Walmart Canada Looking At Selling Marijuana Products
With the recent talk about legalizing marijuana, companies and organizations like Marijuana Rehab are looking at what they should do in case their area of operations follow in the footsteps of Canada.
One such organization is Walmart, whose Canadian arm are looking into the prospect of selling CBD products in their stores.
Many major companies like them are either considering or outright embracing the option to have cannabidiol (CBD)-based products or services in their listings, which is why Walmart Inc.’s Canadian arm is looking into the matter. According to a report from the company, the mega-chain is currently conducting research as to the viability of CBD products on their stores’ shelves.
DIane Medeiros, the spokesperson from Walmart Canada that reported on the matter, says that, currently, the company doesn’t have plans to have CBD products available in their stores, but they are doing some preliminary fact-finding on the matter.
Their investigation is notable in its timing, as it closely follows the heels of Canada’s legalization of marijuana on a federal level across the country recently, on October 17,2018. Walmart Canada, among other organizations like Marijuana Rehab, have popped up on the news, discussing how they’ll be adapting to the legalization of pot, should it come up.
In an e-mail to a local news network, Medeiros says that the review of CBD-based products, which are goods that have the active but non-psychoactive compound cannabidiol, is just the company’s standard operating procedure for ‘any new industry’ that pops up due to developments.
Reportedly, Canadians are expected to spend around $1b on marijuana in the first three months following its legalization. Response to the company’s investigation has been nothing but positive, with their shares going up by 3% in that same afternoon.
While Walmart isn’t ready to offer CBD-based products to its customers, other brands in Canada, both global and regional, have already made their plans to cater to the new market clear. One such company was The Coca-Cola Company, who reported that they’d be working with Aurora Cannabis to create a CBD-based beverage.
Meanwhile, companies in Canada that have refused to embrace CBD products taking hits to their market values, like PepsiCo, who had its market share drop after they declared that they would not be selling CBD-infused goods.