Houston, Texas--(Newsfile Corp. - October 11, 2019) - MarijuanaStox announces publication of an article that discusses CannaOne Technologies (CSE: CNNA) (OTC: CNONF) (FWB: 3CT). The company has been aggressively addressing the ecommerce and online marketplace needs and opportunities of the growing cannabis industry, as a first-to-market software company with its proprietary software.
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At the moment, we're witnessing a substantial retail shift from a world of brick-and-mortar to digital. That's because many are quickly realizing that if they don't transition to a bigger online presence, they're limiting their reach, especially as they try to compete with Amazon.com.
They also realize an online presence allows them to reach new markets.
That includes cannabis retailers as well.
At the moment, sales of CBD products are expected to grow 700% year over year, according to the Brightfield Group. Even research firm, BDS Analytics says U.S. sales of CBD products alone could grow from $1.9 billion in 2018 to more than $20 billion by 2024.
As cannabis demand continues to increase as fast as it has, cannabis companies are steadily and quickly moving online. That's where Shopify comes in.
Companies like Shopify are introducing new features to help cannabis retailers establish and expand an online presence. So far, it's been heavily involved in the Canadian market, as well. In fact, it provides a platform for the Ontario Cannabis Store. It also just expanded, opening its commerce platform to cannabis companies in the U.S.
"Shopify has unmatched expertise in emerging industries, along with the resources merchants need to be successful in the fast-growing market of hemp-derived CBD products in the U.S.," Shopify COO Harley Finkelstein said.
However, even Shopify is late to the game.
While Shopify is just now getting on board to help cannabis companies flourish online, others have been in the game a bit longer. In fact, like CannaOne Technologies Inc. (CSE: CNNA) (OTC: CNONF), a first to market online ecommerce solution developed around cannabis products and consumers has been in the business for quite some time.
CannaOne Technologies is First-to-Market with a Cannabis Solution
First-to-market company, CannaOne Technologies created the BloomKit software suite to offer cannabis companies a turnkey solution that connects cannabis retailers to consumers, while also offering dispensaries a way to successfully sell their products online.
In June 2019, it launched the BWell (thebwellmarket.com) CBD online marketplace. It exhibited the company's launch of its first revenue model, as well as, establishing CannaOne as one of the first CBD focused online marketplaces in an industry. In addition to the successful launch of its online ecommerce CBD Marketplace, the company has already received over 11,000 customer sign-ups seeking access to purchase over a 140 individual CBD products.
CEO Solomon Riby-Williams stated: "The realization of the BWell Market portal has proved the Company's competence as a premium developer of enterprise online marketplace solutions including, site engineering, inbound marketing, running a successful pre-launch campaign, stocking the shelves with leading global CBD brands and the successful marketing campaigns all in just a few months. The BWell Marketplace encapsulates all of these key components. The Company is now well positioned to provide third party providers, a premium turnkey technology solution for their CBD products that not only supplies them with products, but educates and engages their community from the ground up. Our immediate goal is to "cookie cutter" this process and launch more marketplaces in other countries around the world. "
CannaOne Technologies is Expanding its Global Footprint
Just recently, the company entered into a Memorandum of Understanding (MoU) with LevelOut UK (LO), which will act as the majority equity partner in a joint venture corporation (JV), being established to service the UK market and sets the path towards the Europe.
CannaOne will contribute to the JV exclusivity to their proprietary software for the UK market, while further providing its industry knowledge, digital marketing expertise and access to its existing American CBD brand supply chain for sale on LO.
Riby-Williams, commented: "LevelOut UK has a strong sense of the direction and trend of the CBD Market in the UK. The progression towards the consummation and launch of this JV could not be timelier, as UK and European consumers are ever keener to source and utilize CBD Products. As part of the JV operation it is our intent to open up the breadth of our US BWell (https://thebwellmarket.com/) marketplace supply chain to the UK market and thus introduce popular US products on the other side of the pond. It also demonstrates the scalability and ability of our ecommerce solution to swiftly launch marketplaces in other regions efficiently."
"This soon to be realized JV is a testament to our goal to be omnipresent in markets all over the world. This is one more pin on the map for us, as we continue in discussions and negotiations with other groups for the establishment of CBD marketplaces in additional lawful domestic and international geographic locales," he added.
For more information, visit the company's website at https://cannaonetechnologies.com
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