s going to be new markets that form within the marijuana industry.
From what my inside sources told me, luxury cannabis products are going to be the next big thing.
And investors who spot trends before they become mainstream can make the biggest long-term gains.
The Next Big Thing Is Luxury Cannabis Products
When I spoke with the experts, a backdoor investment strategy emerged.
Think of what Apple Inc. (Nasdaq: AAPL) has done for the tech business. It’s known for its impressive hardware, but it all starts with beautiful packaging. Opening a new Apple product is an experience, and luxury cannabis brands could replicate that same feeling Apple products evoke with the right packaging.
That means companies that specialize in cannabis packaging and design could experience a boom in sales.
And the first expert we talked to has a bold prediction.
Derek Riedle is the publisher of Civilized, a premium digital media and lifestyle brand that offers an honest reflection of today’s cannabis culture.
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