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June is the month when retail brands let their customers know they support LGBTQ+ rights and inclusivity, although many of them go quiet once Gay Pride is over.
When retailers put away their rainbow flags and Pride marketing materials, some consumers are left feeling that the effort is more for a summer sales boost than a true expression of inclusivity.
Though from a business perspective, the targeting makes sense. In 2019, the community had an estimated annual buying power of $917 billion, according to the
National LGBT Chamber of Commerce.
But does it make sense as an ally?
A 2018
Grindr survey showed that a little over 15% of community members felt very positively towards brands using Pride month marketing. Favorability upticked to 40% for brands using LGBTQ marketing year-round.
Make room for legal cannabis on the Democratic agenda once Biden is sworn in NJ.com 1/19/2021 Jonathan D. Salant, nj.com
EDITOR’S NOTE: NJ Cannabis Insider is hosting a two-day business and networking conference March 9-10, featuring some of the state’s most prominent industry leaders. Early-bird registration is open. Tickets are limited.
Sure there’s the second impeachment of outgoing President Donald Trump, and a new coronavirus stimulus bill to pass, and efforts to combat the pandemic and expand vaccinations, and an entire Cabinet to confirm, and perhaps bipartisan infrastructure legislation to pass.
But with Joe Biden taking the oath of office as president on Wednesday and Democrats poised to control both the House and the Senate, efforts to remove the federal ban on marijuana will be on the agenda as well.
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New Jersey, South Dakota, Montana, and Arizona voted to legalize recreational marijuana this year; Mississippi legalized medical marijuana.
On Thursday New Jersey lawmakers gave the nod to a bill setting up a regulatory framework for cannabis business in the Garden State, bring actual sales a bit closer to reality.
Each state represents a massive opportunity for local entrepreneurs both those who want to directly handle marijuana and professionals in businesses supporting the industry.
Marijuana s semi-legal status makes it hard to operate across state lines, opening up room for a local cottage industry composed of licensed professionals like doctors, bankers, and lawyers.
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The 2020 election ushered in a wave of legislation concerning several burgeoning industries, including cannabis, p
silocybin (or psychedelics), contract labor, and sports betting.
New laws legalized drug use and sports gambling in a variety of states, and confirmed that contract laborers in California would not be classified as employees.
Much of this new legislation presents business opportunities for entrepreneurs; in other cases, such as the passage of sports gambling legislation, the new laws will likely consolidate economic power in the hands of existing players.