Article by Leah Schnurr, News Week
Canadian marijuana firms, facing potential limits on advertising for recreational pot, are selling health food products and cultivating a lifestyle image to win customers in an anticipated multibillion dollar market.
Canada is set to become the first G7 country to legalize recreational marijuana nationally when it introduces legislation next spring. Medical marijuana is already legal.
If the government incorporates an expert panel’s recommendations, outlined on Tuesday, it could strictly limit advertising and require plain packaging on products.
That means companies will need to be creative to set themselves apart from the competition, with the advantage going to those who have already established a name, said Aaron Salz, founder of Stoic Advisory Inc, a cannabis advisory firm.
“If you’ve been able to build a brand presence ahead of potentially more restrictive rules on advertising, you’re going to have a leg up.”
Alternatives could include sponsoring events or companies putting their name on products other than cannabis, he said.