In June, Apple updated its app store review guidelines.
Prior to this, it banned the sale of controlled substances. However, it changed that language to grant an exception for “licensed or otherwise legal cannabis dispensaries.”
The provision included that apps for dispensaries must be “geo-restricted.”
So, for example, a dispensary in Illinois can now create a cannabis e-commerce app and sell its products — but only in Illinois. You won’t be able to access the app in Florida.
U.S. E-Commerce Trends Up
This is a massive win for cannabis dispensaries around the country, which can now take advantage of the growing trend in e-commerce.
As you can see in the chart above, a study by eMarketer and Buildfire found that mobile commerce (m-commerce) — using apps to buy goods and services through your smartphone — was $95.8 billion in 2018.
The study forecasts that it will jump to $418.9 billion by 2024 — a 337% jump in revenue.
So, Americans will continue to spend more money buying things through apps on their smartphone.
And, as you can see in the chart below, e-commerce is taking a bite out of traditional retail.
Published: September 10, 2021
Founder & Interim Editor of L.A. Cannabis News